Reliance Industries chairman and managing director, Mukesh Ambani made important announcements during the company’s 42nd Annual General Meeting (AGM).
Shri Mukesh D. Ambani addressing shareholders at 42nd Annual General Meeting of #RIL https://t.co/NmVIcbu17e
— Reliance Jio (@reliancejio) August 12, 2019
He announced the roll-out of Jio Fiber broadband services and that the high-speed internet service will be available to the general public from 5 September.
September 5th. Save the date.#RILAGM #RIL #MukeshAmbani #JioFiber #JioDigitalLife pic.twitter.com/41dLvdeSeR
— Reliance Jio (@reliancejio) August 12, 2019
The key announcement regarding the fiber-to-the-home (FTTH) broadband service made during the meeting was that the subscription will start at 700 rupees per month. This will be the base plan, offering 100Mbps data speed and the top-end plan will be 10,000 rupees, offering unlimited data at the speed of 1gigabyte per second (Gbps).
Comparing the lowest and highest plans of Jio Fiber, the prices will be less than one-tenth of the global rates. All the plans will be bundled with a landline connection with free voice calls for life, HD or 4K set top box and access to Jio’s Internet of Things (IoT). They have subsidised the cost of international voice calling, offering unlimited ISD calling to US and Canada at 500 per month.
Reliance is introducing ‘Jio First Day First Show’ for watching movies. Launching in mid-2020, it will allow premium users to watch movies on the same day of their release through this service. They are developing an innovative service using the 4G network called Narrowband Internet-of-Things (NBIoT). This will connect the whole of India with smart sensors whether residential, industrial or public and will be commercially available from 1 January 2020.
Within two years of launch, Jio has connected two billion to IoT devices in India and aims to connect one billion of these users through Jio’s IoT platform.
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Jio Forever plans for customers opting in for annual plans. Such long-term subscribers will get an HD or 4K LED TV and a 4K set top box absolutely free.
On the other hand, Jio has partnered with Microsoft to accelerate the digital transformation in India by launching new cloud data centres, setting up a network of world-class data centres using Microsoft’s Azure cloud platform.
One partnership, endless possibilities. Watch our Chairman, Mukesh Ambani and Microsoft CEO, @satyanadella talk about the long-term alliance between Jio & @Microsoft. https://t.co/7MhaeF3ecU#RILAGM #RIL #MukeshAmbani #JioDigitalLife #MicrosoftJioAlliance #SatyaNadella #Office365
— Reliance Jio (@reliancejio) August 12, 2019
The company is selling 20 percent of their stake in their oil and chemicals business to Aramco, a Saudi oil giant in around 15 billion dollars. They will also supply Reliance’s twin-refineries at Jamnagar in Gujarat with 7 lakh barrels of oil a day on a long-term basis Along with this, nearly half of their fuel retail business has been sold to BP of UK for seven thousand crore. This is the biggest foreign investment in the history of Reliance as well as in India.
