China's Alibaba will not invest in India for at least 6 months: Report

New Delhi, Aug 27: China's Alibaba Group has put on hold plans to invest in Indian companies amid geopolitical tensions between the two countries, Reuters reported.
Alibaba will not put fresh funds in its investments in India for at least six months, reports added.

The Chinese group, Alibaba, has invested more than USD 2 billion in Indian startups since 2015.

Alibaba Group, and its affiliate Ant, are major investors in some of the major companies in India, including Paytm, the most valued Indian startup, in which it owns about 30 per cent stake, food delivery startup Zomato, grocery delivery startup BigBasket and e-commerce firm Snapdeal.

The decision comes following the military clash where 20 Indian soldiers were killed in the Himalayas in June and in a move of retaliation, New Delhi blocked TikTok and 58 other Chinese apps in the country in late June and extended the ban to several dozen more apps weeks later.

"Boycott China", and variations of it, also has been trending on social media platforms in India as a number of people posted videos showing destruction of Chinese-made smartphones, TVs and other products and chanting against using Chinese products.

India, the world's second-largest internet market, also amended its foreign direct investment policy (FDI) to make it difficult for Chinese investors to write new checks to Indian firms.