Here Is What Went Down Reliance Industries’ 41st AGM

JIO 2018 AGM was highly successful just like every other Reliance AGM has been over the years. The company has come up with many attractive offers and new products. Mukesh Ambani, Chairman, and Managing Director of Reliance Industries also shared the success JIO has managed to attain by quoting “215 million customers within 22 months of its start is a record that no technology company has been able to achieve anywhere in the world.”

The JIO Giga Fiber was one of the prime highlights of the event, which offers speed of up to 1 Gbps.  “Gone are the days of Mbps, now it will be about Gbps”, said Isha Ambani on the launch of Jio Giga Fiber.  Reliance Industries (RIL) also unveiled an upgraded version of Jio Phone called ‘JIO phone 2′ which will be available at an introductory price of 2,999. The bookings for the new JIO Phone and the Jio Giga Fiber will begin from August 15, 2018.

Below are some of the prime Highlights from the Reliance Industries’ (RIL) 2018 AGM:

Jio Giga Fiber

• Jio Giga Fiber marks the launch of Reliance Industries into the broadband market of the country.
• RIL’s new launch is expected to disrupt the home broadband services of India.
• Jio Giga Fiber connectivity will be on offer across 1,100 cities in the country.
• JIO Giga Fiber is one of the most advanced fibre-based broadband connectivity solutions in the country.
• The advanced fibre broadband provides many advanced features such as ultra-high definition entertainment on TVs, voice-activated virtual assistance, virtual reality gaming, etc.
• The services offered will include smart home solutions such as real-time surveillance and smart security solutions for home and offices.

Jio Phone 2

• The new Jio phone will provide the users with an experience just as well as any other android or ios device.
• The new Jio Phone 2, unlike the first phone, will now allow it’s users to access Whatsapp, Facebook, and YouTube.
• Under the company’s Monsoon Hungama offer, users can now exchange their feature phones with JIO phone in just Rs. 501.

1. Reliance will expand itself to more than double its size by 2025.
2. RIL also plans to integrate both physical and digital markets under the ‘Bharat-India Jodo’ initiative.
3. RIL is also set to make developments and expansion into retail, healthcare, education and agriculture sector. The company also has its reforms planned for its energy business.
4. RIL also plans to capitalise on India’s bad-debt issues with purchases of distressed or insolvent companies.

Mukesh Ambani also revealed the economic position of the company. Among other details, it was also claimed by the MD that RIL has paid the highest GST and income tax among private players of the market. The company’s profits also saw a hike of 20.8% to Rs. 36, 075 crore last year. In the last 12 months, the company has made 12 deals worth Rs. 28,900 crore.

Reliance Industries reported a consolidated net profit of Rs. 9,459 crore for March quarter, which is up by 17 percent of the same March quarter from the previous year. The company’s JIO venture has over more than 25 million people who use the JIO phone, and this number has almost doubled within a year.