There are some people in India, who whenever come to speak on mic, they cause a wave of change in the nation. No, we are not talking today about our beloved PM Narendra Modi. We are talking about Mr Mukesh Ambani, Chairman of Reliance Group of Industries.
On 12th August 2019, Monday, Reliance held it’s 42nd Annual General Meeting which was attended by thousands of its shareholders and a large number of renowned personalities of the nation. The chairman himself came to address the stakeholders of the company, where he discussed the economy of the company which was followed by company’s future strategy in the telecommunication and internet business Industry as well as Reliance’s other businesses.
While addressing the people at 42nd AGM of Reliance, Mukesh Ambani announced one of the most awaited “Jio Giga Fiber Service” AKA FTTH Service (Fiber-to-the-home). Ambani in his speech told that the Jio Giga Fiber service will be officially available across the nation from 5th September 2019, which is the 3rd Anniversary of Jio.
Jio Giga Fiber Services
The Jio Giga Fiber is an internet service based on Optical Fiber technology. The optical fibre is one of the fastest modes of transferring data-packed over wired communication channels. Jio claims to provide one of the highest internet services in the nation at the least possible prices. Apart from Internet service, person opting for the Jio-Giga-Fiber service will have a lifetime free service of voice-calling.
Jio voice call service provided with the Jio-Giga Fiber will have the option to be made international by paying a small amount of Rs. 500 per month. This will enable the users to make unlimited free international calls to the USA & Canada.
The subscribers will get a permanent landline number which will have lifetime free incoming as well as out-going calling service. This service can be enjoyed by attaching a landline device to the modem or connecting the 4G smartphone to the wireless network. The phone must be installed with Jio-4G Voice App. Not only this, but the service receiver will also get a high-definition set-top box service for the television. These set-top boxes are compatible with almost every gaming console and support 4K gaming experience. Not only this, customers who opt for Jio fibre’s annual lifetime plans, they will get a 4k LED HD TV along with the set-top box absolutely free.
As stated by the Chairman, the service is being provided at 1/5th to 1/10th of the current global rates. The basic plan will have an internet speed of 100 Mbps which may range up to 1 Gbps while moving upwards in the plan range. Jio Giga-Fiber will offer service packages to its customers ranging from Rs. 700/- to Rs. 10,000/- per month.
The cheapest plans priced at Rs. 700/- will be providing an internet service with a speed of 100 Mbps, free landline service and some other services. However, as we move further in the plan range, the speed of the internet service shall increase. Also, the top-end plan, which is worth Rs. 10,000 will endure the subscribers with an internet speed of 1 Gbps along with premium Jio services like Jio-HomeTV & Jio’s IoT.
Jio’s Other New & Distinguished Services
Apart from Jio Giga Fiber Service, the 2nd thing which caught everyone’s attention the most was Jio’s “First Day First Show” service. The service states that the users will be able to watch the newly released movies on their TV screens in their living rooms, the same day the movie is released in theatres. Jio aims to release this service by the mid of the year 2020.
“Also, for the first time in India, we are introducing a disruptive concept for watching new movies. Premium Jio Fiber customers will be able to watch movies in their living rooms the same day these movies are released in theatres,” Ambani said.
Jio is set to offer a wide range of applications to it’s users from Digital TV to Cloud-Based Gaming. The mixed reality start-up “Tessaract” also featured itself during the meeting. Tessaract’s VR Headset device was displayed to the attendees. This headset can be used to watch movies, do online virtual shopping, studying etc. It is compatible with Jio’s set-top box.
Ambani also told that Jio Fiber’s pre-service plan has been successful. The company has been able to reach around 15 million people from 1600 towns across the nation already. They are aimed at reaching 20 million more people with the official launch of Jio Giga Fiber in those 1600 towns.
Apart from this, Jio has come up with business plans for start-ups to SMEs to large businesses. These Jio-Giga Fiber plans will endure their enterprise customers will special plans designed for business use. MSME businesses currently spend Rs. 20,000 p.m. for connectivity, productivity, and automation tools. Jio aims to bring this cost to as low as Rs. 1500/- per month.
Apart from this, Jio is soon to offer mobility services for delivering a platinum-grade product and service to the users.
Ambani also told about the upcoming Jio Postpaid service where the users will be given priority SIM-setup service at their home as well as outside. Jio will be providing data & voice connectivity to the users across all the devices. It will have options for family plans, along with international roaming with a small additional cost.
“Jio aims to connect at least 1 billion of these (connected devices) on Jio’s IoT platform. This translates into a Rs 20,000 crore per year revenue opportunity for Jio,” he said. Jio’s IoT (Internet of Things) platform will be available commercially from 1st January 2020.
RIL is the biggest company of India which stretches its arms across various business sectors including telecommunication, retail, petroleum and much more. On Reliance’s 41st AGM, Ambani had discussed launching JioGiga Fiber service which will provide highspeed internet service to the user, along with HD TV entertainment, voice-activated virtual reality gaming, digital shopping and much more smart and digital solutions to daily needs.
Jio’s role in India
Ambani also stated in the meeting that Jio has made India “Data Shining Bright”. Jio has around 340 million users around the nation with 10 million new users joining Jio every month. Jio is soon to reach half a billion people as a user base. Jio is India’s No.1 and world’s 2nd best telecom operator right now.
Apart from launching enterprise based Jio-Giga Fiber plans for businesses, Jio is also set to support startups by providing cloud infrastructures. Also, Ambani showed his zeal to invest in startups which are aimed at flourishing agriculture, skill development, healthcare etc.
Ambani also told how Reliance is the biggest taxpayer in the country. They pay Rs. 67,320 crore indirect taxes (GST & other)and Rs. 12,191, crores of direct taxes (Income Tax).
Jio Phone 3 launch
The launch of Jio’ s new phone “Jio Phone 3 was also announced during the meet. Another smartphone device which offers cashback on the return of the device. Although there were no details or specifications provided about the phone.
Ambani also announced Jio’s partnership with Microsoft. The two major technology giants will jointly launch cloud-based datacentres in the country. Also. the companies will promote Office 365 to more businesses and users in India. Jio is set to promote Microsoft’s cloud service Azure in India.
Apart from this, the two companies will be working together on several Digi-tech solutions including connectivity, computing, storage and other technology services. Microsoft & Jio will work together on bringing data analytics, AI (Artificial Intelligence), cognitive services, blockchain, Internet of Things, and edge computing to the reach of SMEs in India to help them grow and compete in the international markets.
Reliance FDI Plan
Ambani also announced Reliance Industries’ investment partnership with Saudi Aramco. The Saudi based company will invest 20% in RIL’s stakes in oil-to-chemical-business. It is approximately $75 bn which is equal to Rs. 5.3 lakh crore. The Saudi company will be supplying 5,00,000 oil barrels to RIL’s Jamnagar refinery.
Also, Reliance will get Rs. 7000 crores worth of funding from Bharat Petroleum. For this, RIL will let BP hold 49% in RIL’s fuel retail business.
These were the updates about what new is coming at Jio & RIL. Apart from this, the major discussions that took place at 42nd RIL AGM were about RIL’s overall economic growth and their contribution in India economy.