Japan's SoftBank plans to increase its investment in India up to USD 10 billion in the coming year. The company has invested over USD 2 billion in Indian firms over the past year, The Times of India reports, citing SoftBank chairman Masayoshi Son. Son said that the internet and solar sectors are of most interest to him. "We are very happy with the portfolio we have. We will continue to look for new opportunities. Internet and solar are the sectors that excite me", Son said.
"If I rescale, I will scale up. What will USD 10 billion become, I don't know. If I have said that we will invest USD 10 billionin 10 years, we have invested USD 2 billion in a year. That's over pacing and I think we will accelerate", said Son. The statement was made at the "Start-up India" conference.
"In the next 10 years, India will repeat the growth China saw in the last 10 years and in my opinion, India could be bigger [than China]", Son also said.
He also urged the Indian government to develop a stable mobile phone infrastructure and solve internet speed issues. "I think mobile internet is too slow. More spectrum allocation to the mobile carriers is needed so that they can have better mobile broadband," he said.
