Saturday, October 24, 2020
Home News Reports Mukesh Ambani announces India’s biggest FDI deal, free HD LED TV and 4K set-top...

Mukesh Ambani announces India’s biggest FDI deal, free HD LED TV and 4K set-top boxes for Jio Fibre subscribers

New movies will be available on Jio TV on the same day they are released on theatres under the Jio First Day First Show service

Reliance Industries Chairman Mukesh Ambani made several landmark announcements while addressing the shareholders at the 42nd Annual General Meeting of the company. He presented a future roadmap of the company across several sectors such as oil, telecom, software, retail etc.

The biggest announcement defying all the talk of economic slowdown was the announcement of India’s largest foreign direct investment deal ever. Mukesh Ambani informed that Saudi Aramco will acquire a 20% stack in the oil-to-chemicals (OTC) division of Reliance Industries at an enterprise valuation of $75 billion. Aramco also signed a long-term supply agreement with RIL, and will supply 5,00,000 barrels of crude oil per day to Reliance’s Jamnagar Refinery. Saudi Aramco is one of the largest oil companies by revenue in the world, and is estimated to be most profitable company.

Reliance will create a special purpose vehicle comprising of the twin refineries in Jamnagar and its petrochemical business, where Aramco will pick up 20% stack.

The Reliance Chairman also announced the much-awaited commercial launch of the Jio Fiber service, the wired broadband service of Jio, which will be launched on 5th September. He said that minimum speed on the fibre-to-the-home (FTTH) service will be 100 mbps, and it will go upto 1 gbps. He mentioned that the minimum speed is higher than the average broadband speed in the US at 90 mbps. The tariff for Jio Fibre will range from ₹700 to ₹10000 per month. Apart from broadband internet, Jio Fibre will offer free voice calls to any Indian mobile and fixed-line operator, while unlimited internet calling to US and Canada will be available at ₹500 per month.

Jio fibre services will be bundled with Jio HomeTV service. Mukesh Ambani also announced that those consumers who subscribe to Jio Forever Plans, the long-term annual plans of Jiio Fibre, will get an HD/4K LED TV and a 4K set-top box free as a welcome offer. Complete detail of tariff and terms and conditions of the service will be announced on 5th September. Jio Fibre was announced in August last year and at present, it is available as a preview service in select cities. Mukesh Ambani informed that the Jio wireless service is already 4G+, and it is ready for 5G services.

Isha and Akash Ambani demonstrate Jio set top

He also introduced a disruptive service in the entertainment sector, Jio First Day First Show. Under this service, new movies will be available on Jio TV on the same day they are released on theatres.

Reliance also announced several enterprise services and announced a tie-up with tech giant Microsoft in this regard. Jio and Microsoft will set up new cloud data centres in India, and both will jointly offer Microsoft’s flagship Office 365 service to enterprise customers, Microsoft CEO Satya Nadella said via video conference during the RIL AGM. Microsoft will bring its Azure Cloud platform to Jio Network. “Together, we will offer a comprehensive technology solution from compute to storage to connectivity and productivity for small and medium size businesses everywhere in the country”, Nadella said. He added that the partnership will launch new data centres in India.

Mukesh Ambani said that that the company will support startups by offering cloud technology and connectivity for free. 80% of investments by start-ups go into cloud solutions, Jio will provide that connectivity free to all start-ups in India, he said. Startups will be able to sign up on Reliance Jio website to avails this service. He also informed that Jio will offer connectivity plus application services to small and medium businesses at ₹1,500 per month, which is one-tenth of the current market rate.

Talking about the retail business of Reliance, Mukesh Amani announced the launch of New Commerce, and retail partnership platform. New Commerce will transform unorganised retail into organised retail, and it is meant to revolutionise 3 crore kirana stores in India. He said that percent point of sale solution is integral to Reliance Retail’s business strategy, which is a $700 billion business opportunity.

Making an important announcement, Mukesh Ambani said that he supports PM Narendra Modi’s call to develop Jammu & Kashmir and Ladakh, and the company is ready to help people in these regions in all their developmental needs. He informed Reliance will announce developmental initiatives for the region in the coming months.

Mukesh Ambani presented an ambitious future of the company, saying he is confident of growing at 15% per year over the next 5 years. He also said that RIL has set a target to be a zero debt company within the next 18 months, and Jio and Retail will be listed within the next 5 years.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

Pakistan fumes over reports of Saudi denying permission for ‘Kashmir Black Day’ program after it voted against it at FATF

After certain media reports suggested that Saudi Arabia had voted against Pakistan at the FATF plenary keeping it in grey list, the Arab nation has now reportedly denied Pakistan permission to hold 'Kashmir Black Day' on 27th October.

