LIVE: Mukesh Ambani’s AGM Speech Highlights

The following are the major highlights of the speech made by Mukesh Ambani at Reliance Industries’ annual general meeting 2019.

He is expected to announce details of the launch of Jio GigaFiber, the cable and broadband service that has been five years in the making.

He is also expected to detail the company’s ambitious e-commerce venture involving small retailers, to compete with the likes of Flipkart and Amazon.

  • 30k LCOs in contact via three MSO
  • Upgraded features of these LCOs over the past year
  • Designed Jio STB
  • Jio STB will accept signals from LCO partners
  • 15 million registrations for Jio Gigafiber
  • To reach 20 million residences soon in 1,600 towns
  • Mobile is only one engine
  • We will kickstart 4 more engines – IoT, home, enterprise, SME
  • Invested 3.5 lakh cr invested in Jio
  • Jio is already 4G plus, can upgrade it at low cost to 5G
  • We invested in pre-invested in network assets
  • Investment cycle into core network now complete
  • Marginal investments required only in access layer
  • Aramco & RIL to form long term partnership.
  • Aramco to buy 20% of oil to chemicals business of RIL at an enterprise value of $75 billion
  • Will cover all refining and petrochem operations
  • 500k barrels per day of crude oil supply from Aramco
  • Two consumer businesses contribute 32% of operating profit.
  • This is a year of partnerships with smaller businesses.