Despite not announcing the Initial Public Offering (IPO) plans for Reliance Jio Infocomm, Reliance Industries Limited (RIL) unveiled a suite of products and solutions that will be offered by its telecom subsidiary, at its 46th Annual General Meeting (AGM). The conglomerate announced the rollout of Jio Airfiber, Jio SmartHome, its True 5G platform, AI solutions, and more.
RIL will launch a new high-speed wireless broadband service for homes and offices, called Jio AirFiber, on Ganesh Chaturthi — September 19, 2023. RIL added that the pan-India rollout of the services would be completed by December.
The Mukesh Ambani-led conglomerate also highlighted its new initiative, to upgrade over 200 million 2G users to 4G with the help of affordable devices like the Jio Bharat phone, which comes for just Rs 999. The 4G-enabled phone, which aims to reduce the digital divide, offers features such as video streaming, UPI payments, etc.
RIL also announced the Jio Smart Home, which will provide a gamut of services like home security, entertainment, control of connected appliances, etc., through Jio Fiber and Jio AirFiber.
Further, RIL announced the Jio True5G developer platform, which combines its 5G network, edge computing, and a spectrum of applications and services, and will cater to the needs of enterprises and small businesses. The platform will allow firms to activate network slicing on demand, deploy applications, and access a diverse ecosystem of partner applications.
RIL sees the enterprise segment as a key aspect of its future growth, and it will be coming up with the Jio True5G Lab, a facility that will enable its technology partners and enterprise customers to develop, test, and co-create multiple industry-specific 5G solutions.
The company also highlighted that it is developing 5G solutions in-house and that it will have over a million 5G cells by the end of 2023.
Talking about the performance of Reliance’s digital business, Mukesh Ambani told his shareholders that Jio's customer base has crossed the 450 million mark, reflecting year-on-year revenue growth of over 20 percent.
The RIL Chairman wrapped up the proceedings by stating that it will develop India-specific artificial intelligence (AI) models targeted at the country's government, businesses and consumers. He also revealed the company’s plans to create up to 2,000 MW of AI computing capacity, while adhering to green energy practices.
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