Indian ecommerce sector pops up on Usmanov’s radar screen

Indian ecommerce sector:  Alisher Usmanov – Russia’s richest man, according to Forbes – is considering investing in India, and particularly its e-commerce sector which he believes remains undervalued. In an interview with the US TV channel CNBC, he confirmed that the DST Global Investment Fund which he co-owns with Yuri Milner had already invested in China’s Xiamoi, the world’s third largest smartphone manufacturer. Usmanov also recently bought a “small” stake in the Chinese online retailer Alibaba during its recent IPO which, he said, had brought him a 500% rate of return. Interfax