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Business deals

Alibaba steps on investment pedal in India, eyeing expanding online retail

Chinese e-commerce firm to pump in more money into Zomato

Alibaba is said to be scouting for a partner in India.    © Reuters

MUMBAI (NewsRise) -- Alibaba Group Holding, China's largest e-commerce company, is stepping up investments in India as it seeks to grab a larger share of the online spending in the south Asian nation where Amazon.com and Walmart are also pouring in billions of dollars.

Zomato, an online food delivery company controlled by Info Edge India, is the latest to win funds from Alibaba. Alipay Singapore Holding, a unit of Alibaba, along with its affiliates, agreed to infuse about $210 million in the company.

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