Alibaba.com eyes 50 percent rise in SME registrations from India

Monday, 06 June 2011, 16:21 IST
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Mumbai: With China fast losing its edge as a sourcing hub, global e-commerce portal Alibaba.com is eyeing a 50 percent rise in the number of SMEs from India registered on its website to three million by FY'12 end, a senior official said. "China is losing its lustre and many buyers are increasingly opting for other markets... We expect growth from India to continue to be 50 percent which will take us to three million accounts by March-end," the company's Country General Manager, Sandeep Deshpande, told PTI. He listed appreciation of the Chinese renminbi versus the US dollar, rising labour costs and increasing instances of tax subsidies for special economic zones being withdrawn as the disadvantages affecting China currently.
Source: PTI
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