Jio subscriber base at over 340 million, ready to kick-start 4 new growth engines: Ambani

Mukesh Ambani on Monday said that Jio which has amassed over 340 million subscribers in less than three years, is w ready to fire four new growth engines including Internet of Things (IoT) for entire country, home and enterprise broadband services as well as broadband for SMEs.

"Revenue from each of se engines will kick in this fiscal itself," Reliance Industries' Chairman and Managing Director Mukesh Ambani said addressing 42nd Annual General Meeting (AGM) here.

investment cycle of Reliance Jio is complete, and about Rs 3.5 lakh crore has been invested in high-speed 4G network, he said.

Terming Jio's journey since 2016 as "incredible", Ambani said that India was "data dark" before entry of Jio into telecom market.

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"Jio has made India data-shining bright. Today Jio customer base stands at over 340 million... potential for growth is immense and half a billion customers, is w I believe well within our reach," he said.

"India because of you, Jio has t only become largest operator in India but is second largest operator in world on a single platform," he said.

investment cycle of Jio is w complete, and only marginal investments would be needed in areas to grow capacity, he said adding that this gives company strong operational lever and superior return on investments for years to come.

"We are ready to kick start four engines of connectivity revenue for Jio...Internet of Things for entire country, home and enterprise broadband, broadband for small and medium enterprises (SME),' he added. PTI AA