SoftBank’s investments in India to cross $10 billion

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Japanese telecommunications and Internet behemoth, Softbank who have a string of technology invetsments in the country has said that the company plans to invest more than $10 billion in India in the next five to 10 years.

The company is planning to make its first solar investment in India. It will invest $350 million in a solar project in the country, this was said by Masayoshi Son, CEO, Softbank.

“We have already invested $2 billion and we are interested in investing more,” he said. “India has a great future. We are interested in investing in Internet companies and also in solar energy. We would make strong commitments.”

Last year in June, Softbank announced a joint venture with Bharti Enterprises and Taiwanese electronic manufcaturing services (EMS) player Foxconn Technology Group to generate 20 gigawatts of renewable energy. This would entail the three partners investing about $20 billion.

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The company believes that India’s e-commerce industry is going to boom and $500 billion in the next 10 years. “And it will become like China and become worth hundreds of billions of dollars,” he said.

India has been at the centre of attraction because of the government’s slew of measures attracting fereign direct investments (FDIs).

By Atanu Kumar Das

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