One of China’s major online travel service providers, Ctrip, plans to invest about US$100 million in Zomato, an Indian food delivery platform, according to The Paper.
Ctrip declined to comment on the issue, but an insider familiar with the matter confirmed the deal with The Paper, saying that the investment is still in the negotiation stage.
In fact, Ctrip’s investment in Indian companies is not surprising. In 2016, it invested US$180 million in the Indian online travel site MakeMyTrip.
Also, Sun Jie, the CEO of Ctrip, stated in a February, 2017 interview that the company intends to expand its presence in India.
Sun is optimistic about the Indian market, because he believes that India’s fast-growing population will create a huge demographic dividend in the next 10 to 20 years.