India remains top investment destination for Naspers, says chief Bob van Dijk
South Africa-based Naspers has invested in Indian startups such as Swiggy and Byju's.
July 28, 2020 / 12:33 PM IST
India has been a top investment destination for Naspers and will continue to remain so, said chief executive officer (CEO) Bob van Dijk. South Africa-based Naspers has investments in Indian startups such as Swiggy and Byju's.
"We have always made sure that we keep the jobs locally, the decision-making locally, the IP creation locally. That's always been good for us. India has been a top destination for investments, and I think it will continue to be so," van Dijk told The Economic Times.
Through its subsidiary Prosus, Naspers owns 31 percent of Chinese technology major Tencent.
"I cannot speak for Tencent, as they make their own investments and decisions. What I can say is, as a foreign investor, we have felt extremely welcomed in India for a long time," he said.
Van Dijk said due to geopolitical tensions, investing has become political, "which is a shame".
"Foreign investors are a great source for stimulating local economies and stimulating growth. Investing has become political, which is a shame, but geopolitical tensions are what they are across the world. We are a global company - neither a Chinese nor a US company - and we have always worked through local entrepreneurs, keeping jobs local which has served us well," Van Dijk said.
Van Dijk also spoke about Jio Platforms, the telecom unit of Reliance Industries, which has received funding from several global investors.
"If you're directly competing with a product coming out of the Jio portfolio then it may be something to scratch your head over because they are formidable. If I look at our businesses, I don't think they compete directly with what they run today, so I'm less focused on it," he said.Disclaimer: Reliance Industries Ltd., which owns Jio, is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.