Reliance conduct it's Annual General Meeting every year to discuss about their future plans. This year it was conducted on July 15th Wednesday where big announcements were made. Today we will take a look at Reliance's 43rd AGM. This meeting was conducted over JioMeet and was the first virtual AGM led by Chairman and Managing Director Mukesh Ambani.
1. GOOGLE + JIO
Jio have already received more than ₹1,52k crores. The major announcement was on Google and Jio partnership. Google had bought 7.73% stake for ₹33,737 crores. They also stated that Google and Jio will be working on developing affordable 5G smartphones with new custom operating system (OS) based on Android. Mukesh Ambani made a statement that "We believe that we can design such a 5G phone at fraction of its current cost. To power such a value engineered smartphone, we also need an equally value engineered smartphone OS. Such an OS must be designed from ground-up."2. JIOMART SERVICES STARTS
Another announcement was made on JioMart services. They have tied up with local retailers so that they can sell their products online. You can also order items on JioMart through Whatsapp. The JioMart service is now available to 200 cities in India.
3. JIO 5G NETWORK
The next big statement in this virtual meet was made on 5G network. They claimed that 5G network will be available by next year. Jio has created complete 5G solution from scratch that will enable them to launch 5G network in India using 100% home grown technologies which will be available for other telecom operators too. 5G trials will start when 5G spectrums will be available. Jio also reported that field deployment of this 5G network will start next year and they have initiated to make a '2G-mukt (free) India'.
4. JIO TV+
Jio also launched its new OTT platform Jio TV+ where you can watch all OTT content with one single subscription. Hotstar, Amazon Prime Video, Jio Saavn, Netflix and other apps will be available under this subscription.
5. JIO GLASS
Jio has launched new Jio Glass which is a new augmented reality glasses which will enable holographic video calling. They have claimed it to have a high resolution display and speakers which will offer immersive experience. Jio Glass weighs around 75 grams and supports 25 apps that allow to make use of augmented reality. Price and availability as of now is not disclosed.
6. OTHER ANNOUNCEMENTS
Other announcements were about Saudi Aramco deal related to petro-chemical business and making the net carbon neutral related to energy industry. The deal with Aramco is delayed due to Covid-19 pandemic. They also declared to neutralize carbon emissions from energy industry by 2035 by adopting a planet-friendly model which will convert CO2 emissions into high value product.
These were the key announcements made in this first ever virtual Annual General Meeting by India's most valued private company Reliance Industries. This have led up confidence to boost 'Atma Nirbhar Bharat' campaign initiated by our Honorable Prime Minister Narendra Modi. What do you think, how Jio's announcements will affect India's digital economy? Please do comment us.
Twitter reacts after the launch of Jio Glass:
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