Reliance Industries has invested over Rs150,000 crore in its 4G internet and telecom venture, Jio, Chairman Mukesh Ambani said on Wednesday, promising to deliver mobile broadband speed that would be 40 to 80 times faster than the current average speeds.
The soon-to-be-launched Jio would come with a whole host of applications and services and huge library of audio and visual content, he said addressing FICCI Frames here.
“Digitisation is the defining trend of this century. In fact, that is the very reason that we at Reliance conceived Jio. It is one of the largest transformational green-field digital initiatives anywhere in the world with an investment of over Rs150,000 crore,” he said.
Jio beta launched its services in December 2015 on Reliance founders day with plans for commercial launch this year.
“I have no doubt that with the launch of Jio, India’s rank will go up from 150 to among the top 10 of mobile Internet rankings in the world,” he said.
While the coverage of mobile broadband in India is only about 15-20 per cent, US has around 75 per cent coverage. “Jio will start services with 70 per cent coverage of India. From Day One,” he said.
Jio would help the industry coverage of the country reach over 90 per cent.
“From Day One, Jio mobile broadband will offer speeds that are about 40 to 80 times faster than the current average speeds,” he said adding Jio network is engineered to provide a capacity of 10GB per month for every year.
Stating that all of this would be of no use if it was not accessible and affordable to consumers in all parts of the country, Ambani said,