Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Facebook, which has roped in Reliance Communications to offer some free services in India through its Internet. org app, plans to tie up with more Indian telecom operators to extend this service to a larger audience. In an interview with ET, Chris Daniels, vice-president, products for Internet. org, said the social media giant will partner with more state governments besides Andhra Pradesh to offer basic e-governance and m-governance services. Edited excerpts
What is the mission of Internet.org? What role does India play in this?
Chris Daniels: The mission of Internet.org is to connect everyone and our goal is to accelerate the process of connecting the unconnected that is to connect two-thirds of the world population. And India provides a big opportunity, with its population and the number of unconnected people. As many as a quarter of the world’s offline population is in India. Moreover, when people get onto the Internet, they generate ideas, they can access job opportunities, which will help not only India, but the world at large. Original post at ET Telecom