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Since last few years, Reliance’s AGM is more awaited than the annual budget of the Government of India and we have to talk about it
Reliance Industries Ltd chairman Mukesh Ambani on Wednesday addressed first-ever virtual annual general meeting (AGM). At the 43rd meeting of its shareholders, RIL chairman Mukesh Ambani made major announcements from Google buying a 7.7 percent stake over Rs 33,000 crore to the progress on indigenous 5G network and expansion of JioMart.
Caution: This post is going to be longer than usual, well we are writing about Mr. Ambani we cannot summaries in a few sentences
Google acquiring 7.7% stake in Jio Platform
Is there a full stop to this funding spree? Every week there is a new investor on the block willing to invest in Jio. And now it’s tech giant Google who is investing INR 33,737 crore for a 7.7% stake in Jio Platform. This makes the internet giant the 14th major investor and takes the total capital it has raised in the last few months well over Rs. 1,52,055 Crore.
Operating System for Affordable Smartphone
Google did come up with a plan. JIO and Google will be building an Android-based OS that could power affordable smartphones and enable access to 4G and 5G connectivity to every Indian. Do you remember yesterday’s headline of Google investing $10 billion in India and this is the biggest chunk of the $10 billion investment
Atmanirbhar Bharat – 5G Solution
“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“
What is 5G
5G cannot be defined as a single form of technology. It’s often referred to as “the network of networks”. To be clear, 5G isn’t an extension of 3G and 4G networks but rather a network that combines Wi-Fi, 4G, wireless access technologies, and millimeter-wave and list go on and on.
Let’s get back on the AGM
JioTV+ to aggregate content from leading OTT platforms
Imagine a master key for 12 global OTT apps including Netflix, Prime Video, Disney+ Hotstar, Voot, Sony Liv, Zee5, JioCinema, JioSaavn, YouTube. Isn’t it what you were praying to god for so long?
Jio’s next revolutionary product – the Jio Glass
The device, as explained, will enable holographic video calling.
It weighs just 75 grams and will ultimately make people, including teachers and students, come together in 3D virtual rooms and conduct holographic sessions.
A hologram is a three-dimensional image. Created using light, sometimes in the form of lasers. Well to cut it short do you remember Avenger End Game meeting session to kill Thanos or Tony Stark Fantasy Screen? That’s Hologram
What else Ambani shared during the AGM?
Reliance Retail has become India’s largest and most profitable retail business, with revenues of Rs. 1,62,936 crore and EBITDA of Rs. 9,654 crore
Jio has partnered with 22 Indian Startups
And Finally, there will be mega COVID-19 testing. To fight the ongoing pandemic, Reliance Foundation will be conducting mega-scale COVID-19 testing across India in partnership with several state governments.
Reliance is trying to become Facebook, Amazon, Google & Microsoft.. all at the same time!!
We are leaving you with one question, Is Reliance Oil Giant or Tech Giant?
Published By: akash On 03/31/21 8:04 AM