Chinese E-Commerce firm Alibaba to set up office in Mumbai
Posted on: 30 Dec 2016 09:42:23
30 December 2016 Current Affairs: Chinese major e-commerce entity, Alibaba is to set up its first Indian office at Bandra-Kurla Complex (BKC) in Mumbai, to take the advantage of the growing e-commerce market in the city.
The company has rented 3,221 sq ft of office space at Platina building owned by the TheWadhwa Group and would pay Rs 275 per sq ft on a monthly basis. The rent of the building is expected to be a little over Rs 1 crore per month.
Alibaba’s biggest rival Amazon India too has a 30,000 sq ft head office in the same BKC area.
Alibaba aims to have some share of the growing e-commerce market which is currently dominated by home-grown Flipkart, followed by Amazon and Snapdeal.
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