Mukesh Ambani speech at the Reliance Industries Ltd Annual General Meeting (AGM) said, that no one can stop the rise of Indian economy and it would touch 10 trillion dollars by 2030.
*Reliance Jio Fiber broadband services are set to launch from September 5. Jio Fiber, which is a combo service of broadband, fixed and television, could also be a market Disruption like telecom operator Reliance Jio.
Jio Fibre will offer internet speeds of 100 mbps, going up to 1,000 mega bytes per second, to be priced at Rs 700 to Rs 10,000 a month, the RIL chairman said. He also mentioned that the voice calls from Jio Fibre fixed line phones to anywhere in the country will be free for life.
Reliance Industries to get Rs 7,000 crore by selling 49 per cent stake in its fuel retail business to BP, Mr Ambani said.
Saudi Aramco to take 20 per cent stake in Reliance’s oil-to-chemical business for an enterprise value of $75 billion. Saudi Aramco will supply 500,000 barrels per day of crude oil to Reliance refineries.
Investment cycle of Reliance Jio is now complete and about Rs 3.5 lakh crore invested in high-speed 4G network: Ambani.
Mukesh Ambani also announced Internet of Things (IoT) for entire country, home and enterprise broadband, broadband for SME (small and medium enterprises).
The Jio boss’ Mr Mukesh Ambani’s announcement to make cloud Freely available for start-ups is a welcome move by Indian start-up community. This indeed is significant and important step for Reliance’s good Old “Karlo Duniya Mutthi Main” mission. Isn’t Mr Ambani s announcements the most look forward just like the “Mitron..” types by PM Modi. Something that makes curious and exciting always! Good times ahead for Internet start-ups in India.
Terming Jio’s journey since 2016 as “incredible”, Mukesh Ambani said that India was “data dark” before the entry of Jio into the telecom market.
5 people who changed India in last 30 years.
– Narendra Modi with JanDhan financial inclusion and digital governance
– Nandan Nilankani with Aadhar
– Mukesh Ambani with mobile & data revolution
– Dr ManMohan Singh with 1991 economic reforms
– APJ Abdul Kalam with India’s Nuclear program
“India’s Reliance to roll out fibre broadband, unveils oil stake sale to Aramco”.”Reliance Industries unveiled plans to launch high-speed internet services in India, a tie-up with Microsoft and a stake sale in its oil business to Saudi Aramco, underscoring billionaire Chairman Mukesh Ambani’s ambitions for the group. “The big tech push comes as the group bolsters its consumer-focused retail and telecoms units to match the strength of its key oil-and-gas business. Its startup Jio has upended the telco sector by providing cheap data connectivity and becoming India’s top mobile operator by subscribers in just three years.”
In what could be one of the biggest developments in retail space in India, Jeff Bezos-led e-commerce marketplace Amazon is in talks with Mukesh Ambani-led Reliance Retail to acquire 26% stake in country’s biggest physical retailer.
According to the report, Amazon is impressed with Reliance Retail’s market position in electronics, mobile phones, and grocery stores.
Amazon is also cautious to not violate Press Note 2 by not buying more than 26% stake in Reliance Retail. This structure will allow Amazon to list the retail arm of Reliance as a seller on the marketplace. Marketplace firms are barred from owning more than 26% stake in sellers under Foreign Direct Investment (FDI).
The deal which is far from fructification will help Reliance to reduce its debt, which had reached Rs 2.88 lakh crore by June-end. It’s worth noting that the company was also in talks with Alibaba for investment last year. However, the conversation didn’t progress.
Reliance’s much talked about e-commerce foray has exposed Amazon and Flipkart to a new competitor with a very deep pocket. Many experts anticipate that it may disrupt e-commerce as it did telecom.
Amazon and Reliance might have realized that fighting against each other is not worth their while. Hence, they are considering a collaboration.
An intriguing look at Reliance Jio’s quest to dominate in digital India by capturing the spending of Indian households and creating an ecosystem for data, content and retail (especially for the small retailers that dominate in India.
Mukesh Ambani is on his way of creating a global empire. His recent project of acquiring Hamleys was his first step that made his presence felt in the international market and now his new venture of Tiffany stores certainly gives us an idea about his ambition of global business.
Mukesh Ambani famously said that Data is the new oil. Now with the government insisting that all data generated in India be stored locally, data centres could be the next big business opportunity. And the Adani Group, led by Gautam Adani is betting big on it.
According to a Business Line report, Adani Group may be entering the data centre business in line with the Central Government’s policy. The government of India has before it, a draft Personal Data Protection Bill which may become law soon. Large companies like Google and Amazon and many others will then be looking to setup their data centres here. Adani wants to capitalize on this opportunity and be ready with the real estate with land and buildings that could be developed into ‘data parks’