Reliance AGM 2019: Jio Fiber to be launched on Sep 5 starting Rs 700 per month

Mumbai, Aug 12: At its 42nd annual general meeting (AGM), Reliance Industries Limited chairman Mukesh Ambani said that Jio has not only become the largest operator in India but also the second-largest operator in the world. Making a big announcements, Ambani said that Jio Fiber Services will be launched on commercial basis on September 5 on Jio's 3rd anniversary and tariff starts at Rs 700.

He also said that Saudi Aramco would acquire 20 per cent stake in Reliance's oil-to-chem business.

Addressing the 42nd Annual General Meeting, Mukesh Ambani said, "in the golden year of Reliance, it was another year of robust business," adding that last year Reliance gained "profits in the retail sector as well".

CMD Mukesh Ambani said, "Skeptics used to say that Reliance cannot service in the consumer business. Relaince has proved them wrong. Jio crossed 340 million subscriber mark to become the world's fastest growing business. Reliance Jio is larger than all other major retail business put together."

Mukesh Ambani said Reliance will focus on increasing partnerships with global and local players. The company will also tie up with SMEs in India. He added that the company is going to focus on "value creation" in the near future.

Jio Fiber:

Jio Fiber Services will be launched on commercial basis on September 5 on Jio's 3rd anniversary. The company also demonstrated 1Gbps data speeds. It also showcased ultra fast multi-party video conferencing solution for home users.

Jio Fiber tariffs are based on four principles: simple to easy to understand tariff plans; average download fixed line speed in US is 90 megabytes per second. Jio's plans will start at 100 mbps and have plans of 1000 mbps. This will disproportionately improve the quality of fixed line data in India. Pricing our plans at less than 1/10th of global plans.

Ambani revealed Jio Fiber service generated 15 million registrations across 1,600 towns. The company plans to reach 20 million residences and 15 million business investments. Trial on-going with 0.5 million homes already. Jio is using "feedback" from the trial to fine-tune service. Jio Fiber's plans will be priced at ₹700- ₹10,000 per month.

Fixed international voice calling, we are ending the era of high international calls. Lowest international calls on Jio tariff will be 1/5th to 1/10th of existing prices. To US and Canada, unlimited voice calling so families can connect.

Jio Fiber customers who take up the annual plan will get an HD 4k LED television and a set-up box for free, says Mukesh Ambani.

Set-top box for cable TV:

Reliance Jio's 4K Set-top-box can accept broadcast signal from local cable operators partner cable.

Gaming platform:

Reliance also introduced a new gaming platform.The gaming set-top-box supports all popular controllers. You can do multiplayer gaming. The platform leverages Gigafiber's broadband service and is said to deliver "zero latency."