Reliance Jio will roll out commercial home broadband plans under Jio Giga Fiber from September 5, Reliance Industries Limited Chairman Mukesh Ambani said on Monday, speaking at RIL's 42nd annual general meeting (AGM).
There were great speculations about the offerings and product releases before the AGM. These came to a rest after the company declared its future plans at the general meeting. Some of the major announcements that came from Mukesh Ambani-led Reliance were the sale of 20 percent stake in oil and chemical business to Saudi Aramco, the commercial launch of the long-awaited Jio Giga Fibre and a partnership for new cloud data centres in the country.
Ambani clarified that Jio Giga Fibre will offer lifetime free voice calls from landline phones and high-speed broadband with additions like high definition TV and dish at a monthly rental of Rs 700 to Rs 10,000.
Reliance gave the biggest shock to its customers with its announcement that the Giga Fibre will allow its users to stream new movies on the same day of release by mid-2020.
Ambani said the company has already received over 15 million registrations from about 1,600 towns for its Jio Fiber broadband service across India. He also confirmed that Jio's IoT services will be launched on January 1 next year, which will deliver around 20,000 crore revenue for the company.
Reliance Industries also put forward its plan to provide POS services to create an ecosystem around small merchants. The company proposes to modernise the smallest kirana store to a digitized store. Ambani also announced that Reliance Jio will provide connectivity and automation tools to Indian businesses at a monthly rental of Rs 1,500.
Mukesh Ambani also announced that Reliance Jio has entered into a long-term partnership with Microsoft to accelerate digital transformation with the help of new cloud data centres. The company also offered a plan to set up large-scale data centres across India with the help of Microsoft's Azure cloud platform.