At the 43rd AGM of Reliance Industries, Ambani made a big announcement about 5G and said that Jio will start 5G service in India. Mukesh Ambani said that Jio will add half a billion mobile customers in the coming three years. He said that Jio has developed complete 5G technology, which will provide world-class 5G service in India. Trials will start as soon as the 5G spectrum is available. This technology can be prepared by next year for field use. He said that his effort is to provide cheap smartphones to 35 crore Indians currently using 2G phones. He said that together with Google, they will make 4G-5G smartphones based on the Android operating system.
Today, through Reliance Industries Chairman Mukesh Ambani Virtual Online AGM addressed 26 lakh shareholders spread across the world including India, USA, UK, Canada, Japan, Hong Kong.
Google to invest Rs 33,737 crore in Jio platform
The corona crisis is the most disruptive event in modern human history. However, I have no doubt that India and the world will progress faster, achieve greater prosperity, and a new quality of development after the COVID crisis. Mukesh Ambani welcomed investors. Mukesh Ambani expressed happiness that Reliance has now become a truly debt-free company. This target was achieved before the deadline of March 2021. He said that the company’s strong balance sheet will help growth plans for Jio, Retail, and Otusi. He also informed that Google will invest Rs 33,737 crore for a 7.7% stake in the Jio platform. He said that with the investment of Google, the raising of capital for Jio Platforms has been completed.
Jio and Google together to make India 2G-free
Mukesh Ambani said that Google and Jio together will create an operating system, which will be for the entry-level 4G / 5G smartphone. Jio and Google together will make India 2G-free. Mukesh Ambani said that India stands at the door of the 5G era. Our effort will be to provide cheap smartphones to 35 crore Indians currently using 2G phones. At the same time, video messages of Facebook head Mark Zuckerberg and Google CEO Sundar Pichai were also played at the AGM.
RIL is the highest GST and VAT paying company
Earlier, Ambani said about Reliance Industries that RIL is the highest GST and VAT paying company in the country. It is about 69372 crores in value. At the same time, RIL paid more than 8 thousand crore income tax last time. Mukesh Ambani said that Reliance became the first Indian company with a market cap of $ 150 billion.
Isha Ambani and Akash Ambani reveal the new Jio TV +
After Mukesh Ambani, Isha Ambani and Akash Ambani revealed the features of the new Jio TV +. This new Jio TV + will have all OTTI channels like Netflix, Amazon, Prime Video, Hotstar, which do not require separate ID password for login. Mukesh Ambani said that Jio Mart will be introduced with the technology of WhatsApp. Jio Mart will not only help the grocery stores to increase business but will also increase earnings.
Presenting JioMart, Isha Ambani said that this technology will convert existing grocery stores into self-stores within 48 hours. This will also completely change the customer experience. Regarding Jio Meet, Isha Ambani said that it is a cheap and extremely secure video conferencing app. Apart from this, a Geo Glass device weighing only 75 grams will have services related to Mix Realty. It will connect with a single cable. It will have 25 apps, which will help in video meetings with AR technology.
RIL shares fall
During the AGM, shares of Reliance started to fall and fell 3.71% to close at Rs 1845. The company’s share had reached historic high before Reliance Industry’s 43rd AGM. RIL’s stock rose nearly 2.12 percent to Rs 1957 in Wednesday’s trade. It fell to Rs 1910 during the AGM. Earlier on Tuesday, the stock closed at Rs 1917. The stock has gained nearly 125% so far on March 23 from its 52-week low of Rs 867.