Reliance jio is Mukesh Ambani’s $20 billion start-up After oil business!
Mukesh Ambani said,
“For Reliance… data is the new oil, and intelligent data is the new petrol,”
Understand in Short
- The Reliance jio project could make RIL the most comprehensive provider of telecom and Internet services across India.
- And give it unprecedented access to the country’s untapped ‘big data’—how millions eat, shop and have fun.
- Mukesh Ambani is the 59-year-old India’s richest man.
- Reliance Industries Ltd (RIL), an oil and gas group, is the country’s most profitable.
- Now, Ambani is betting $20 billion on building, from scratch, a national digital empire stretching from phones and hardware to home entertainment and custom-made apps also .
- Reliance jio is unlikely to contribute significantly to RIL profits anytime soon, but is too hugely significant for its future.
- Jio is a potentially landmark opportunity for India, Beacuse smartphone usage has Expanded and services such as mobile payments and online entertainment have become commonplace.
- Reliance jio is testing its network by offering free connections with unlimited data for a three-month period.
- Jio, is not yet commercially launched, but it raise hopes of cheaper, more reliable data for Indian users.
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About ambition of Reliance:-
- India’s 1.3 billion population are not online, and Jio hopes to capture 100 million users within a year of launch.
- Reliance jio, named from a Hindi exhortation to ‘live on’,
- According to commerce ministry, Jio has more than Rs 32,500 crore of long-term debt.
- Other liabilities topping Rs 58,000 crore as of March also.
- In addition, RIL has spent over Rs.29,000 crore on Jio and is expected to invest more.
- Reliance says its oil business is pumping out cash, and any investment in Jio has to be ambitious.
- Mukesh was laying fibre cables again and set up a subsidiary, Rancore, to build its own mobile telephony technology.
- In 2010, Mukesh’s Reliance Industries bought Infotel Broadband and decided it to offer more than a high-speed 4G network service.
- Airtel, Vodafone and Idea declined to comment on Jio.
Know About Reliance City:-
- Reliance jio has a biggest campus, a sprawling cluster of glass buildings, manicured lawns and giant Jio logos outside Mumbai.
- The campus has 15,000 employees working for Jio alone, plus hundreds of consultants and service providers.
- There are large guest houses and hotels.
- RIL has put on show everything In a single hall from its e-payment mechanism and music-streaming app to its messaging app.
- sleek Jio smartphones sold at a fraction of the cost of an iPhone .
- There are many connected cars and even a replica home.
- Mukesh Ambani’s son Akash, is Jio’s head of strategy.
One company insider said,
The Jio logo is actually a mirror image of the word ‘oil’, reflecting in a way RIL’s journey from oil drilling to data mining.