Reliance AGM: Mukesh Ambani's tech ambitions will see RIL provide broadband via Jio GigaFiber nationwide

After shaking the mobile telephony market with free voice calls and dirt cheap data, Reliance Industries Limited (RIL), on Thursday, said it will roll out an ultra high-speed fixed-line broadband service nationwide. The move will see India’s largest private company push fibre into homes and offices, and provide the education and healthcare sectors the bandwidth needed to reach out to the masses. Speaking at the company’s 41st annual general meeting (AGM) in Mumbai, RIL chairman Mukesh Ambani said the planned fibre foray, christened Jio GigaFiber, will provide the following: ultra high definition (UHD) entertainment on TV, voice-activated assistance, virtual reality gaming, digital shopping, multi-party video conferencing from living rooms and smart home solutions. Jio GigaFibre can even redefine 24/7 emergency help for all homes, Ambani told shareholders gathered at the AGM, in the financial capital. [caption id=“attachment_4671291” align=“alignleft” width=“380”] Reliance Industries Chairman Mukesh Ambani at the 41st Annual General Meeting (AGM) of the company, in Mumbai. PTI[/caption] “We will now extend fibre connectivity to homes, merchants, small and medium enterprises and large enterprises simultaneously across 1,100 cities to offer the most advanced fibre-based broadband connectivity solutions,” he said. Jio, RIL’s telecom arm, will move India to the top five nations in the fixed-line broadband segment in the coming year, Ambani said. Jio’s launch in September 2016 made India the highest mobile data consuming nation. Ambani stated that Jio has helped Reliance strategically reinvent itself as a technology platform company. Digital platforms have become the new-age factories and service providers, he added. JioPhones Since its launch, mobile network operator Jio has amassed 215 million customers and has sold over 25 million Jio phones. The RIL boss is targeting 100 million Jio phone users in the ‘shortest possible time’. The Jio Phone, which was offered on payment of a refundable security deposit, will now provide WhatsApp, Facebook and YouTube access, commercially, from 15 August this year. Ambani also announced the Jio Phone ‘Monsoon Hungama’ starting 21 July, where feature phones can be exchanged for a Jio Phone for just Rs 501. That apart, a new Jio Phone 2 will be available at Rs 2,999 from 15 August, 2018. Jio GigaFiber  Registrations for the fixed line broadband service will begin from 15 August, Ambani said. Jio GigaFiber has the potential to connect 50 million homes. “While India aims to double its economy by 2025, I assure you that Reliance’s size will grow by more than double in size in the same period,” the RIL chairman said. He added that the country will have “the best education system by using JioGigaFiber…” “The healthcare and agriculture platforms will also see huge integrations via JioGigaFiber,” Ambani said. Retail footprint The company is planning to create a hybrid, online-to-offline “commerce platform of 35 crore customer footfalls at Reliance Retail, 21.5 crore Jio customers, 5 crore Jio Giga-home customers, and 3 crore small merchants and shop-keepers.”RIL on the transformation path The RIL chief said that as the world migrates from fossil fuels to renewable energy, the company will maximise its oil to chemicals conversion and upgrade all of its fuels to high-value petrochemicals. “The hydrocarbon business is thus posed for robust value creation and exciting times ahead. All these initiatives will enhance our capabilities and competencies, making us future-ready, as we transition from a cyclical business to [an] annuity business.” RIL, along with its joint venture (JV) partner BP, will continue to optimise its India business by pursuing integrated development in KG D6 Block. “In these gas field developments, we will deploy many advanced technologies to start gas production in 2020, and reaching full production of 30-35 MMSCMD by 2022. Our gas marketing JV with BP is looking for opportunities to source and distribute gas to Indian consumers including in cities,” Ambani said. Reliance, Ambani said, has reached an inflection point with the consumer business contributing as much as its energy and petrochemical businesses. Talking about employment generation in India, the RIL chief said, “Employment generation for all our youth has become a national imperative. Reliance has employed 2,00,000 people in the last two years. 10 lakh people were provided with an indirect livelihood.” With inputs from PTI (Disclosure: Reliance Industries Ltd is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd)