[Global Synthetic Reporter Li Zongze] According to the US “Wall Street Journal†reported on March 31, the United States’s well-known technology companies encountered unexpected resistance as they expanded their businesses in India: Chinese tech giants are investing dozens of local Indian competitors. Billion U.S. dollars and related business experience.
In recent years, Amazon, Facebook, Uber and other companies have all announced ambitious plans in India and quickly expanded their business, calling it the last untapped large-scale Internet economy. These U.S. companies intend to use their strong financial strength to dominate the Indian market. India has a population of more than 1.2 billion people, and most of them are still new to the Internet. These companies used capital to obtain a very high market share, but Indian home-grown start-up companies have been catching up with these American giants with the help of Chinese technology companies.
More and more U.S. technology companies are investing funds in their Indian subsidiaries to provide more cutting-edge products directly to the market that is beginning to mature, and they will basically not encounter regulatory barriers like the Chinese market. Amazon is investing 5 billion U.S. dollars in its Indian operations and Uber is investing more than 1 billion U.S. dollars in the country. In terms of the number of users, India is the second largest market for Facebook after the United States. Its messaging platform WhatsApp has more users in India than any other country.
However, Chinese tech giants, such as e-commerce giant Alibaba, social media giant Tencent Holdings, and taxi drivers, have joined the fight for new Internet users in India. Alibaba, Tencent and Didi are all supporting their Indian counterparts.
This month, Alibaba took the lead in a round of $200 million in financing for the new e-commerce business of Indian mobile payment and online shopping startup Paytm. In 2015, Alibaba and its affiliated company Zhejiang Ant Micro Finance Services Group jointly invested more than US$500 million in One97 Communications, the parent company of Paytm, and obtained a 40% stake in the latter.
A spokesman for Alibaba said that India is an important emerging market with huge potential.
As the US’s investment in Indian start-up companies has shrunk, Chinese companies’ investment interest has greatly increased. According to Hong Kong AVCJ Research, China Science and Technology Corporation invested a total of US$3.2 billion in Indian startups in 2015 and 2016, which is more than double the US company’s US$1.4 billion investment in India’s start-up companies over the same period.
How Amazon’s investment changed the competition in the Indian market, the Amazon spokesperson declined to comment, but said the company has made rapid progress in India and is committed to long-term investment in India’s e-commerce infrastructure and technology.
Chinese companies investing in India may have an advantage because India's embryonic stage of the Internet economy is an area they are familiar with. Some analysts say that India has tens of millions of new users connecting to the Internet for the first time through low-priced smart phones and economical Internet access packages. At present, Indian startups face an environment similar to that of China 10 years ago—the time when the Internet was rapidly popularized and the government’s The strict restrictions of foreign companies have led to the growth of Chinese Internet companies.
Many Chinese companies directly launched their own brands in India, but the vast majority failed. Indian netizens mainly speak English and are more familiar with American and local brands. As Plan B, these leading Chinese companies are now investing in Indian startups that are eager for funds to help them cope with competition from American giants.
Chinese companies provide more than just money. They can also give guidance to Indian companies on how to provide services to meet the needs of a diverse, large and less affluent population.
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