Reliance AGM: Google to invest Rs 33,737 crore for 7.7% stake in Jio, says Mukesh Ambani

Mukesh Ambani, chairman and managing director of Reliance Industries Ltd., anunced that Google will 33,737 crores for 7.7 per cent stake in Jio Platforms. dressing shareholders at Reliance Industries' 43rd AGM, Ambani welcomed strategic partner Google in Jio platforms, anuncing that it signed a binding partnership on July 15.

“In last year’s AGM speech, I h shared our goal of being net debt-free. I have happy to report that we have met our goal ahe of target. We also completed India’s largest rights issue,” said RIL chairman while welcoming several partners including Facebook and Intel among ors.

Jio rey with 5G solution

Ambani also anunced that Jio has developed a complete 5G solution from scratch, that will enable it to launch a world-class 5G service in India using 100% homegrown techlogies and solutions. dressing shareholders at Reliance Industries' 43rd AGM, Ambani dedicated Jio 5G Prime Minister Narendra Modi’s Aatmnirbhar Bharat initiative.

"Jio is rey with a world-class 5G solution. Field deployment can happen next year. This 5G product will be available for trials as soon as spectrum is available. Jio Platforms will be positioned for 5G solution to or telecom operators,” said Ambani.

latest anuncement comes after US State Secretary Mike Pompeo listed Reliance Jio as among "Clean Telcos" of world for refusing to do business with Chinese companies like Huawei. RIL chairman said that Jio’s network has held firm despite a huge surge in data traffic due to COVID-19 pandemic.

A zero net debt company

Ambani said that Reliance Jio is w truly a zero net debt company, well ahe of his goal of March 2021. He said that world will change more in next eight deces than it did in last 20 centuries and India can le this change if its enterprises are empowered with necessary tech infrastructure and capabilities. 

“We (Jio) can create compelling solutions that span multiple industry verticals and ecosystems like media, financial services, new commerce, education, healthcare, agriculture, smart cities, smart manufacturing and smart mobility,” ded Mukesh Ambani.

Re: AirtelBlueJeans Is Latest Video Conferencing App To Compete With JioMeet, Zoom