Tokyo, NFAPost: Prime Minister Narendra Modi met SoftBank founder and CEO Masayoshi Son at Tokyo on Monday and discussed Softbank’s role in India’s growth journey.
Masayoshi Son also made it clear that Softbank role in India’s startup sector as the company is finding more interest in technology.
Discussions focused on Softbank’s future participation in India in technology, energy, finance, R&D, etc.
SoftBank founder and CEO Masayoshi Son recently stated that the Japanese firm has invested about $14 billion over the past decade in India, making it the country’s largest foreign investor.
“In 2021 alone, we have invested $3 billion into India. We are the biggest foreign investor in India. We are providers of about 10% of the funding of all the unicorns–firms valued at $ 1 billion or more– in India,” SoftBank founder and CEO Masayoshi Son.
The 64-year-old billionaire investor estimates that Softbank-backed firms in India have created one million jobs. Softbank-backed Indian startup ventures include Paytm and Policybazaar, both of which were listed on Indian bourses last month, as well as others such as Delhivery, Unacademy, Grofers, Oyo Hotels & Homes.
In 2021, Softbank re-invested in ecommerce major Flipkart besides birthing new unicorns like Zeta, Meesho and OfBusiness. But at the same time, Masayoshi Son also made it very clear that his company will slow down investments. It is also likely to slow down the Indian internet ecosystem.
