SoftBank looks to raise India investment to USD 10 bn: CEO

New Delhi (PTI): Betting on India emerging bigger than China, Japan’s SoftBank today said it has invested USD 2 billion in Indian firms in the last one year and will look to scale up the investment to USD 10 billion in the coming year.

SoftBank Chairman and Chief Executive Masayoshi Son said Internet and solar are the sectors that excites him, but wants the government to develop a robust mobile phone infrastructure and resolve slow Internet issues.


“If I rescale, I will scale up. What will USD 10 billion become, I don’t know. If I have said that we will invest USD 10 billion in 10 years, we have invested USD 2 billion in a year.

That’s over pacing and I think we will accelerate,” he said at the Startup India Conference here.

He said the more he knows about India on every visit, the more he gets excited. Stating that 21st century belongs to India, he said there exist huge opportunities in India. “Every market is different. I truly think this is really the beginning of Big Bang for India.”

“In the next 10 years India will repeat the growth China saw in the last 10 years and in my opinion, India could be bigger (than China).”

Stating that Indians are smart, English speaking, IT-proficient, he said, “all these things make me believe that the 21st century is this country.”

“We are very happy with the portfolio we have. We will continue to look for new opportunities. Internet and solar are the sectors that excite me,” he said.

Son, Japan’s second-richest person with a net worth of USD 14.1 billion said infrastructure was important and mobile broadband infrastructure was lacking in India.

“I think mobile Internet is too slow. More spectrum allocation to the mobile carriers is needed so that they can have better mobile broadband,” he said.

SoftBank had in 2014 announced plans to invest USD 10 billion in India over the next decade. It has already put in USD 627 million into online marketplace Snapdeal and smaller investments in property site

Its unit, SoftBank Internet and Media Inc is leading a group of investors putting an investment of USD 210 million in ANI Technologies Pvt, which runs the Ola Cabs taxi booking service. It paid USD 200 million for a 35 per cent stake in InMobi, an Indian mobile-advertising network.

It also has a joint venture with India’s Bharti Group, Bharti SoftBank, the investments of which include the mobile application Hike Messenger.

SoftBank in June had entered India’s solar energy sector with a venture with Bharti Enterprises and Foxconn Technology Group of Taiwan.

The Japanese group will own the majority stake in the new venture, SBG Cleantech that will bid to build 20 GW of solar power plants. Under the partnership, Foxconn will help manufacture solar equipment, and the venture will consider producing some locally.

1 Comment

  1. Dear readers,

    Now Modi’s India can only look for ‘Softbank’ to overcome the hard realities of economy.Despite Modi sarkar’s tall claims, it’s bure din for Indian economy.

    Over the last year, exports have dropped by 16.52 per cent. In November 2015 alone, exports crashed by 24 per cent or $20 billion. In the first nine months of 2015, Indian exports declined by 17 per cent, while world exports fell by 11 per cent.

    In April-June 2014, new jobs created in eight major sectors of the economy were only 1.82 lakh. In the next quarter, job creation dropped to 1.2 lakh. After that, in the following quarter, job creation slumped to 64,000 jobs. By April-June 2015, new job creation contracted to only 43,000.

    What is the state of big business, which is often expected to indicate economic trends. In a word, very bad. Here’s a look:

    1) Reliance (Anil Ambani) in March 2015 was in debt of Rs 1.25 lakh crore.

    2) Vedanta Group was in debt of Rs 1.03 lakh crore.

    3) Essar owed Rs 1.01 lakh crore.

    4) Adani Group was in debt of Rs 96,031 crore.

    5) Jaypee Group was in debt by Rs 75,163 crore.

    6) JSW (Sajjan Jindal) is indebted by Rs 58,171 crore.

    7) GMR Group owes creditors Rs 49, 976 crore.

    8) Lanco Group owes Rs 47,102 crores.

    9) Videocon Group is in debt of Rs 45,405 crore.

    10) GVK Group is in debt by Rs 33,933 crore.

    First of all, the global fall in crude oil prices have been a big help to the economy. The free fall in prices played their part in trimming India’s import bill, and saving on foreign exchange. Almost two-thirds of the country’s oil is imported.

    The Indian Rupee seems like reaching ‘Mangalyaan’ is almost reached 28 months high and crude oil is dipping to the shores. But Modi’s government is only slashed the subsidies no way passing the benefit to the common man.

    Only achievement Modi’s government achieved all time record of communal violence thanks rapid growth of RSS shakhas.

    The negative trend due to the ‘intolerance’ has made the investors more worries.

    Jai Hind

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