Japanese Telecom and Internet network giants, SoftBank has shown interest in the Indian market and is keen on investing $10 billion in upcoming 8 to 10 years down the line. The conglomerate had earlier invested millions of currency but this time its thinking off on a larger scale. Officials from the conglomerate ascertained that it is planning to invest almost 350 million USD in one of the solar energy projects heading in India.
As per the statement given by Masayoshi Son, Chief Executive of SoftBank, We have already invested $2 billion and we are interested in investing more. India has a great future. We are interested in investing in Internet companiesand also in solar energy. We would make strong commitments.We also made a first move on solar energy. We are making $350 million investment in first project in solar (in India). We will expand. In next 5-10 years, we will definitely make probably around $10 billion of investments.
The conglomerate amalgamated with Bharti Enterprises in India as well as Foxconn Technology Group in Taiwan so as to make proper use of renewable energy thus generating 20 gigawatts of electricity. The three adjoined firms plan to invest 20 billion USD. Also, the power generation usage will depend on an amount of electricity consumption as of deals signed.
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Likewise, many Indian companies and start-ups have raised fund from the Japanese company such as Snapdeal, Ola Cabs, InMobi, Hike Messenger, Housing.com, Oyo Rooms, Grofers, and much more. The respective companies raised a handsome amount as of $627 million in past 2 years for on-line marketing place; taxi hailing app received around $210 millions, an mobile-advertising network starts up asked for $200 millions, and so on.
When spoken to Son, he seemed confident enough over Indian market and promised to make it worth hundreds of billions of dollars, likewise China. Though the e-market is lagging behind China, but it will soon back off its loop holes and bring modern changes in its economic as well as financial developments and distributions. In fact, he had previously certified that Indian market would earn more than 500 million USD through its e-commerce segment.
The conglomerate’s investment in e-commerce and internet segment few years back went onto become quite fruitful. As of now, the investment has turned towards renewable energy specifically solar to execute and generate electricity. Son, even opined as, “On making an investment, there is international stand on the rules. For example, if we make an investment, then we want payment… there are international rules and standards, and as long as India provides (that), we don’t need any advantage. As long as there is parity with international standards that is enough.”
Currently, our country is focusing on generating 100 GW of electricity by 2022 as it merely generates 5 GW in today’s date. The joint venture between Indian, Japanese and Taiwanese conglomerates have paid off well with high profitable outputs and is named as SBG Cleantech.