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Russian Billionaire Plans to Invest in India’s E-Commerce Market: Reports

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Russian billionaire said in an interview that he is planning to start investing in Indian e-commerce market.

MOSCOW, December 30 (Sputnik) — Russian billionaire Alisher Usmanov said in an interview with the Rossiya-24 television that he is planning to start investing in Indian e-commerce market.

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“Potential investment objects have already been found,” Usmanov said Monday.

Earlier the businessman told journalists that he was planning to invest in India’s e-commerce sector.

According to the most recent PricewaterhouseCoopers report, e-commerce sector in India has tripled in four years, reaching $12.6 billion in 2013. Online travel services dominate the sector with almost 70 percent of the market share.

The Russian tycoon is gradually shifting the focus of his investments to the Asian markets. Currently, Chinese companies take up to 80 percent in his Internet-related investments. In November it was reported that Usmanov is planning to take part in the next round of investments into China's Xiaomi Inc, world’s third leading smartphone manufacturer after Samsung and Apple.

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