Key Highlights
- Reliance Jio 5G service to launch by Diwali this year
- Mukesh Ambani announced Rs. 2 lakh crore investment in deploying 5G services
- New Jio AirFiber launched in India
Today was the 45th annual general meeting of Reliance Industries Ltd. RIL Chairman and Managing Director Mukesh Ambani addressed the meeting and said that the company has made overall growth across all of its sectors and has become the first corporate in India to cross $100 billion in yearly revenues.
Jio 5G services will be accessible in Delhi, Mumbai, Kolkata, and Chennai by Diwali, according to Mukesh Ambani’s announcement. According to him, Reliance Jio’s 4G network has 421 million subscribers to mobile broadband services. By December 2023, Jio intends to roll out complete pan-India coverage.
Ambani said, “I want to announce the next leap forward that Jio is creating in digital connectivity, especially in fixed broadband. And that is JIO 5G services. Using 5G technology, we can dramatically reduce latency or lag, and deliver breakthrough increases in broadband speed, network capacity, and the number of connected users.”
Reliance will launch Jio 5G across multiple major cities, including the metropolises of Delhi, Mumbai, Kolkata, and Chennai, within the next two months, by Diwali, Ambani added.
During his speech, RIL Chairman Ambani said that Jio 5G will connect over 100 million homes with “unparalleled digital experiences and Smart Home solutions”. He further said that they will catapult tens of millions of small businesses and small merchants to great heights that will empower them with cutting-edge, plug-and-play solutions delivered from the Cloud.
The telecom company has further committed Rs. 2 lakh crores in order to roll out the 5G services. The company will start rolling out 5G in key cities before covering pan-India by December 2023, Mukesh Ambani added.
Apart from this, he pointed out, “Our company became India’s first corporate to cross $100 billion in annual revenues. Reliance’s consolidated revenues grew 47 percent to Rs 7.93 lakh crore, or $104.6 billion.”
Jio Chairman Akash Ambani also announced Jio AirFiber while speaking at the AGM. He said, “the idea of Jio 5G’s ultra-high-speed fixed-broadband is much more exciting. We are calling it Jio AirFiber since you can get fiber-like speeds wirelessly over the air without any cords. It would be quite simple to swiftly connect your house or office to gigabit-speed internet with Jio AirFiber.”
He said that the company has created a Jio AirFiber Home Gateway, a wireless, simple, single-device solution. Simply pick it up, plug it in, and turn it on. That’s it.
“Your home now has a personal Wi-Fi hotspot that is connected to True 5G for ultra-fast internet. Additionally, there are no unsightly wires entering your home because it is an end-to-end wireless solution,” said Akash Ambani.
