Mukesh Ambani, billionaire, chairman and managing director of Reliance Industries. (Photographer: Simon Dawson/Bloomberg)

RIL’s 41st AGM: RIL Announces JioGigaFiber, JioPhone 2; Stock Falls

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Watch RIL's 41st AGM Live

Key Highlights Of AGM, RIL Stock Falls

The 41st annual general meeting of Reliance Industries saw the launch of broadband services business JioGigaFiber and a higher-end feature phone - JioPhone 2. The stock which was up at least 1.25 percent before the AGM, is now trading in the red.

RIL’s 41st AGM: RIL Announces JioGigaFiber, JioPhone 2; Stock Falls

Here are the key highlights from the RIL AGM:

  • Reliance Jio has 215 million customers within just 22-months
  • It has more than 25 million JioPhone users
  • JioPhone 2 will have horizontal screen and full keyboard
  • YouTube, WhatsApp and Facebook services will be available to JioPhone users from August 15
  • Customers can exchange existing feature phones for JioPhones for Rs 501 starting July 21
  • Existing JioPhone scheme will continue
  • Effective entry cost of JioPhone reduced to Rs 501 from Rs 1,500
  • JioPhone 2 will be available at an introductory price of Rs 2,999
  • Targets 100 million JioPhone users

Ambani Sets 2022 Targets For Gas Production From KG-D6

  • RIL will further maximise oil to chemical upgradation
  • Will upgrade all of our fuels to high-value petrochemicals
  • Hydrocarbon business is poised for robust value creation
  • Continue to pursue to development in KG Basin with joint venture partner British Petroleum
  • RIL targets 30-35 million cubic meters gas production from KG-D6 by 2022

Mukesh Ambani Says

  • RIL is second largest paraxylene producer in the world
  • RIL adding composites, carbon fiber to portfolio
  • Butyl rubber unit will be commissioned soon
  • RIL is now largest recycler of PET bottles in India

Unprecedented Opportunities

Mukesh Ambani said that RIL’s platform business strategy would unlock three "large opportunities" - agriculture, education, and healthcare.

  • India has an unprecedented opportunity to create wealth and new knowledge-rich livelihood opportunities in rural areas
I am sure that if we combine digital technology tools with the innate knowledge and wisdom of Indian farmers, Jio can usher in a smart, new Green Revolution in India.  
Mukesh Ambani, CMD, RIL
  • Jio will connect 58,000 colleges and universities and 1.9 million schools in less than 2 years
  • These educational institutions collectively provide education to nearly 200 million children
  • Jio will attempt to help overcome the deficit of physical infrastructure in healthcare
India can considerably overcome the deficit of physical infrastructure of hospitals and doctors by universalising telemedicine, tele-radiology, eDiagnostics, genomics and other cost-effective cloud-based solutions.  
Mukesh Ambani, CMD, RIL

Reliance Retail + Reliance Jio = Hybrid E-Commerce Platform

Reliance Industries envisions a hybrid online-offline e-commerce platform which will integrate the “power of Reliance Retail & Reliance Jio”, he said. Calling it the Bharat-India Jodo program, he said the hybrid platform will give customers the best value for money.

As Reliance transitions to become a technology platform company, we see our biggest growth opportunity in creating a hybrid, online-to-offline new e-commerce platform. 
Mukesh Ambani, CMD, RIL