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Alibaba, which was known among international traders for years, recently made headlines around the world for its historic IPO (Initial Public Offering) on the New York Stock Exchange. Alibaba was founded by Jack Ma in Hangzhou, China in 1999. A pioneer in the world of connecting buyers and suppliers, Alibaba has established itself as the leader and the go-to platform for international trade transactions.
India and China, both with populations over 1 Billion, have a long history of trade and cooperation. The Silk Road was an important trade route which connected China with the west through India as far back as second century BC. Traders brought textiles, ebony, and spices across the 6,347 kilometer route. The historically important trade route was also responsible for the spread of Buddhism. In addition to the Silk Road, the spice routes that passed through India brought cinnamon, cassia, cardamom, ginger, pepper, and turmeric to Europe and Africa, having a huge impact on the way people prepared food.
In 1950, India was the first non-socialist country to recognize the People’s Republic of China as the legitimate government of China. The 1960s were a time of tension for China and India as disputes over land rights led to military conflicts.