All you need to know about Mukesh Ambani’ AGM speech

Reliance Industries chairman and managing director Mukesh Ambani on Monday, August 12, at the 42nd annual general meeting,  announced details related to the launch of Jio Fiber and other services. Speaking to shareholders at the meeting, Ambani said that the tariff plans would be priced between Rs 700 and Rs 10,000 per month.

Highlights of Mukesh Ambani’s speech at Reliance AGM

  • “We have designed our Jio set-top-box to accept the broadcast cable TV signals from our LCO partners. So that with every JIOFIBER home all our LCO partners will continue to have a steady stream of revenue for their broadcast TV business,” Ambani said.
  • Jio Fiber users will get a free subscription to several OTT platforms.
  • Ambani said that the group has a clear roadmap to become zero net-debt company in 18 months.
  • Reliance Industries (RIL) at the meet announced the partnership of its Reliance Jio Infocomm with Microsoft.
  • Jio Fiber plans will come with subscriptions to major premium OTT applications.
  • Jio Fiber users will get a landline phone connection for free.
  • Jio’s IoT service will be launched on 1st January, 2020.

Further, for small and medium businesses Jio GigaFiber enables a combination of fixed-line connectivity and cloud applications and in terms of large enterprises, Jio GigaFiber and Jio’s cloud solutions level the playing field for Indian enterprises enabling them to accelerate their digital transformation and compete globally using the very same technologies that are used by global majors.

Ambani in his speech also said that customers should pay for only one service, either voice or data. “With this, I am pleased to announce that voice calls from home (landline) to any Indian operator – mobile or fixed – will be absolutely free forever.” The company also announced Jio GigaFIber plans will come bundled with subscriptions to most leading premium OTT applications.

“Also, for the first time in India, we are introducing a disruptive concept for watching new movies. Premium JioFiber customers will be able to watch movies in their living rooms the same day these movies are released in theatres. We call this Jio first-day-first-show. We plan to launch this service in the middle of 2020,” he said.

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