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India's e-commerce industry to become a Rs. 3,300 cr business in 10 years

Tokyo: Son, who had previously predicted that India's e-commerce industry would become a USD 500 billion (3,300 cr approx) business in the next 10 years, is confident that it will grow exponentially. "And it

PTI Published : May 30, 2016 11:31 IST, Updated : May 30, 2016 11:31 IST
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Image Source : PTI ecommerce

Tokyo: Son, who had previously predicted that India's e-commerce industry would become a USD 500 billion (3,300 cr approx) business in the next 10 years, is confident that it will grow exponentially. 

"And it will become like China and become worth hundreds of billions of dollars," he said. 

Though India has lagged China on development of the Internet, SoftBank believes the country will grow strongly over the next decade.

On consolidation in the e-commerce space, he said, "We always thought that whenever there is an opportunity to win, I am sure there will be lots of co-operation.

Also read: More trouble for Flipkart, Morgan Stanley marks down co’s valuation by 15.5 pc

"Asked what he wants from the government on renewable energy push, Son reply was "just support international standard" for paying for electricity generated and consumed.

"On making investment, there is international stand on the rules. 

For example, if we make 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," he said.

SoftBank, Bharti and Foxconn plan to invest in the joint venture called SBG Cleantech.

India is targeting generation of 100 gigawatt of solar power by 2022, up from around 5 gigawatt today. 

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