World Economic Forum: Bob van Dijk: Why we are excited about India, recyclables

Bob van Dijk, the Group CEO of Naspers and Prosus, recently expressed his excitement about the Indian market and the potential for growth in recyclables during a televised interview at the World Economic Forum. Van Dijk highlighted the opportunities in India, emphasizing the country's position as the largest internet market in the world. He praised the progress made by Chinese tech companies, particularly Tencent, in improving the quality of life through technology. Van Dijk addressed concerns about privacy and the role of tech in people's lives, acknowledging that privacy is a significant issue. He emphasized the importance of responsible tech usage and commended Tencent for taking proactive steps to ensure the responsible deployment of technology. Van Dijk also discussed the influx of capital into the tech industry, noting the abundance of funding available for startups and the potential risks of overheating in the market. The conversation then shifted to the evaluation of investment opportunities, with Van Dijk referencing the challenges faced by the Indian tech industry four years ago. He highlighted the disconnect between high valuations and operational realities, leading to a cautious approach to investments in India at that time. Van Dijk emphasized the importance of aligning investment decisions with the long-term viability of businesses. When queried about future investment strategies, Van Dijk outlined the three core focus areas for Naspers and Prosus. The company is heavily invested in food delivery services, viewing it as a transformative 20-year growth opportunity. Additionally, Naspers and Prosus have made significant investments in the trading of secondhand goods, or classifieds, across 30 global markets. Van Dijk underscored the importance of promoting recycling and reuse initiatives, signaling a strong commitment to sustainability. Finally, the company is keen on expanding its presence in financial services and promoting financial inclusion in emerging markets like India. Overall, Bob van Dijk's insights shed light on the company's strategic priorities and its optimistic outlook on the Indian market and sustainable business initiatives. With a focus on responsible tech deployment and long-term growth opportunities, Naspers and Prosus seem poised to capitalize on evolving consumer trends and sustainability imperatives in the global marketplace.