Alibaba Group Holding Limited (NYSE:BABA), through its Pakistan e-commerce subsidiary Daraz, expanded its reach across Bangladesh, Sri Lanka, Nepal, and Myanmar, becoming South Asia's largest e-commerce company outside India, the Financial Times reports.
Daraz has proved a promising avenue into a tricky region for Alibaba after being shut out of India over geopolitical tensions. The growth of e-commerce and tech in Pakistan and Bangladesh has lagged behind other markets, including India and South-East Asia. The smartphone take-up in Pakistan and Bangladesh is said to overtake other large Asian markets like India or Indonesia.
