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Passion better than money, India can be bigger than China: Softbank

Japanese telecom and media group SoftBank will “seriously” accelerate its investments in India, Chief Executive Masayoshi Son said at the start-up conference in New Delhi on Saturday. Softbank had previously said it would invest $10 billion in India over 10 years. “The time has come that the Indian economy will be big enough going forward. Mobile internet will make the domestic internet market big enough,” Son said. “I think we would seriously accelerate our investments in India going forward.” When asked about what he sees when funding any start-up he said he looks at the leadership and the commitment and determination to the company. “I look at the eyes and ideas of an entrepreneur-which field and passion, before investing,” he said. He further added that India can be bigger in momentum than China in the next 10 years. “This is the beginning of big bang start up boom in India,” Son said, adding that passion more important than making money. Son also believes that

How China Will Handle The World's Biggest Supply Of Malls

China’s retail sales more than tripled from 6.7 trillion yuan in 2005 to 27 trillion yuan in 2014, helping to create one of the world’s largest consumer markets, according to government statistics. Along with this three-fold growth in consumption came a corresponding expansion in retail space – new malls and shopping centes in a country that had previously done its shopping along local street fronts and at state-owned stores. This economic transformation fostered retail real estate giants such as Dalian Wanda, which made Wang Jianlin China’s richest man, with  a fortune estimated by the latest Forbes China Rich List at $30 billion . However, many observers expect that this boom may also have caused a massive misallocation of resources, especially as growth in retail sales has begun to taper in recent years. Now, real estate consultancy JLL estimates that China is looking at a bulging pipeline of more than 40 million square metres in new mall space expected to enter the mark

India may become second largest emerging market after China: Report

India is offering relative value in a slow growth world and it's faster growth is allowing the country to emerge as the second largest emerging market after China, noted a recent report by Bank of America Merill Lynch.  "India is a rare economy in today's world in that it is not in stagflation. It is poised to overtake Brazil this year after having overtaken Russia last year in nominal GDP terms to emerge as the second largest emerging market after China," the report added.  The country is expected to register a GDP growth of 7.4 per cent this fiscal, according to the global brokerage firm.  "India still offers relative value in a slow-growth world. In our view we see a shallow recovery at home, we estimate growth at 5.5 per cent in FY16 and 6.5 per cent in FY17 (old GDP series)," BofA-ML said in a research note today.  According to the old series, the base year for calculation of national accounts was 2004-05.  The Central Statistic

India has 198,000 dollar millionaires: Study

Falling oil prices, constructive election results helped the country post the biggest gains in terms of their number and total wealth during 2014 India has become home to the 11th largest population of dollar millionaires, with 198,000 such high networth individuals (HNWI), as falling oil prices and "constructive" election results helped the country post the biggest gains in terms of their number and total wealth during 2014. India recorded the largest gains - for the region and globally - for HNWI population (26.3 per cent) and wealth (28.2 per cent). "The election of a popular reform-minded prime minister helped to boost investor confidence and contributed to strong performance in the stock market, with a 21.9 per cent increase in the MSCI Index. Lower oil prices helped reduce country's budget deficit and retail inflation fell considerably," a report said. "All these events helped India moved up to the third place for HNWI wealth across the Asia