China's Alibaba has been in talks with Snapdeal as it looks to enter India's online retail sector, according to two people aware of the development. "India is a huge opportunity for Alibaba," said a person directly aware of the matter, Reports Economic Times.

E-retail companies like Flipkart and Amazon have been accelerating their level in recent time. On the one hand Flipkart setting the benchmark at a $7 billion valuation, on the other hand Snapdeal too raised $400 million and is expected to valuate at $4 billion soon in near future.

Since the Chinese company Alibaba is currently the largest e-shopping source in China and has sales larger than eBay and Amazon combined. Snapdeal is also reported to be under the scanner of Japanese e-commerce company Rakuten as well as telecom service provider Softbank.

Alibaba is currently looking forward to its IPO in the US market, which is expected to be the biggest ever public offering in history.

Alibaba has also increased the price range on its IPO to $66 to $68 on Monday.