Alibaba has made moves to hold just under 40% of shares in the Indian mobile payments company Paytm. On 1st February 2017, it was shown that Alibaba.com in Singapore and Alipay had together bought the stake in Paytm and its ecommerce financial technology, meaning the parent company Alibaba is now set to become a large player in the Indian ecommerce market against Amazon and Flipkart. After being questioned about the regulatory filings, Alibaba told the Times Of India that India was an “important emerging market with great potential”, and that it was “absolutely committed to developing it for the long term”. The investment now means that Alibaba holds the largest share in Paytm's parent company One97 Communications.Â
