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Reliance AGM: Nothing about the empire Mukesh Ambani runs is small, here's all you need to know
The serial disruptor strikes again
India's richest man Mukhesh Ambani, who has earned a reputation for making announcements good enough to trigger tremors and cause a shake up within a industry, has come up with his next big idea after what is often called the Jio revolution. Here is all you need to know about the billionaire's future plans.
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Jio Giga Fiber launched
On Thursday, at the annual general meeting (AGM) of Reliance Industries, Ambani announced the launch of JioGigaFiber across Indian 1,100 cities simultaneously. Customers can start registering for JioGigaFiber from August 15.
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Making India 'Giga Ready'
Jio Giga Fiber will be based on Fiber to the home (FTTH) technology. It is expected to disrupt the segment of home broadband services now. Reliance is likely to offer an attractive combo of fast broadband connectivity at initial data speeds of 100 Mbps (with huge dollops of free data thrown in).
Mukesh Ambani's daughter Isha Ambani and son Akash Ambani launched a high-end model of JioPhone 'JioPhone 2'. Jio Phone 2 will be available at an introductory price of Rs 2,999 from August 15.
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Exciting offers on JioPhone
The company also introduced a new Jio Monsoon offer allowing customers to replace their older JioPhone for a new JioPhone2 for juts Rs 500. The industry major said it is eyeing to attract 100 million users on JioPhone.
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Jio's dream run
During the AGM, it was revealed that Jio's revenues crossed Rs 69,000 crore, marking a growth of 100% YoY. On top of this, it was said that the 7,500 Jio stores saw 350 million footfalls this year.
RIL also said that it is the highest income-tax payer in the Indian private sector, and paid Rs 9,844 crore for FY18. It also paid the highest excise and customs duty to exchequer in private sector, said Mukesh Ambani during the AGM.In pic: Mukesh Ambani, Chairman and Managing Director of Reliance Industries, poses with his wife Nita Ambani and son Anant Ambani before addressing the company's annual general meeting in Mumbai
