Mukesh Ambani, the chairman of Reliance Industries, spoke at the company’s annual general meeting. The tycoon addressed the investors in his third straight digital address, during which he made numerous significant announcements. Ambani laid forth the succession plan in addition to other announcements including the timeline for the implementation of 5G in India.
He identified Isha Ambani, his daughter, as the head of his conglomerate’s retail division. Anant, the youngest son, was also named as the new energy business’s head.
The five significant announcements Mukesh Ambani made during the RIL AGM in 2022 are listed below:
- The introduction of 5G services in India was the main statement made at the Reliance AGM 2022. The corporate giant, according to Ambani, would roll out standalone 5G in a number of important cities, including the metropolises of Delhi, Mumbai, Chennai, and Kolkata. For the 5G network, Reliance Jio has set aside $2 lakh crore in investment. “We have committed a total of 2 lakh crore to the construction of our pan-Indian real 5G network. Jio has created the quickest and most comprehensive 5G rollout strategy ever for a nation of our size throughout the upcoming two months. By Diwali, we’ll launch Jio 5G in a number of important cities, including the major metropolises of Delhi, Mumbai, Chennai, and Kolkata “he commented.
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- Dependence Jio chairman Akash Ambani announced the rollout of JioAirfiber, a new wifi hotspot that will give users access to internet speeds comparable to fibre. “Jio 5G offers wire-free, ultra-high fiber-like speed over the air. It is known as JioAirFiber. It will be very simple to swiftly connect your house or workplace to gigabit-speed Internet using JioAirFiber”, according to Akash.
- The first end-to-end purchasing experience on messaging network WhatsApp was introduced by social media giants Meta and Reliance Jio, allowing users to make purchases from JioMart directly within chat. According to Reuters, Reliance said it is collaborating with Alphabet Inc.’s Google to produce a low-cost 5G phone. Additionally, it disclosed its collaboration with Qualcomm to provide 5G solutions for India.
- Reliance Retail Ventures Ltd Director Isha Ambani announced on Monday that the company will start its FMCG business this year. She stated during her address to Reliance Industries’ annual general meeting that the goal of this company is to develop and provide products that answer every Indian’s everyday needs while maintaining competitive prices.
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- According to Mukesh Ambani, Reliance Industries Ltd. will invest 75,000 crore over the next five years to increase its petrochemical capacity. He claimed during the company’s annual general meeting that investments will go toward establishing a PTA facility, increasing polyester capacity, tripling vinyl chain capacity, and building a chemical unit in the United Arab Emirates.
