Reliance Industries is betting big on its own telecom business, and has turned the spotlight on the Indian telecom space, where it aims to achieve a clear lead with its telecom business arm Reliance Jio.
RIL Chairman Mukesh Ambani told shareholders today at the company’s 39th AGM that he was bullish on India’s digital services market.
Stating that data services would be more widely available, he said that the broadband prices are expected to fall drastically with the company’s telecom foray.
He told the audience: “We have also finalised the key vendor and supplier partnerships that are required for the initial launch of our services.’’
Digital services
With regards to his bullish view about the potential of the Indian digital services market, he said, many would count him “among the optimistic minority in the industry’’.
“Reliance has a unique greenfield opportunity to contribute to this transformation by creating not just a cutting-edge broadband network, but also a powerful platform on which a range of rich digital services can be enabled,’’ he said.
Announcing the company’s plans for the next 12 months together with some partners, the Chairman said: “We at Reliance Jio foresee making rapid progress over this period towards launching our services across India.’’
“Our vision for India is that broadband and digital services will no longer be a luxury item, a scarce commodity, to be rationed among the privileged few. We envision an India where these are basic necessities to be consumed in abundance by consumers and small businesses alike,’’ he said.
From less than 700 professionals a year ago, most of them based in the company’s Navi Mumbai campus, the Reliance Jio team has a national footprint of over 3,000 professionals. The company plans to strengthen the team to nearly 10,000 professionals in the next one year.