"Starting 5th September, we are launching Jio Fiber services commercially across India," Mukesh Ambani announced at the 42nd Annual General Meeting of Reliance Industries.
Reliance Industries Ltd (RIL) chairman and managing director Mukesh Ambani at the 42nd Annual General Meeting (Post-IPO) of Reliance Industries Ltd in Mumbai announced that much-awaited Jio Fiber commercial services will be available from September 5.
"Starting 5th September, we are launching Jio Fiber services commercially across India," Mukesh Ambani announced at the 42nd Annual General Meeting of Reliance Industries.
Reliance chairman said that Jio Fiber tariff plan will start from Rs 700 per month.
"We can upgrade Jio into 5G with minimum incremental costs. Jio Fiber Services will be launched on a commercial basis on September 5 -- on the third anniversary of Jio's launch. We plan to reach 20 million residences and 15 million business establishments in 1,600 towns," Ambani informed.
"80% cost of running a start-up goes towards cloud & connectivity infrastructure. Jio is ready to take away that cost by making cloud and connectivity infrastructure absolutely free for start-ups. Our intention is to start this service from January 1, 2020," Mukesh Ambani added.
Mukesh Ambani also announced the biggest foreign investment in the history of Reliance. He said Saudi Aramco and Reliance have agreed to form a long-term partnership in our Oil to Chemicals (O2C) division.
Addressing the annual general meet, Mukesh Ambani endorsed PM Modi's idea of achieving the target of $5 trillion economy by 2022.
Mukesh Ambani said, 'Our Prime Minister has set the goal of making India a five trillion dollar economy by 2022. I fully endorse the idea. In fact, I see India becoming a 10 trillion dollar economy by 2030. The slowdown in some sectors of the economy is temporary. India's fundamentals are very strong."
"As India is getting transformed into New India, Reliance will also transform itself into New Reliance," said Ambani while pointing towards new businesses like Jio and consumer retail.
Jio has not only become the largest operator in India but the second-largest operator in the world, Ambani asserted, adding that Reliance has put Rs 3.5 lakh crore in the investment cycle.
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