The Telegraph
Monday , May 30 , 2016

FM upbeat on greater Japanese funds flow

Tokyo, May 29 (PTI): Japanese conglomerate SoftBank and a number of investors here have shown a keen interest to invest in India's "infrastructure growth story", finance minister Arun Jaitley said today as he kicked off his six-day visit to Japan aimed at attracting investments from Asia's second-biggest economy.

After a meeting with Jaitley, SoftBank Group CEO Masayoshi Son said he was also interested in Internet companies as well as the solar energy sector, where he had already announced a $20-billion investment through a joint venture.

"There are people who want to participate in the infrastructure growth story. For instance, at the SoftBank meeting we just had, they are looking at one of the biggest investments in solar power already," Jaitley said.

In June last year, SoftBank announced that the group was forming a joint venture with Bharti Enterprises and Taiwan's Foxconn Technology Group to invest about $20 billion in renewable energy. The joint venture would aim to generate 20 gigawatts of electricity.

"They have made a considerable headway and have identified a location. It will probably be one of the largest investments in those areas," Jaitley said.

The Japanese telecom and Internet giant has made a string of tech investments in India, worth $2 billion in the past two years. SoftBank is looking at accelerating the pace of investments in the future.

"India has a great future. We are interested in investing for Internet companies, also for solar energy. We would make a strong commitment," Son said.

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