JioGigaFibre will radically change broadband internet market in India: Mukesh Ambani
Mumbai, July 5: Asserting that Reliance is aiming at improving India's education system by connecting all the colleges with the global experts, Mukesh Ambani on Thursday said that JioGigaFibre technology will change the broadband internet market in the country.
Addressing at the Reliance Industries 41st annual general meeting today (July 5) at Birla Matushri Sabhagar in Mumbai, Mukesh Ambani, the Chairman and Managing Director of Reliance Industries, said the healthcare and agriculture platforms will also see huge integrations via JioGigaFiber.
"Starting 15 August you can start expressing interest through registrations for JioGigaFiber. We will prioritise those areas from where we get the highest registrations. We intend to take JioGigaFiber to India's top 5 broadband providing service. We have built unparalleled future proof ideas in the space. This has helped Reliance to transform into a tech-based company," he said.
Ambani said Jio GigaFiber will enable households to access ultra high-definition entertainment on large screen TVs, multi-party video conferencing from living room, voice-activated virtual assistants, virtual reality gaming, digital shopping and immersive experiences.
"We will invest in the best data analytics using artificial intelligence and use all new-age technologies to empower our new hybrid commerce platform. We will enable even the smallest merchant to earn more and employ more people and give Indian consumers the best experience," said Mukesh Ambani.
"JioGigaFiber has the potential to connect 50 million homes. While India aims to double its economy by 2025, I assure you that Reliance's size will grow by more than double in size in the same period," he added.
Two of the main features of JioGigaFibre will be smart home technology and TV calling. JioGigaFiber broadband will come with a set-top box for TV. It will have enabled voice command feature on TV. JioGigaFibre will be based on Fiber to the home (FTTH) technology. It is expected to disrupt the segment of home broadband services
He also said that Reliance paid Rs 42,553 crores in Goods and Services Tax (GST).
"Our net profits grew by 20.6% to Rs 36,075 Crores. The company's consumer business, Jio and retail represents about 13% of consolidated EBITDA (Earnings before interest, taxes, depreciation, and amortization)," he said.