The Paytm deal would be a vote of confidence in the India market amidst a brutal downturn in the venture market. Hundreds of fledgling companies are cutting staff or closing their doors. Indeed, SoftBank is said to be pressing Snapdeal, an Indian e-commerce provider it backs, to merge operations with market leader Flipkart Online Services Pvt. in what would be a dramatic sign of consolidation in the market.

https://www.bloomberg.com/news/articles/2017-05-02/softbank-said-in-talks-to-invest-1-4-billion-in-india-s-paytm