Faisal Khan says he wants to come out of brother Aamir Khan’s shadow who had earlier called him ‘mentally ill’

Faisal Khan said he will have to break out of his superstar brother's shadow and make his own decisions so that people recognise him as an individual

Exclusive: Conversation that shows how Mumbai Police is trying to coerce witness into naming Republic TV in TRP scam

While Hansa Research report and the FIR filed named India Today in TRP scam, in less than 24 hours, Mumbai Police had seemingly made up its mind that Republic TV was the culprit

Param Bir Singh now wants details of every purchase and expense made by Republic TV, even microphones, toilet papers, makeup and stationery

"This an overt attempt to harass a news organisation, infringe on its operations and bring back the Emergency-era way of functioning," Republic TV stated.

Bihar’s ‘lantern’ era has ended, those who made the state ‘Bimaru’ can not come back to power: PM Modi in Sasaram

PM Narendra Modi addressed his first election rally at Biada Maidan in Sasaram days before Bihar polls.

Legendary cricketer Kapil Dev suffers heart attack, admitted to Delhi hospital

Kapil Dev undergoes angioplasty surgery in Delhi after suffering a heart attack

Recently Popular

Exclusive: Conversation that shows how Mumbai Police is trying to coerce witness into naming Republic TV in TRP scam

While Hansa Research report and the FIR filed named India Today in TRP scam, in less than 24 hours, Mumbai Police had seemingly made up its mind that Republic TV was the culprit

‘He supplies drugs and girls’: Estranged wife of Mahesh Bhatt’s nephew Luviena Lodh alleges harassment by nephew-uncle duo

Luviena Lodh said that Mahesh Bhatt is the don of the industry, and he controls everything that goes on in the film industry

France: Charlie Hebdo cartoons projected on government building to express solidarity with deceased teacher who was beheaded by Islamic terrorist

Days after the barbaric beheading of teacher Samuel Paty on the streets of Paris by a terrorist for showing the cartoons of Prophet Mohammad to his students, support continues to pour in for the deceased teacher.

‘Jism ki garmi’: How Hindi film industry disregarded consent and normalised rape and molestation over the years

The Hindi film industry has, knowingly or unknowingly, convinced a generation of people that rape is normal when done in light of 'greater good'.

Lucknow: Jama Mazar caretaker ‘Kale Baba’ caught running sex racket, video goes viral

The caretaker has allegedly confessed to police that he was sexually exploiting women and engaging them in illicit activities in the name of curing infertility and other ailments.

Complaints filed against Eros Now and Arré for vulgar social media posts related to Navratri

Both Eros Now and Arre had published social media posts linking Navratri festival with sex and vulgarity
- Advertisement -

Pakistan fumes over reports of Saudi denying permission for ‘Kashmir Black Day’ program after it voted against it at FATF

After certain media reports suggested that Saudi Arabia had voted against Pakistan at the FATF plenary keeping it in grey list, the Arab nation has now reportedly denied Pakistan permission to hold 'Kashmir Black Day' on 27th October.

ED summons Punjab CM Captain Amarinder Singh’s son Raninder Singh in FEMA violation case

Amarinder Singh’s son Raninder Singh summoned by ED in relation to a trust named Jacaranda Trust & subsidiaries in British Virgin Islands

Delhi: Already married twice, e-rickshaw driver Dilbar Qureshi poses as Rahul to trap 13-year-old Hindu girl, calls the second wife his sister to deceive...

Dildar Qureshi elopes with minor Hindu girl in Delhi after introducing himself as Rahul, police launches a manhunt

OpIndia exclusive report vindicated: Bombay HC directs India Today to deposit Rs 5 lakh fine imposed by BARC for viewership data malpractice

OpIndia was the first to expose the matter regarding the show-cause notice being sent to India Today by BARC in April this year

‘He supplies drugs and girls’: Estranged wife of Mahesh Bhatt’s nephew Luviena Lodh alleges harassment by nephew-uncle duo

Luviena Lodh said that Mahesh Bhatt is the don of the industry, and he controls everything that goes on in the film industry

Mumbai Police registers FIR against the entire editorial team of Republic TV alleging incitement of disaffection among Mumbai police and defamation

FIR filed against the entire editorial team of the Republic TV for allegedly citing Hansa Research's report on the TRP scam case

Dalit woman gang-raped in Jalore in Rajasthan, victim files case after the accused circulate a video of the act

The victim had reportedly taken her goats for grazing when she was gang-raped by three persons in Jalore in Rajasthan 4 months ago

Tamil Nadu: Chidambaram MP Thol Thirumavalavan says Sanatana Dharma treats women as ‘sex workers’

"Women are basically created as prostitutes by God. All women are prostitutes as per Hindu Dharma, Manu Dharma. All women are prostitutes. This is what the Sanatana Dharma says", said the MP.

139 villages in Gujarat set an example in preventing Coronavirus before the world with not a single positive case recorded so far

The people in these villages have been strictly following the Coronavirus guidelines by wearing masks and following social distancing.

Kashmir: Two terrorists, Abid and Mehraj, surrender before the Indian army after the intervention of parents

When the presence of terrorists was confirmed, security forces called their parents to convince them to surrender

Connect with us

245,563FansLike
467,330FollowersFollow
19,100SubscribersSubscribe