SoftBank CEO’s takesoft on Indian Startups & Solar Sector
The SoftBank President in India, Nikesh Arora, has stressed that Indian eCommerce companies must consider greater customer satisfaction and experience in lieu of deep discounting models to remain and be successful in their business.
He further stressed that last year saw an increased amount of funding in startups as well as firms gettng wiped out. He said at the Startup India event that “Let the consumer decide who they want to make the leader as opposed to keep trying to buy it as good consumer. So our message to all our companies is please focus on execution, please focus on giving a great customer experience and let the customer decide.”
The company has made investments in Snap-deal and Ola. He pointed out that the past year had created a lot of a shuffle in various sectors and the sector has gone from over 500 plus companies to about 10.
The SoftBank CEO expects many good companies to get continued funding with several of the not so good companies getting out of business. He expects ongoing funding as well as a market for great ideas.
On the solar energy front, he stated, “I think it has to do with the vision that Masa (SoftBank Founder Masayoshi Son) had. He decided to focus on clean forms of energy in Japan and I think by extension we started in India. India has a huge opportunity to leapfrog the existing not clean ways of producing energy.”
He also said that India has a lot of sunlight and with a huge amount of reshaping of the energy sector, the company feels its a good time to invest India.