"We are now scouting for new ventures for investing, especially in the fields of communications and entertainment. We are also planning to invest more in our value-added services (VAS) venture for telecom companies and in handset manufacturing," Modi revealed to this newspaper about his future investment plans.
MCorp, owned by Modi, is in advanced stages of negotiations to acquire a 39 per cent stake in Mauritius-registered MSM, which owns Sony Entertainment Television. Value-added service provider Cellebrum, a group company, plans to hit the Indian capital markets to raise funds soon, he said.
"We are in discussion with the Indian shareholders of Sony Pictures," Modi said, refusing to divulge further details. The group would relaunch Sony under the Sony Spice brandname.
Modi, who had a series of joint ventures with American copier company Xerox, fax-machine maker Olivetti and telecom firm Alcatel, said he was proud of his achievements in India.
"We were the first to bring fax machines, photo-copiers and computers in the country. We are looking at investing in innovative technologies that can bring in prosperity to the world. We intend to invest in innovation, communications and entertainment," Modi said.
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With the world facing an energy crisis due to high oil prices, Modi is interested in investing in solar power. "We are looking for technologies that can change the world," he said.
Modi has exited telecom services because he saw not much scope for innovation. However, the his group is shifting its focus to mobile value-added services and handset manufacturing.
The group already has a listed handset manufacturing company