2 Around 20 Indian start-ups and 150 Chinese investors gathered at the event. 3 Many Chinese tech giants led by Alibaba are pouring money into technological space in India. Indian and Chinese start-ups have taken the first tentative steps in establishing a new alliance to provide a platform to facilitate closer linkages. A number of Chinese tech giants are already pouring money into the tech space in India, led by Alibaba - a major investor in Paytm - and more recently followed by companies including Tencent, Didi Chuxing-a Chinese Uber-Xiaomi and Baidu. NOV 11 A REMINDER OF CHINESE TECH INDUSTRY's POWERNovember 11 served a reminder of the power of the Chinese tech industry with Alibaba's annual "11.11 Singles Day" shopping festival raking in $8.6 billion in the first hour alone.

Source: India Today November 11, 2017 02:53 UTC