Mukesh Ambani, Chairman of Reliance Industries, is speaking to shareholders at the 42nd annual general meeting of the company today.
The following are the key points of his speech.
This is a live updated feed of the most important parts of his speech as regards the commercial launch of Reliance Jio. Please refresh this page every two minutes or so to get the latest.
EXCERPTS OF SPEECH BELOW
We are launching the biggest investment in Reliance Industries’ history.
I dedicate the commencement of Jio to the PM’s vision of a digital India.
Our mission is to take India from ‘data shortage’ to ‘data abundance’.
The first pillar of Jio is Network.
Legacy telcos have built their networks for voice, not data. As the Internet caught up, they’ve had to retrofit their network data. Imagine using a translator to speak a language you do not understand. Translation is cumbersome, unnatural. Jio, on the other hand, has created an all-IP network. There is only one language spoken on Jio Network, the language of IP.
18,000 cities and 2 lakh villages are already covered.
By March, we will cover 90% of India’s population.
We are not “mostly 2g, sometimes 3g and once-in-a-while 4G.” We are the largest 4G network in the world today. We are also the largest VoLTE (4G voice) network in the world today.
Our network can be upgraded easily to support 5G and 6G (when available).
We will offer the lowest data rates anywhere in the world.
Second pillar is devices.
More than 70% of all smartphones are 4G-enabled.
We are introducing a line of super affordable 4G smartphones starting at 2,999.
4G personal router will cost only Rs 1,999.
JioTV now offers more than 300 channels.
All Jio apps to be free till Dec 31, 2017.
We are introducing a quick, e-KYC process in Mumbai and Delhi today, and over the next 3-4 weeks, the entire country.
We will have the capacity to acquire 1 mln customers a day with this new e-KYC.
With this, any customer can walk in to a Jio store and walk out with a working Jio phone in only 15 minutes.
TARIFFS
We are ready to change the industry.
Customers should pay only for one — voice or data, not both.
Voice will be free to all Jio customers.
Data price will be Rs 50 per MB under packs, the lowest anywhere in the world.
All services will be free till Dec 31 2016.
Data tariffs have also been unveiled. Please see the following link for details of the data tariffs and packs.
PLEASE SEE THIS UDPATE
https://www.youtube.com/watch?feature=player_embedded&v=SqaI3JnGzX0