RIL Inks a Deal WithCisco To Develop Its Core Technology Framework For 4G

RIL (Reliance Industries Limited), the only company to hold PAN India license for 4G connection has inked a partnership with Cisco to develop its core technology framework and has been actively gearing up for its 4G launch predicted to be by the end of the year.

Busting the earlier speculations that RIL will embrace a pricing strategy where it will cut down the prices, it has been opting for a similar pricing as Bharti’s, based on sources. However, it will set itself apart by rolling out new music and video applications. It intends to create an exclusive platform on the similar lines of iTunes and endeavors to introduce an array of services.

A skilled team at Cisco has been actively working to develop a core technological framework with the launch set to be before the end of the year. The conglomerate will also chip in a competent player for handling the network equipment framework. Companies including Huawei and ZTE are keen on bidding for the same.

MukeshAmbani led RIL with a nationwide spectrum has the license to cover 22 areas in comparison toBhartiAirtel’s8 markets. The platform for music and audio applications will comprise around 8-9 innovative services.Based on sources, RIL will resort to provision of differentiated services rather than reducing rates to have an upper hand over its competitors.

RIL was also the frontrunner in the 2G Auction in order to cater for the provision of voice services along with its data services. However, there are uncertainties over its 2G strategy whether it will involve an existing player or launch its own voice services. Its move will however act as a game changer considering the fact thatReliance –Infotelis the only PAN INDIA 4G-license holder. Winning the 2G auction will enable it to embark on a dual model – voice cum data services.

RIL Announces Its Membership with Dubai Mercantile Exchange

RIL, India‘s energy giant announced its membership with Dubai Mercantile Exchange on Wednesday. The DME deems it the first major enterprise in India to embark on a direct participation in a global oil future market, which reflects a persistent growth of Asian oil production. This membership decision is pulled off at a phase when the exchange was enjoying a boom with its trade pass crossing the 3 billion barrel mark this year, in the month of May.

Ahmad Sharaf, DME’s chairman expressed his delightedness on the announcement stating that this membership of the world’s premier energy companies manifests the position that DME holds as a top energy future and commodity exchange and will pave way for it into the fast progressing East of Suez crude oil corridor. He also mentioned that this membership was coincidental to their fifth anniversary when they have muscled their way to success. Speaking about the exchange, he stated that it is the leading energy futures and commodity exchange in the Middle East that caters to the provision of a financially safe, organized, and transparent trading environment. He believes that international membership of the top-notch players like Reliance Group will help them leverage their position in the coming five years when he expects the Asian Oil Market to grow at a tremendous rate.

The DME, majority owned by CME Group Inc., is a fully- electronic exchange with its contracts listed on the CME Globex. Based on the growth of its Oman Future Contract that is the world’s third official benchmark for Oil trading, it foresees an increasing Asian demand for Oil in the global arena.

Mukesh Ambani led RIL is the country’s largest private sector owning the Jamnagar refinery, one of the largest refineries in the world and the biggest in India with the highest crude oil processing capacity at any particular location in the world. Its processing capacity accounts to 1.24 million barrels per day. It will be the 26th off floor member of the DME.