Reliance Industries chairman Mukesh Ambani announced that his digital arm Jio is developing a homegrown 5G telecom solution.
Mukesh Ambani had an announcement to the shareholders at the 43rd Annual General Meeting(AGM) that Jio digital services are taking a step ahead in technological advancement for the country. He announced Jio developing a complete 5G solution from scratch; trials to be launched as soon as 5G spectrum is available.
Mukesh Ambani said, “Jios global-scale 4G and fiber network is powered by several core software technologies and components. It is this capability and know-how that positions Jio on the cutting edge of another exciting frontier 5G”.
“Jio has designed and developed a complete 5G solution from scratch. It will be ready for trials as soon as 5G spectrum is available and can be ready for field deployment next year”, he said.
Reliance Industries has recently become the first Indian company to cross 12 million in terms of market capitalization. Reliance becomes a net debt-free company, well before the scheduled date of March 31, 2021, by selling more than 25 percent stake in Jio Platforms and unveiling a rights issue of Rs 53,124 crore.
In the next three years, Jio will connect half a billion mobile customers, a billion smart sensors, and 50 million home and business establishments, Ambani said.
“Using these technologies, we can create compelling solutions across multiple industry verticals like media, financial services, new commerce, education, healthcare, agriculture, smart cities, smart manufacturing & smart mobility,” he said, adding Jio Platforms is conceived with the vision of developing original, captive intellectual property, using which we can demonstrate the transformative power of technology across multiple ecosystems first in India, and then rest of world. “We have fully kick started five accelerators of growth of digital connectivity: Mobile broadband, JioFiber, Jios enterprise broadband, broadband for SMEs, and Jios Narrowband Internet-of-Things (NBIoT),” he noted.