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Every town, taluka, and tehsil will have Jio 5G by December 2023 in the fastest rollout: Mukesh Ambani
The billionaire said Reliance Industries Ltd. was determined to making India a data-powered economy before China and the US in his remarks to investors at the company's 45th Annual General Meeting.
New Delhi: Mukesh Ambani, Chairman and Managing Director of Reliance Industries Ltd, announced on Monday that Jio, the company’s telecom arm, has devised “the world’s quickest 5G deployment plan” and will cover every tehsil in India by December 2023.
Ambani claimed the deployment would begin by Diwali 2022, including in the metropolises of Delhi, Mumbai, Chennai, and Kolkata while speaking to the 45th Annual General Meeting (AGM) of investors on Monday. The head of the oil-telco-retail conglomerate stated, “By December 2023, we will deliver Jio 5G to every town, taluka, and tehsil of India.”
The greatest quality and most affordable connections would be made possible by Jio 5G services, said Ambani. We are dedicated to putting India’s economy on the data-powered track even before China and the US.
Jio will roll out “standalone 5G,” the most recent iteration of the fast 5G network.
Reliance Jio Infocomm purchased spectrum in the 700MHz, 800MHz, 1800MHz, 3300MHz, and 26GHz bands during the government’s just finished 5G auctions.
Since its debut six years ago, Jio has broken numerous world records, most recently for the fastest installation of a 4G network.
Ambani also disclosed to shareholders that Reliance Retail has set records for revenue and EBITDA, reporting a total of Rs. 12,000 crore and Rs. 2 lakh crore, respectively. Reliance Retail is currently one of the top ten retailers in Asia, he continued.
Another indication that the 65-year-old business magnate was moving forward with a succession plan for his empire was the introduction of Ambani’s daughter Isha as head of the organization’s retail division.
At the virtual event, Isha Ambani announced that Reliance Retail would start a Fast Moving Consumer Goods (FMCG) business.
“We served over 200 million registered consumers,” she continued, “at Reliance Retail’s physical stores and digital platforms, which is similar to the population of the UK, France, and Italy taken together. Our stores saw 520 million walk-ins, an increase of 18% YoY, and our digital platforms saw 4.5 billion visitors, an increase of 2.3x YoY.
According to the corporation, digital commerce platforms continued to flourish as nearly six lakh orders were fulfilled daily, an increase of 2.5 times over the previous year.
Isha reported that the retail division opened over 2,500 stores in the past year, bringing the total number of stores to over 15,000, with a total operational space of 42 million square feet. She continued, “We introduced Freshpik, a gourmet format, and 7-Eleven for customers who are always on the run.
Reliance would invest 75,000 crore rupees in textile and petrochemicals, according to Mukesh Ambani.
According to Ambani, there is uncertainty because of rising geopolitical tensions and international threats. India is a beacon of stability and growth in the midst of the global financial crisis. By the end of the golden decade in 2027, RIL should have more than doubled in value.
According to him, RIL gained 2.32 lakh employment across all of its companies, with Reliance Retail growing to become one of the biggest employers in the nation.
