RIL AGM 2022: Here are the key announcements made by Mukesh Ambani

New Delhi, Aug 29: Mukesh Ambani made a slew of new announcements at the Annual General Meeting 2022 including 5G roll-out plan by Jio, ultra-affordable 5G smartphone in partnership with Google, and setting up of Giga Factory for Power Electronics.

Jio to invest Rs 2 lakh cr in 5G; rollout in metros by Diwali

Reliance Industries Ltd Chairman Mukesh Ambani announced a Rs 2 lakh crore investment in deploying fifth-generation or 5G telephony with rollout in metro cities by Diwali. Jio, the nation's largest telecom operator, has deployed standalone 5G stack rather than upgrading the existing 4G network, to offer ultra-high speed internet, he said at Reliance Industries' 45th AGM.

Jio will launch 5G services by Diwali in metro cities of Delhi, Mumbai, Kolkata and Chennai, he said adding this will be expanded to other cities and towns in phases to cover entire India in 18 months by December 2023.

Akash Ambani announces launch of JioAirFiber hotspot

Akash Ambani, chairman of Reliance Jio, on Monday announced the launch of JioAirfiber, a wifi hotspot that will allow consumers to access fiber-like speeds at homes and offices. He said with the 5G services being rolled out in India, the current 800 million connected internet devices will double to 1.5 billion connected internet devices in just a year.

Using Jio AirFiber, customers can opt to use a virtual PC - Jio Cloud PC. No upfront investments, no upgrades. A super-affordable way to bring the power of a PC, even multiple PCs, to every Indian home and business, says Kiran Thomas, President, RIL.

Jio and Meta collaborate to launch JioMart on WhatsApp

Tech giants Meta and Jio Platforms on Monday launched an end-to-end shopping experience, where users can shop from e-cpmmerce platform JioMart via using WhatsApp chat. The new experience will enable customers to browse the JioMart catalog, add products to the cart and make purchases all within WhatsApp.

"Excited to launch our partnership with JioMart in India. This is our first-ever end-to-end shopping experience on WhatsApp -- people can now buy groceries from JioMart right in a chat," Mark Zuckerberg, Founder and CEO, Meta, said in a Facebook Post.

"Business messaging is an area with real momentum and chat-based experiences like this will be the go-to way people and businesses communicate in the years to come," he added.

Reliance Retail to launch FMCG business this year

Reliance Retail will launch its FMCG business this year, Reliance Retail Ventures Ltd Director Isha Ambani said on Monday.

The objective of this business will be to develop and deliver products and solve every Indian's daily needs, with high quality products at affordable pricing, she said while addressing Reliance Industries' annual general meeting. ''This year, we will launch our FMCG goods business,'' she said.

Reliance to set up Giga Factory for Power Electronics

At the 45th RIL AGM, Mukesh Ambani, chairman and managing director of Reliance Industries, announced a new Giga Factory for Power Electronics. This will be one of the key components linking the entire value chain of Green Energy is affordable and reliable power electronics.

"We are building significant capabilities in the design and manufacturing of power electronics and software systems, integrating with our capabilities of Telecommunications, Cloud Computing and IoT platform. We will build this through partnerships with leading global players to provide most affordable solutions, meeting global standards of performance, safety, and reliability," said Ambani in his speech.

Mukesh Ambani on next-gen leaders

"Our next-gen leaders are confidently taking over the reins across businesses. Akash and Isha have assumed leadership roles in Jio and Retail respectively. Anant has also joined our New Energy business with great zeal," says Mukesh Ambani.