Reliance Industries held its 41st annual general meeting today in Mumbai. On the occasion Chairman and CEO Mukesh Ambani has made many announcements including the one where he informed that Reliance Industries pays the highest GST in the country. Ambani also launched the advanced version of Jio's flagship device, JioPhone. Besides, he also launched Jio Gigafibre.
Mukesh Ambani also listed out Reliance Industries' retail business roadmap and about the company's plans to create 100 million new customers under the new broadband services.
During his long address, Ambani asked the shareholders to be prepared for bright future. He said that his firm is planning to integrate online and offline marketplaces using its flagship technology platform Jio. Mukesh Ambani highlighted that Jio's subscribers grew from 124 million at the end of last year to 210 million at the end of FY18.
Below we have listed 10 major announcements Mukesh Ambani made in his speech:
1. Reliance Industries Chairman, Mukesh Ambani today informed that Reliance is India's largest payer of Goods and Services Tax (GST), Excise and Customs Duty, and Income Tax in the private sector.
2. Mukesh Ambani on Thursday announced the launch of Jio Phone 2. The new Jio Phone 2 will hit the markets by August 16 this year and will be available at a price of Rs. 2999.
"We are now taking the JioPhone to the next level, with added capabilities and functionalities. Reliance is bringing WhatsApp, Facebook and YouTube to the Jio Phone. 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," daughter of Mukesh, Isha Ambani said.
3. Mukesh Ambani has also announced the Jio Monsoon offer. He informed that feature phone users can exchange their device with a new JioPhone for just Rs 501 under the special Reliance Jio Monsoon offer. The offer is valid till July 21.
4. Reliance Jio on Thursday at its 41st annual general meeting has announced the launch of the fixed-line broadband service Jio GigaFiber. GigaFiber was previouly known as Jio Fiber. During his address, Chairman Mukesh Ambani informed that Jio's broadband services would be made available in 1,100 cities in India.
5. Ambani also said that JioPhone users have crossed the huge mark of 25 million. “We have more than 25 million JioPhone users in India. We are now taking the JioPhone to the next level, with added capabilities and functionalities,” he said.
6. Listing out RIL's energy business outlook, he said that company has plans to uplift its production to help cater to India's burgeoning energy needs.
7. He also informed that Reliance Jio and Retail ventures were the top earners for the company in the previous fiscal year.
8. Mukesh Ambani also talked about RIL's petrochemical business, he said that the company's gasification project will end India's dependence on natural gas.
9. Mukesh Ambani also laid emphasis on importance of growing digital presence. He said the biggest growth in creating hybrid, integrated channels is extremely important.
10. Mukesh Ambani also shared plans related to retail business of the company. He talked about Reliance Retail and how the new technology will help in integrating physical and digital marketplaces. He said, "Jio has enabled Reliance to strategically reinvent itself as a Technology Platform Company. Digital platforms have become the new-age factories and service providers."
