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Reliance AGM Meet 2020 | Google-Facebook-Jio Partnership | 5g launch in India - Edumyra
Mukesh Ambani Led Reliance Jio concluded their 43rd Annual General Meeting via video conferencing. Many investors and market specialists eyed on Mr. Ambani’s future plans. Major highlights were on 5g launch in India, Here are all the highlights of the event.
From the past month, Jio has attracted several big investors, Reliance Jio platforms have sold around 32.94% stake to 13 different investors to get rid of the debt of the company by March 2021.
List of investments in JIO platforms:
|S. no.||Investor||Stake in %||Investment in $Million|
|7||Abu Dhabi Investment Authority||1.16||750|
|10||Public Investment Fund of Saudi Arabia||2.3||1500|
Due to the high number of investments in the Jio Platforms, Jio experienced a great spike in the market capitalization of the company. Mr. Ambani stated that “Jio has become India’s first company to cross $150 billion market cap in 2020” in the AGM 2020. The market specialist believes the huge investment in jio was an effect of business in the telecom sector and future plans of Ambani on Jio Platforms including 5g launch in India.
Google and Jio are coming together on a joint venture in which Google will invest Rs 33,737 crores for a 7.7 percent stake in Jio Platforms in a period of 5 years. Google and Jio will partner to develop an Android-based smartphone Operating System with a motive of making Indi a 2g free. Mr. Ambani stated that we are believing everyone in India can take benefits of Jio platforms and other Android-based programs.
Facebook and Jio Deal
Facebook invested a total of $5.7 billion for a 9.9% stake in Jio Platforms, Jio has greater plans with facebook such as making a super app and a marketplace app which will cover all your “home delivery” needs from groceries, Fruits, vegetables to medicine, gadgets, etc through the use of Whatsapp. In a reveal, a person can order any =thing from the marketplace just with the use of WhatsApp.
Jio has launched many applications, software, gadgets, and services over a period of 3 years, but this is only a beginning. Jio is eyeing on numerous sectors such as the OTT platform, online education platform, the marketplace, simplified payment gateway, Business tools, etc.
Some of the major reveal in AGM 2020 on Jio Platforms were-
- Jio Meet– JioMeet app the first cloud-based video conferencing app in India launched
- Jio Tv+ – Jio is planning an “all in one” application where you will find all the content from 12 leading OTT platforms with a simple cheap recharge. Users can watch content from Netflix, Prime Video, Disney+ Hotstar, Voot, Sony LIV, Zee5, Lionsgate Play, JioCinema, Shemaroo, JioSaavn, YouTube, and Eros Now.
- AR Glass- Though an AR glass is not necessarily “Jio Platform” bit we find it very intriguing. AR glasses can augment reality when you wear those glasses, Jio is planning to use them for meetings, real estate, and tourism industry.
- Embibe- In April 2018, Ambani invested $150 million in Edtech startu Embibe which is on Artificial Intelligence. This year in AGM 2020, Ambani declared that they will be entering in ed-tech space with Embibe.
Key Highlights of Jio AGM 2020-
- Highest GST and VAT payer in the country with Rs 21,660 cr of payments.
- In the current financial year, RIL raised Rs 212,809 crore via a rights issue, investment in Jio, and investment by BP.
- The target for raising capital is now complete and Reliance Industries has now become a debt-free company.
- Jio has developed a ‘Made in India’ 5g launch in India, from scratch. Trials to begin once the 5G spectrum is allocated.
- Mukesh Ambani dedicated the 5G Solution to PM Modi under Atmanirbhar Bharat
- Jio Platforms will be positioned for 5G solutions to other telecom operators by next year.
- Design an entry-level 4G, or even 5g launch in India and 5G smartphone, to support India’s cellular market
- Google and Jio will partner to develop Android-based smartphone Operating System
- A new product called Jio Glass launched for conducting virtual reality meetings
- Reliance Jio is determined to make India “2G-muxt”, says Mukesh Ambani
- Mukesh Ambani dedicates the 5G Solution to PM Modi under Atmairbhar Bharat
- Investment in RIL will be our biggest investment under the recently announced $10 billion digitization fund, says Sundar Pichai
- RIL making rapid progress in Azure cloud partnership with Microsoft
- Revenue from the retail business grew 8 times in the last five years
- Jio ready to partner startups to help them reach their full potential
- Will approach NCLT with our proposal to spin off our O2C biz into a separate subsidiary
- Target to become net carbon-free company by 2035
- Saudi Aramco deal has not progressed as expected due to disruption in energy markets.
5g launch in India–
In the AGM 2020, Mr. Ambani stated that “we can begin 5g trials in India as soon as the start of next year”, just waiting for the government to start allocating a 5g spectrum to companies. Mukesh Ambani further stated that “Jio has created a complete 5G solution from scratch that will enable us to launch a world-class 5G service in India, using 100 percent homegrown technologies and solutions”. People, we can see 5g launch in India pretty soon and not only that we will be the first country to do launch 5g fully if we are able to do so.
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