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Last Updated : Aug 12, 2019 04:25 PM IST | Source: Moneycontrol.com

Jio's IoT platform to be commercially available from January 2020: Mukesh Ambani

The annual revenue opportunity for Jio from IoT will be around Rs 20,000 crore, CMD Mukesh Ambani said

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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.

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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.

For LIVE updates of the RIL AGM, click here

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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First Published on Aug 12, 2019 11:53 am
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