RIL Increases Jio Investment to Perfect its Greenfield Initiative

Increasing the $ 12.8 billion contribution made towards the development of Reliance Jio last year, CMD Mukesh Ambani reported the current figures to have exceeded $ 22 billion which is a 75% increase compared to the previous year. In terms of INR, it increased from Rs. 85,000 crore to Rs. 150,000 crore.

FICCI – FRAMES media convention

The three-day business conclave, FRAMES attracts the most influential industry leaders from all over Asia. The event held in March at Mumbai saw Mukesh Ambani deliver an inspirational speech. He said that through Jio, he envisions India ranking in the top 10 countries in terms of mobile internet, as opposed to the current 150th placement.

Spearheading the world’s largest start-up, Chairman of Reliance Industries Limited (RIL), Mr. Ambani stated that Jio is the largest Greenfield initiative in the digital industry, and is set to completely revolutionize the media landscape of the country.

Reliance Jio’s services

The telecom company offers an entirely integrated digital network consisting of devices, broadband, telephony services, and applications. Jio’s library of recorded as well as live sports, television shows, movies, and music, is already receiving good feedback.

Jio services have been devised keeping extensive coverage, high speeds, quality data, and affordability in mind. The telecom operator has been engineered to provide an average of 10 GB of data per user every month.

Reliance Jio’s impact in India 

Mukesh Ambani reviewed the progress made by the Indian media in the past 12 years. He believes that Jio will encourage and enable India to break out of its current state of digital poverty.

With a goal of covering 70% of the Indian population right from the first day, Jio aims to touch 90% of the country’s mobile coverage at lightning speeds towards the close of FY17. Jio’s 4G facilities are available in all 22 service areas and the company also stated that the services would be priced at half, or less than half of current competitors’ offerings. The broadband offerings would also be 80 times faster than the current speed in terms of efficiency.

Jio’s commercial launch

While no official statement from the company confirms any date, the analyst community is convinced that the operations will commence by late 2016. The soft launch saw employees, stakeholders, and invitees experience the beta version of Jio services and applications.

The emerging telecom giant is currently conducting final tests in order to fully optimize the bandwidth and create a seamless consumer experience.

Summary

RIL’s investment in Reliance Jio has witnessed a 75% increase. Jio is considered to be the world’s largest start-up, and is expected to alter the media landscape of India. It is also the biggest Greenfield digital initiative globally.

 

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