RIL AGM: Here are the top 10 announcements by RIL chairman Mukesh Ambani

SUMMARY

Reliance Industries chairman Mukesh Ambani at its forty-second annual general meeting has made several key announcements, including a commercial rollout of Reliance Jio's broadband services GigaFiber, a deal with Saudi Aramco and a partnership with Microsoft. Here are top 10 takeaways from the RIL's AGM:

By CNBC-TV18Aug 12, 2019 1:51:57 PM IST (Published)

Reliance Industries and major oil producer Saudi Aramco have signed a nonbinding letter of intent under which Saudi Aramco will buy a 20 percent stake in RIL's oil-to-chemical business at an enterprise value of $75 billion.

Reliance Jio will commercially launch its broadband service Gigafibre on September 5, 2019. Jio GigaFiber will offer free voice calls for life from landline phones, high-speed broadband of minimum speed of 100 Mbps, free high definition TV and dish at a minimum subscription of Rs 700 per month.

Reliance Jio Infocomm has partnered with Microsoft to bring its Azure cloud platform into Jio's data centers across India. The two companies will offer comprehensive technology solutions from computing and storage to connectivity and productivity to small and medium businesses in the country.

Reliance Jio will kick start four new sources of growth: Internet of things (IoT), broadband services for home, small and medium businesses and large enterprises. Reliance Jio's IoT platform will be available beginning January 1, 2020

Reliance Joi will offer unlimited international voice calls to the US and Canda for Rs 500 per month.

Special connectivity services would be made accessible for startups from January 1, 2020 and that registration for the facility could be done at Jio portal. “We will also financially invest and support those startups which have the potential to address India's big needs in agriculture, healthcare, education and skill development," he said.

Mukesh Ambani announced plans to make Reliance group a zero-net debt company in the next 18 months as deals with Saudi Aramco and BP expected to generate inflows of Rs 1.15 lakh crore.

Reliance Jio will give a free HD, 4K television set with an annual subscription of Jio GigaFiber broadband services.

Mukesh Ambani announced plans to make Reliance group a zero-net debt company in the next 18 months as deals with Saudi Aramco and BP are expected to generate inflows of Rs 1.15 lakh crore.

Most OTT latforms have partnered with Reliance Jio.