Mukesh Ambani-led Reliance Industries has announced that it is going to enter the 5G segment in India. This was announced by the RIL’s chairman and managing director Mukesh D Ambani at the 43rd Annual General Meeting (AGM) today.
“Today, I have great pride in announcing that Jio has designed and developed a complete 5G solution from scratch. This will enable us to launch a world-class 5G service in India, using 100% homegrown technologies and solutions,” said Ambani while addressing the shareholders, prospective investors, media and the general public.
Calling this a 'Made in India’ 5G solution, Ambani said this service will be ready as soon as the 5G spectrum is available in India and can be ready for field deployment next year. Further, he assured that the upgradation from 4G to 5G will be easy.
Dedicating the launch of 5G service in India to PM Narendra Modi’s Atmanirbhar Bharat’s vision, Ambani also said that once it will be set up in India, the company aims to offer it to other global telecom operators.
“Once Jio’s 5G solution is proven at India’s scale, Jio Platforms would be well-positioned to be an exporter to other telecom operators globally as a complete managed service,” he added.
Meanwhile, Ambani also announced that
Google will invest Rs 33.737 crores for a 7.7% stake in Jio Platforms
This is one of the many big investors RIL has got on board to invest in Jio Platforms. Facebook, Qualcomm, Intel and others have also invested in Jio in the last couple of months. In the last few months,
has raised over Rs 1.52 lakh crore from strategic partnerships with overseas investors.