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Japanese telecom and internet giant SoftBank on Monday announced its intent to invest nearly $10 billion (around Rs 60,000 crore) in India over the next few years, with Masayoshi Son, the $92 billion conglomerate's chairman and founder, expected to kick off investments during his trip to India, where he is expected to meet several entrepreneurs.
In This Pic : SoftBank to invest $10bn in India
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CEO
of SoftBank Corporation, Masayoshi Son mentioned the investment intention during his meeting with communications and IT minister Ravi Shankar Prasad, an official statement said, adding that India is "the top most priority for SoftBank".
In This Pic : SoftBank to invest $10bn in India
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Japan's richest man, who had invested $20 million in Chinese e-commerce giant Alibaba in 2000, is eyeing investments in e-tailing and technology companies in India, said sources privy to the discussions. Son is learnt to have suggested that the Centre should speed up the rollout of telecom infrastructure and quickly move to nationwide 4G services.
In This Pic : SoftBank to invest $10bn in India
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SoftBank is leading a $650-million financing round in Delhi-based e-commerce player Snapdeal, the biggest by any Japanese investor, and also pumping in as much as $180 million in taxi hailing startup Olacabs which competes directly with Uber.
In This Pic : SoftBank to invest $10bn in India
Pic Courtesy : BCCL - Non Copyright
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Softbank so far runs a joint venture with Indian telecom major Bharti (Bharti Softbank) here and has invested in Bangalore-based mobile advertising network InMobi.
In This Pic : SoftBank to invest $10bn in India
Pic Courtesy : BCCL - Non Copyright
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