PremiumHighlights from Mukesh Ambani-led Reliance Industries’ (RIL’s) annual general meeting (AGM) for the financial year 2017-18
OTHERS : The 41st annual general meeting of Mukesh Ambani-led Reliance Industries Ltd (RIL) was held today, where the chairman spelt out the direction the energy-to-telecom conglomerate will take in 2018-19. Ambani announced the rollout of Reliance JioGigaFiber, Reliance Jio Infocomm Ltd’s fiber-to-the-home, or wired broadband, service. A new Jio Phone, the Jio Phone 2, and an exchange offer were also announced. The mainstay energy business and the consumer business, led by Reliance Retail, were also in focus. RIL share price went down by Rs 9.05 to Rs 981 after the AGM ended in the afternoon. Here are the highlights from the RIL AGM:
“As we kick off our Golden Decade with a flourish, we remind ourselves of Reliance’s unwavering commitment towards India’s rise. May the God Almighty bless us in our endeavour,” says Mukesh Ambani as he concludes the RIL AGM.
Mukesh Ambani said Reliance Foundation’s rural transformation initiatives will now reach out to over 13,500 villages across 15 states of India. The CSR initaitives are focused on establishing strong market linkages for farmers and leveraging technology for better reach and impact.“All these initiatives will enhance our capabilities and competencies, making us future-ready, as we transition from a cyclical business to annuity business,” he added at RIL AGM.
Reliance Industries will maximize oil to chemicals conversion and upgrade all fuels to high value petrochemicals, says Mueksh Ambani at the RIL AGM. “The hydrocarbon business is thus posed for robust value creation and exciting times ahead.”
At the RIL AGM, Mukesh Ambani called agriculture and education as the two “unprecedented opportunities” in India, sectors that Reliance Industries will tap going forward.“India has unprecedented opportunity to create wealth in agriculture. Our purpose is to benefit farmers and consumers. Jio can usher in a smart, new green revolution in India, connect 58,000 colleges and universities and 1.9 million schools in less than 2 years,” says Ambani. “Reliance Jio will attempt to help overcome the deficit of physical infrastructure in healthcare.”
Reliance Industries is creating a hybrid, new commerce platform of that will see synergies between Reliance Retail and Reliance Jio.At RIL AGM, Mukesh Ambani says there are 35 crore customer footfalls at Reliance Retail, 21.5 crore Reliance Jio customers, 5 crore JioGigaFiber home customers, And three crore small merchants and shopkeepers in this ecosystem.
Reliance Jio has enabled Reliance Industries to strategically reinvent itself as a technology platform company, says Mukesh Ambani at RIL AGM. “Digital platforms have become the new-age factories and service providers,” he says.
“With the added functionalities and strong retail presence across India, the goal that I have now set for our Reliance Jio team is to enable 100 million users on Reliance Jio Phone platform in the shortest possible time and create another world record,” says Mukesh Ambani at RIL AGM.
Mukesh Ambani has unveiled the Reliance Jio Phone 2 at an introductory price of Rs 2,999. The Jio Phone 2 will be avialable from 15 August.
Under the Reliance Jio Phone Monsoon Hungama offer, you will be able to exchange your old phone for a Reliance Jio Phone. Under this offer, by exchanging your old feature phone, you can get a brand new Jio Phone for an effective entry price of just Rs 501, says Mukesh Ambani at RIL AGM.
RIL chairman Mukesh Ambani says YouTube, Facebook and WhatsApp are coming to the “effectively free” Reliance Jio Phone from 15 August.
“Your home will have wall-to-wall Wi-Fi coverage, every appliance, plug point, switch will become smart. You can have cameras giving you 24x7 security monitoring, alerts,” says Reliance Jio director Akash Ambani at the RIL AGM introducing JioGigaFiber.
“Gone are the days of Mbps, now it will be about Gbps,” says Isha Ambani at RIL AGM introducing the JioGigaFiber service.
Reliance JioGigaFiber will give large companies the ability to compete in the global marketplace, using digital tools and techniques that are powering the Fourth Industrial Revolution, says Mukesh Ambani at RIL AGM
Mukesh Ambani says Reliance JioGigaFiber will empower the small merchant. “When you combine fixed-line connectivity with the agility and customer obsession of a small owner-driven business you empower them to compete on level terms with larger businesses,” says Mukesh Ambani at RIL AGM.
The Reliance JioGigaFiber will bring to home ultra HD entertainment on large screen TVs, multi-party video conferencing, voice-activated virtual assistants, virtual reality gaming, digital shopping and immersive experiences, says Mukesh Ambani at RIL AGM.
Speaking at the 41st RIL AGM, Mukesh Ambani unveils Reliance Jio’s JioGigaFiber, the fiber-to-the-home wired broadband service.We will now extend fiber connectivity to homes, merchants, small and medium enterprises and large enterprises simultaneously across 1,100 cities to offer the most advanced fiber-based broadband connectivity solutions, says Mukesh Ambani at RIL AGM.
Mukesh Ambani says there are 25 million Reliance Jio phone users in India. “We are now taking the Jio Phone to the next level, with added capabilities and functionalities,” he said at the RIL AGM
Reliance Jio’s customer base has doubled to 215 million in the one year since the last RIL AGM, says Mukesh Ambani. “215 million customers within 22 months of start is a record that no technology company has been able to achieve anywhere in the world.” he claims.
Mukesh Ambani has started the annual general meeting (AGM) of Reliance Industries Ltd (RIL) by putting out the achievements of the company’s consumer business. “As our golden decade rolls on, our consumer businesses will contribute nearly as much to the overall earnings of your company as our energy and petrochemical businesses,” says Ambani at the RIL AGM.
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