Reliance’s 45th AGM is now concluded. It has come up with some key announcements in the Jio-Google 5G Phone, Jio AirFiber, Cloud PC, new Energy Industries, new FMCG business, and more. What’s great is that it has become India’s 1st corporate to cross the $100 Billion mark in annual revenue in FY22!
Firstup, the Nita Mukesh Ambani Junior School will be launched as an expansion to Dhirubhai Ambani International School. The 1st batch of 120 students for PG programmes was rolled out last month.
New gigafactories will work for power electronics. These include photovoltaic panels, energy storage, green hydrogen, and fuel cell systems. This will make India a world leader in new energy manufacturing and an alternative to China.
Reliance will invest ₹75,000 crore and expand capacities in existing and new value chains in Polyester value chain, Vinyl value chain and New Materials.
On the e-commerce front, JioMart delivered 6 lakh+ orders per day in FY 2022-23 which is 2.5X growth from previous year. Also, JioMart got into 260 towns, 15k+ stores, 360k employees, and 20 lakh+ merchants.
Talking about the JioPhone 5G, Mukesh Ambani said that it will be co-developed with Google just like the JioPhone Next. Also, it will be in the affordable range for Indian 5G consumers. The launch date and price of this mobile is still a mystery.
The Jio 5G (Jio True 5G) networks will take effect by this Diwali in metro cities such as Mumbai, Delhi, Chennai, Kolkata, Hyderabad, Ahmedabad, etc. It has partnered with Qualcomm for this. By December 2023, Jio 5G will reach every part of the country.
