Breakingviews India becomes front in global e-commerce proxy war

NEW YORK (Reuters Breakingviews) – Global tech giants are heading for a proxy war in India. Alibaba is leading a $200 million investment into Paytm’s marketplace, creating a new Indian unicorn. It confirms the intention of the Chinese behemoth to take on Amazon, which is aggressively ramping up, investing $5 billion into its local operation as other homegrown rivals flail. Only one of the tech big boys will emerge victorious.

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