Mukesh Ambani; US$88.7 billion
Reliance Industries (RIL) Chairman and Managing Director (CMD) Mukesh Ambani on August 12 announced that Jio’s Internet of Things (IoT) platform will be commercially available from January 1, 2020.
Addressing RIL’s 42nd Annual General Meeting (AGM), Ambani said that Jio aims to connect 1 billion homes via the IoT platform.
The annual revenue opportunity for Jio from IoT will be around Rs 20,000 crore, Ambani said.
Ambani also said that RIL was ready to kick-start “four new engines” of growth, which included IoT and home broadband.
IoT is an extension of internet connectivity for physical devices and everyday objects.
Among the other major announcements, RIL said Saudi Aramco is to buy 20 percent stake in its oil-to-chemicals business at an enterprise value of $75 billion.
Ambani also announced that RIL will complete the Jio Fiber rollout in the next 12 months.
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