New Delhi: In a major event, Reliance Industries (RIL) Chairman Mukesh Ambani on Wednesday announced that Google is going to invest Rs 33,737 crore in Jio Platforms for an equity stake of 7.73 percent.
Google’s investment will be in the equity valuation of Rs 4.36 lakh crore.
Other than the partnership with Google, several important announcements were made with respect to the various sections of the Reliance conglomerate.
Jio 5G: Jio is venturing into the 5G technology for which it has developed the required tech infrastructure from scratch, the company stated. Chairman Mukhesh Ambani shared Jio’s promises of delivering world-class 5G service in India with a 100% home developed setup. He revealed that the trials for the same are going to being soon and the plan will be ready for on-ground initiation by 2021.
Google Partnership, 2G Mukt India: By teaming up with Google, Reliance’s Jio aims to build an operating system to launch entry-level 4G and 5G smartphones while making India “2G Mukt”. The partnership focuses on making access to 4G and 5G very affordable and reachable to millions of consumers across all socio-economic categories. The key point is to make it all “affordable” with indigenous technology.
JioTV Plus, App Store: AGM 2020 also saw the announcement of JioTV which is a content aggregator that brings together TV channels, shows and movies and other digital content from apps and services. Akash Ambani revealed that Jio TV Plus will bring content from more than 12 leading global OTT players like Netflix, Amazon Prime, Disney Hotstar, Zee5, Voot, SonyLiv, JioCinema, JioSaavn, YouTube and many more.
With Jio App Store along with a Set-top box, a user will be able to access web apps ranging from various genres like health, education, entertainment, religion, gaming, yoga, and more. Ambani added, “With the Jio Developers program, any developer can develop their app, launch and monetize it. Developers who wish to partner with Jio can visit the website for further details.”
JioMart Association With WhatsApp: JioMart aims to be the one-stop solution for the ‘kiranas’ and the customers. Having launched on a beta stage in about 200 cities, the company clearly has big plans for the retail network. For this, it is going to partner with WhatsApp to create opportunities for small merchants and provide a seamless platform for customers to transact in.
Jio Glass: This a new AI solution launched by Jio that creates an interactive platform for people to interact in 3D virtual rooms. Teachers even conduct holographic classes. It looks to revolutionise the way education is imparted in the country, especially with technology becoming an essential part of it. The new mixed reality headset will enable holographic video calling for the post-Covid world.