Japanese telecom giant likely to invest USD 10 bn in India
Updated: Oct 28, 2014 01:32:13pm
New Delhi, Oct 28 (KNN) The Chairman and CEO of the Japanese telecom and internet giant Softbank, Masayoshi Son said that his company would like to invest approximately USD 10 billion in India in the coming years, placing it on record that India is the top most priority for SoftBank.
Son said this to Minister for Communications and Information Technology and Law and Justice, Ravi Shankar Prasad when he called on him here yesterday, according to an official release.
Explaining that the recent visit of Prime Minister Modi to Japan had created a climate of hope and optimism about greater economic cooperation between India and Japan, Son told the Minister that SoftBank would like to invest approximately USD 10 billion in India in the coming years.
He expressed immense faith in the great eCommerce potential of India. He estimated it to become a USD 0.5 trillion business in the next 10 years, adding that the growth of eCommerce would lead to employment generation in India by opening up new avenues.
Son further requested the Minister to develop a robust mobile phone infrastructure and sort out the issue relating to spectrum.
On his part, Prasad highlighted the efforts made by the government for developing a world class communication network in India. He also assured him that the government is working hard on sorting out all issues relating to spectrum in India.
The Minister conveyed the Prime Minister’s vision of Digital India and his ideas of “Speed, Scale and Skill” and “3Ds- Democracy, Demography and Demand”. He also informed Son about the incentives such as Electronic Manufacturing Clusters and MSIPS that the government is providing to boost electronic manufacturing in India.
Highlighting the great potential of India in the field of electronics and IT, the Minister welcomed SoftBank to enhance its investments in India. He also discussed the Smart City project that the government has committed to develop and explained how this would create a huge demand for electronic goods and IT services in the coming years.
Son, who is Japan’s richest businessman and ranks 45th in Forbes list of world’s most powerful person, had met the Prime Minister Narendra Modi during his visit to Japan and had assured him of big investments in India.
With a market cap of USD 92 billion, SoftBank is one of the biggest telecom and internet corporations of Japan with operations in broadband, fixed line telecom, e-Commerce, finance, media and marketing. SoftBank already has already made investments in some Indian companies recently. (KNN/ES)
Son said this to Minister for Communications and Information Technology and Law and Justice, Ravi Shankar Prasad when he called on him here yesterday, according to an official release.
Explaining that the recent visit of Prime Minister Modi to Japan had created a climate of hope and optimism about greater economic cooperation between India and Japan, Son told the Minister that SoftBank would like to invest approximately USD 10 billion in India in the coming years.
He expressed immense faith in the great eCommerce potential of India. He estimated it to become a USD 0.5 trillion business in the next 10 years, adding that the growth of eCommerce would lead to employment generation in India by opening up new avenues.
Son further requested the Minister to develop a robust mobile phone infrastructure and sort out the issue relating to spectrum.
On his part, Prasad highlighted the efforts made by the government for developing a world class communication network in India. He also assured him that the government is working hard on sorting out all issues relating to spectrum in India.
The Minister conveyed the Prime Minister’s vision of Digital India and his ideas of “Speed, Scale and Skill” and “3Ds- Democracy, Demography and Demand”. He also informed Son about the incentives such as Electronic Manufacturing Clusters and MSIPS that the government is providing to boost electronic manufacturing in India.
Highlighting the great potential of India in the field of electronics and IT, the Minister welcomed SoftBank to enhance its investments in India. He also discussed the Smart City project that the government has committed to develop and explained how this would create a huge demand for electronic goods and IT services in the coming years.
Son, who is Japan’s richest businessman and ranks 45th in Forbes list of world’s most powerful person, had met the Prime Minister Narendra Modi during his visit to Japan and had assured him of big investments in India.
With a market cap of USD 92 billion, SoftBank is one of the biggest telecom and internet corporations of Japan with operations in broadband, fixed line telecom, e-Commerce, finance, media and marketing. SoftBank already has already made investments in some Indian companies recently. (KNN/ES)
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