Reliance Jio to launch commercial services by December: Mukesh Ambani

Reliance Jio, the wireless telephony and data services subsidiary of Reliance Industries will launch its commercial services by December this year, Chairman of RIL, Mukesh Ambani said here today at its 41st annual general meeting of shareholders. Jio will begin beta services with select consumers in the next few months before the commercial launch in december.

Ambani said FY 2016-17 will be the first full year of commercial operations for Reliance Jio and contribute to Reliance’s top line. Giving details of Jio’s services, in which RIL has already invested Rs 60,000 crore, Ambani said RIL has set up a new generation of broadband services which would cover 80% of India’s population by year-end.

“Reliance Jio is currently in pre-launch testing and stabilising phase.. the key components of broadband network is now operational and we will play an important role in the digital revolution planned by the Indian government,” Ambani said.

Ambani said RIL is currently investing a massive Rs 200,000 crore new businesses and these investments will improve return on capital for the company. “At present 100,000 people are working at Jam Nagar for petrochem and refineries expansion and another 150,000 working across India in building network of Jio. The full benefits of these investments will be realized 2016-17 onwards,” said Ambani.

RIL shares were trading flat at Rs 882 a share by noon.

Jio’s 4G LTE devices will be available at starting prices of under Rs 4,000 by 2015-end and Jio chat has over 1 million active users, Ambani said.

Reliance Industries Limited (RIL)