Tokyo: Finance Minister Arun Jaitley is on a 6 days tour of Japan aimed to attract investments from Asia’s second biggest economy. Finance Minister meets Masayoshi Son, CEO of Japanese telecom giant SoftBank Group. Jaitley said many investors, including SoftBank, are keen to invest in the infrastructure sector and be part of the Indian growth story.
SoftBank Group CEO Masayoshi Son said he was also interested in Internet companies as well as solar energy sector, where he has already announced $20 billion investment through a joint venture.
In June last year, SoftBank announced it was forming a joint venture with Bharti Enterprises and Taiwan's Foxconn Technology Group to invest about $20 billion in renewable energy in India. The joint venture would aim to generate 20 gigawatts of electricity.
"They have made considerable headway and have identified 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, investing $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.
The Finance Minister will meet Japanese Prime Minister Shinzo Abe on Monday at the 22nd International Conference on 'The Future of Asia' organised by Nikkei Inc. He will also deliver keynote address at the round table on National Investment and Infrastructure Fund, NIIF. During his stay, Jaitley is scheduled to meet several key investors. The Finance Minister will return to the Delhi on Saturday.