Mukesh Ambani has announced to launch of a 5G mobile internet service in India in two months. He will spend $ 25 billion on this ambitious project.
Reliance Industries chief Mukesh Ambani has said that the 5G mobile network will first start in Delhi and Mumbai. After this, it will be spread across the country till December 2023.
Reliance is also working with Google to develop cheaper 5G smartphones. However, he did not say anything about when this budget phone will come.
On Monday, he had said at Reliance’s AGM that once its 5G network is fully operational, it will become the world’s largest network.
Jio is the largest mobile service company in the country. With this announcement of Reliance, another battle for supremacy in the 5G mobile service business in India can be started.
Earlier this month, the Modi government sold spectrum worth $19 billion. These included spectrum for 5G service. In this, Jio had bought the maximum spectrum. This was followed by Vodafone, Bharti Airtel and the new player in this space, Adani Data Network.
5G i.e. fifth generation high-speed mobile internet technology supports driverless car technology and artificial intelligence.
5G internet service is an important part of the plan to make India a trillion dollar digital economy.
In May, Prime Minister Narendra Modi had said, “5G mobile service will not only increase internet speed but it will also accelerate growth and employment.” ,
The AGM also detailed Mukesh Ambani’s plans to land heirs to his business empire.
Ambani confirmed that his daughter Isha will head Reliance Retail Ventures. While the younger son Anant will look after the work of the new energy business.
In June this year, his elder son Anant was made the chairman of Jio.
According to the Bloomberg Billionaires Index, Mukesh Ambani has a net worth of $ 91.9 billion and is the 11th richest person in the world. He is the second richest person in Asia.
His father, the late Dhirubhai Ambani, had laid the foundation for textile manufacturing, which later transformed into Reliance Industries. It is the largest business empire in India by market value. Reliance Industries is active in the business of Petrochemical, Oil & Gas, Telecom and Retail.
Jio Network with Zuckerberg
Mukesh Ambani intends to spend $ 25 billion to launch 5G service. Through this, they want to beat their rivals not only in the telecom sector but also in the retail sector.
The second part of his strategy is the alliance between Reliance and the American technology giant (formerly known as Facebook).
BBC journalist Arunoday Mukherjee has told in his analysis that 500 million people out of India’s population of one billion and 400 million use WhatsApp, the messenger service platform of Meta.
Ambani wants to use this huge user base for his retail business.