Japan's SoftBank to invest $ 10 billion in India

Discussion in 'Economy & Infrastructure' started by cobra commando, Oct 27, 2014.

  1. cobra commando

    cobra commando Tharki regiment Veteran Member Senior Member

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    NEW DELHI: Telecom giant SoftBank has pledged an investment of $10 billion (over Rs 60,000 crore) in India's IT and communications space, one of the biggest investment commitments from a Japanese firm after Prime Minister Narendra Modi's visit to that country. Softbank -- one of the major telecom and internet corporations of Japan -- will look for opportunities in telecom and the fast-growing e-commerce sectors in India. The proposed investment was committed by Softbank Chairman and CEO Masayoshi Son in a meeting with Telecom Minister Ravi Shankar Prasad, an official statement said today. "Mr Son today assured the Minister that SoftBank would like to invest approximately $10 billion in India in the coming years. He placed it on record that India is the top most priority for SoftBank," the Telecom Ministry statement said. Son told Prasad that the visit of Prime Minister to Japan has created a climate of hope and optimism about greater economic cooperation between the two countries, it added. With a market cap of $92 billion, SoftBank has operations in broadband, fixed line telecom, e- Commerce, finance, media and marketing. SoftBank already has made investments in Indian companies including InMobi and Hike. "He (Son) further expressed immense faith in the great eCommerce potential of India. He estimated it to become a $0.5 trillion business in the next 10 years," the statement said. Sources said that SoftBank has plans to invest in ecommerce firm Snapdeal. However, Softbank and Snapdeal did not immediately respond to queries on the matter. SoftBank Chairman also asked Prasad to develop a robust mobile phone infrastructure and resolve spectrum issues.
    Japan's SoftBank to invest $10 billion in India - The Economic Times
     
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  3. EXPERT

    EXPERT Regular Member

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    good news, let the wave move. .
     
  4. JerryThom

    JerryThom New Member

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  5. Varahamihira

    Varahamihira Regular Member

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    Is there a history of Softbank going back on their pledges.
    The reason I ask is Foxconn has the habit of promising moon and cancelling them whenever they want.They have done with Brazil and Indonesia.
    Will Softbank do the same with India.
     
  6. ezsasa

    ezsasa Senior Member Senior Member

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    Donno about Indonesia but Brazil had adopted a policy of not encouraging Chinese investment. They had sensed a couple of years back that Chinese were buying their domestic industries bit by bit. This was around the same time Chinese made that oil deal with Venezuela and were selling the same oil to Americans at a profit.
     

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