In digital connectivity, Reliance Jio has done exceeding well with a customer base of 340 million with more than 10 million additions every month and is soon planning to reach 500 million subscribers. The company is now banking on the next phase of growth i.e. building digital platforms and solutions for entertainment, e-commerce, financial services, education, healthcare, agriculture, e-governance and others where the company is banking heavily on partners which will take the company to the next level.
Speaking at 42nd AGM, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said, “The coming year will mark the beginning of the most ambitious value creation strategy in the history of Reliance and in the history of India. At the heart of our new value creation strategy is our innovative philosophy of transforming relationships into partnerships. Partnerships with leading global and Indian companies; partnerships with millions of local businesses, SMEs and micro enterprises across India; and partnerships with new tech-enabled businesses, platforms and social enterprises.”
“All these partnerships will form a new business coalition capable of creating exponential value for our five stakeholders: Indian economy, Indian people, our customers, employees and share owners,” added Ambani.
The company is planning to offer faster fixed line broadband to homes and business establishments through Internet of Things (IoT), home broadband, enterprise broadband and broadband for SMBs (small and medium businesses) and the revenue from all these segments will get accrued in FY2019-20.
For IoT, the company is looking at connecting one billion devices on Jio’s IoT platform and major chunk of IoT devices will come from electricity meters where the company will partner in big way with electricity meter manufacturers or utility companies and this is planned for commercial availability in 2020.
For home broadband, the company is partnering with all LCOs (Local Cable Operators) across 1,600 cities and towns pan-India to offer the largest bouquet of high-definition channels to customers with better features, reliability and customer experience.
For SMBs (small and medium businesses), Reliance Jio is tieing up with Microsoft on a unique, comprehensive, long-term strategic relationship aimed at transforming Indian SMBs through connectivity and cloud solutions. This 10-year commitment combines the world-class capabilities of both companies to offer a detailed set of solutions comprising connectivity, computing, storage solutions and other technology services and applications essential for Indian businesses and will span the broad Reliance Industries ecosystem including its existing and new businesses.
As part of this new agreement: Jio will provide its internal workforce with cloud-based productivity and collaboration tools available with Microsoft 365 and will migrate its non-network applications to the Microsoft Azure cloud platform; connectivity infrastructure; and Jio will set up datacenters in locations across India, consisting of next-generation compute, storage and networking capabilities, and Microsoft will deploy its Azure platform in these datacenters to support Jio’s offerings.
“We have received strong interest from strategic and financial investors in our consumer businesses, Jio and Reliance Retail. We will induct leading global partners in these businesses in the next few quarters and move towards listing of both these companies within the next five years,” added Mukesh Ambani.
Reliance Jio is aggressively looking at strategic and financial investors as partners in the next few quarters which will help Reliance Jio to leverage new revenue streams in future.