Softbank Sun Justice: Investing $10 billion in the Indian market in the next 5 to 10 years

On the evening of December 2, Beijing time, Softbank Chairman Sun Zhengyi said today that Softbank will increase its investment in the Indian market, and the investment in the next five to ten years will exceed the previous commitment of 10 billion US dollars.

Sun Zhengyi announced at the beginning of this year that he will invest 10 billion US dollars in the Indian market in the next 10 years. But he also said in New Delhi today: "Our investment will exceed the previous commitment."

Sun Zhengyi said: "India has a lot of investment opportunities. There are many people here, many people speak English, and many new technologies are born here. This is a new excitement in front of us. I am very interested in investing here. ""

Sun Zhengyi also said that in the past two years, Softbank has invested $2 billion in India, including Ola for taxis, Snapdeal for e-commerce, and Grofers for grocery delivery service providers. For these investments, Softbank recently recorded a $560 million investment loss in its earnings report.

In 2014, Softbank invested $210 million in Ola, $627 million in Snapdeal, and $90 million in Housing.com (along with other investors). In 2015, Softbank invested $120 million in Grofers and $100 million in Oyo (along with other investors).

Sun Zhengyi also revealed that Softbank is setting up a technology investment fund with a scale of 100 billion US dollars, and it still needs to raise 30 billion US dollars.