On 15th July Reliance industries held its 43rd Annual General Meeting for its shareholders. Since the people were not able to physically attend the AGM, they held a virtual AGN and 3 lakh shareholders from 42 countries attended the meeting. At the AGM Reliance Group Chairman Mukesh Ambani announced that Jio has developed a Jio 5G with high-speed internet. It can be used all over India. The entire technology has been made completely in India by Jio which is expected to be ready by next year. With 5G people can use it for various ventures like finance, education, business, health, agriculture, etc. This 5G, technology will also be sold to other nations. At the AGM Mukesh also announced that Google will also be investing 4.5 billion dollars which is Rs 33.373 crore in Jio. Google will be investing the money and purchasing 7.7% shares of Jio. Google is now the 14th company to make such an investment in Jio.
In the last few months, Jio has secured a total of Rs 1, 52, 055 crores in investment Jio has sold 32.94% of its share till now by partnering with Google, Jio plans to make an affordable Smartphone that supports 4G and 5G. Mukesh Ambani’s son Akash Ambani said that Jio set-top box will come with Jio TV plus that will have content from Amazon Prime, Netflix, Visit, YouTube, etc. Many app developers will be able to submit their apps on the Jio platform and earn profits. During the AGM, Jio launched the latest product called the Jio Glass. Reliance President Kiran Thomas wore the glasses and explained its uses. He said if you are at home and want to attend a meeting, all you have to do is wear the glasses and you can participate in the meeting. It’s very easy to use. He explained wearing the glasses and placed a video call to Akash Ambani and a 3D Avatar of Akash popped up on the screen. Alongside him was Isha Ambani in a normal 2D image and they were having a conversation. Kiran demonstrated how glasses could be used to conduct meetings and you can also show PPT presentations. Nita Ambani, wife of Mukesh Ambani and the chairperson and founder of the Reliance Foundation said that to fight the COVID outbreak, the foundation will be conducting testing of COVID-19 in partnership with many state governments. She also announced that as soon as the vaccine is available, Reliance and Jio companies will make sure the vaccine reaches every corner of the country.
This is a very exciting week but reliance has been making headlines after headlines from the past few months. There has been big news coming from reliance’s Jio platform with these announcements. There was a pic on Twitter that depicted the absolute revolution strategy of Reliance. Reliance logo is in the center of the ecosystem with the non-Jio ecosystem surrounding them and being at war with them. This is the biggest takeaway from what Ambani has been building on and wants to go to war in e-commerce, he wants to go to war in telecom devices, he is already at war with telecom service providers and now Ambani is going to war for 5G domination. Ambani has raised tons of money and has a big war in his hands as he is a competent businessman and he will give his best to win it. But the big takeaway is that Ambani’s ambition is huge. The money that has been coming, in a way, sponsors this ambition.
How is reliance’s Jio planning to war in different parts of the ecosystem?
The first thing Ambani wants to do is running a 5G network and he has promised to build it by himself in India is the first component. At the very backbone, the telecom network itself Ambani wants to build. He wants to run a 5G and 4G telecom services which are what Airtel and Vodafone have been doing is the second component. The third component is running on the network which was built by Ambani’s Made in India hardware and running a Jio 5G service. On top of the third component will be software services and telecom services, media services, value-added services that Ambani will bring to the table. These include Jio meet, calling services, video calls, movies and chats, and so on. The fourth important component will be e-commerce. Jio mart is a big component of Ambani’s ambition. He plans to bring a lot of farmers and retailers and connect to various rural as well as urban spaces. On the end, Ambani is trying to set up a made in India 5G networks, at the other end he wants to give 500 million users consumer electronics which is affordable mobile phones. He wants to give you Jio glasses, Jio TV plus, Jio accessories, and many more which will plug into the Jio ecosystem. So Ambani is looking at 5 conventional different businesses and planning to bring all of them together into one and does want to win in all five of them. It’s pretty ambitious, for such ambition has not been seen before for there wasn’t an Indian company or any digital or Telecom Company in the world has tried to do this ever. if we try to look at different telecom companies and digital media companies and huge technology companies, none of them are into all these 5 areas.
WeChat, a Chinese hardware company that made a big super app but they are not into running a telecom network, Apple is a hardware company largely with an active ecosystem that also facilitates the sale of its hardware but Apple is largely a devices company. Google is a technology company that does not dabble a lot into running a telecom network or building a lot of devices. Google does dabble in hardware but hardware is not Google’s core business. Vodafone, a major telecom company and MNC massive presence across the world, they don’t get into trying to do software or trying to manufacture hardware for 500 million user-based. So, what Ambani brings to the table is a full spectrum in media and technology and Telecom domination.
The likes of which we have not seen before, this is ambition on steroids. Nobody has ever dared to dream or try such a thing. Should an Indian company with such an ambition succeed, it bodes very well for an ambitious country like India. With reliance on becoming a zone of attraction for American technology giant hunts, we can expect to look forward to new investors even more so. The idea is set, the plan is being implemented, and very soon the hopes of millions of people on finding a 5G network or just adding grocery lists, everything will soon be made easy. Ambani is starting a digital revolution, this project if come in action, will be the biggest boost to our revenue, our digital development, and our upliftment. This will be the accelerator for making India a developed country. Jio’s news is honey to our ears and we cannot wait to see how it plans out. But with Reliance Jio’s new plans have brought hopes of post-COVID-19 celebration in them. Let the digital war begin!