Mukesh Ambani: Reliance Jio World’s Biggest Startup

Mr. Mukesh Ambani, chairman of Reliance Industries, described Reliance Jio as the world’s biggest startup with an investment of INR 150,000 crore. The company will offer broadband speeds up to 80 times faster than current offerings. The huge investment is the biggest ever for any digital startup.

Mr. Mukesh Ambani aims to expand the coverage of the high-speed internet in the country by more than 90% by 2017.

FICCI Frames- India’s largest media and entertainment Summit

Addressing the keynote at the FICCI Frames 2016, Mr. Mukesh Ambani said that the motivation behind Jio is the opportunity to change the lives of 1.3 billion people. His vision is to drive the ranking of the country’s mobile internet access to among the top 10 nations, from its current 150th rank among the 230 countries. Mr. Ambani said that as the world is on a digital spree, India and Indians can’t afford to be left behind

Digitization is the Defining Trend and Jio Shares theVision

“Jio is sure to be the largest transformational green-field digital initiative in the world”, said Mr. Mukesh Ambani. The focus of Jio is to commercially launch high-speed 4G network with the focus on data services by the end of December 2016.

During the address, Mr. Mukesh Ambani even mentioned that the domestic media and entertainment industry is expected to be USD 100 billion in the next decade, as it has grown from USD 2 billion in 2004 to USD 18 billion in 2015.

According to him, digitization is the defining trend of the era, and if you don’t have a globally competitive digital tool, survival will be disruptive, and you will become irrelevant. Jio will support this digital transformation and will offer their services with 70% coverage right from day 1. Mr Ambani also reiterated that the service would be cost-effective.

Jio and its alliances are making every effort to ensure that its coverage is more than 90% by 2017. Mr. Mukesh Ambani promised high-quality services, where Jio will assure a speed that is 40-80% times faster than the internet speeds available today.

Summary

Reliance Industries chairman, Mr. Mukesh Ambani said that Reliance Jio is the world’s biggest startup with an investment of over INR 1.5 lakh crores.