Mukesh Ambani welcomes Google to Jio Platforms : RIL AGM Highlight


Published On: Wednesday, July 15, 2020 | By:

Mukesh Ambani welcomes Google to Jio Platforms : RIL AGM Highlight

Google will invest Rs 33,737 crore for a 7.7 percent stake in Jio Platforms, announced RIL chairman, Mukesh Ambani at the 43rd Annual General Meeting of RIL shareholders. Addressing shareholders virtually, Ambani thanked them for their faith in the company and highlighted the recent capital raising efforts of the company that includes a rights issue and stake sales in Jio Platforms. Calling coronavirus the most disruptive event in modern world history, he said that adversity brings opportunity for growth. "Jio has designed and developed a complete 5G solution from scratch. It will be ready for trials as soon as the 5G spectrum is available and can be ready for field deployment next year," Ambani said at Reliance Industries' annual general meeting.

Jio's global-scale 4G and fibre network is powered by several core software technologies and components. "It is this capability and know-how that positions Jio on the cutting edge of another exciting frontier 5G," he said.

Jio Platforms, with over 20 startup partners, has built world-class capabilities in technologies such as 4G, 5G, Cloud computing, Devices and OS, Big Data, AI, AR/VR, Blockchain, Natural Language Understanding and Computer Vision, he said.

"Using these technologies, we can create compelling solutions across multiple industry verticals like media, financial services, new commerce, education, healthcare, agriculture, smart cities, smart manufacturing & smart mobility," he said, adding Jio Platforms is conceived with vision of developing original, captive intellectual property, using which we can demonstrate transformative power of technology across multiple ecosystems first in India, and then rest of world.

In the next three years, Jio will connect half a billion mobile customers, a billion smart sensors and 50 million home and business establishments, Ambani said.

"We have fully kickstarted five accelerators of growth of digital connectivity: Mobile broadband, JioFiber, Jio's enterprise broadband, broadband for SMEs, and Jio's Narrowband Internet-of-Things (NBIoT)," he noted.

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