The 40th annual general meeting (AGM) of Reliance Industries was held on 18th June. In the meeting reliance Chairman Muksehs Ambani had highlighted the future of the much awaited 4G broadband network in the country under the brand of Reliance Jio.
He also informed the shareholders that limited set of trials for Jio are already underway and the expanded trials would begin from August 2014 which would continue through 2014 and early 2015. “The year 2015 will see the phased launch of Reliance Jio across India. Millions of customers would have started to use the digital platform and services in their daily lives. The fruits of the tremendous value created by this (Jio) Rs 70,000 crore initiative would start to flow,” he stated.
The broadband service will cover all states at launch accounting for 90 per cent urban India and 215,000 villages. Eventually it will cover over 600,000 villages. “They would ensure that every Indian has access to the state-of-the-art digital connectivity and services that are on par with or better than anywhere else in the world,” said Ambani proudly.
Throwing light on the reason for acquisition of Network18, Ambani said, “The acquisition through an open offer of Network18 media and investments and its subsidiary TV 18 broadcast by Independent Media Trust, the sole beneficiary of which is Reliance Industries is one aspect of the digital services play.” He stated that this would strengthen its 4G business at the intersect of telecom, web and digital commerce and the media through a suit of premiere digital properties.
The reason for strengthening its large projects, one of which is Jio is to get Reliance Industries closer finding its way into the presetigious list of Fortune 50 companies. He added: “Our efforts and focus over the next two years will be to intensify these initiatives and have them reach out to more citizens across the social spectrum. Reliance will be moving from investing in India’s economic future to integrating deeper with India’s social fabric.”
Source: http://cablequest.org/news/national-news/item/5263-cq-ril-to-launch-jio-in-phased-manner.html
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