Reliance Industr AGM 2020 Key Highlights
The 43rd AGM of Reliance Industry (RIL 43rd AGM 2020) has started. Reliance Industries Chairman Mukesh Ambani told the new plan to become self-sufficient with Google investment and 5G. In the 43rd AGM of Reliance Industries, Mukesh Ambani has made another big announcement for Jio. He said that the global search engine Google has announced an investment of Rs 33737 crore in the Jio platform. In return, Google will get a 7.7 percent stake in the Jio platform. The company is the 14th global company to invest in Google Jio.
(1) Preparation to make cheap 4G / 5G smartphone – He told that he will make 4G-5G smartphone with Google. These smartphones will be based on the Android operating system. Mukesh Ambani said that till now more than 10 crore live phones have been sold. But still feature phone users are waiting for the smartphone to come to them. Mukesh Ambani said, we believe that we can make entry level 4G and 5G smartphones. We believe that we can design a phone that will cost much less than a normal smartphone. Google and Jio together will create a value engineered Android based smartphone operating system.
(2) A new Jio TV + has also been announced. The new Jio TV + will have all the OTT channels like Netflix, Amazon, Prime Video, Hotstar. It does not require separate ID password for login. With Jio TV + you can watch anything on any OTT with just one click. JioGlass has been launched in AGM. The weight of this glass is only 75 grams. It will be connected to a cable. There are currently 25 apps in this glass, in which many other apps can be added further.
(3) Google will buy stake in Jio – He said that Google will buy 7.7 percent stake in Jio platforms for Rs 33,737 crore. Mukesh Ambani said that RIL has become the first company with 150 billion dollars. The company’s Abtida has become 1 lakh crore. EBITDA growth in the consumer business has been 49 per cent.
(4) Jio ready with world class 5G solution – Reliance Industry Chairman Mukesh Ambani welcomed investors. Chairman Mukesh Ambani said that Jio has created a 5G solution, which will provide world class 5G service in India. It was also told that the trial will begin with the availability of spectrum.
(5) Mukesh Ambani, the highest GST and VAT paying company, said that RIL is the highest GST and VAT paying company in the country. It is about 69372 crores in value. At the same time, RIL filed more than 8 thousand crore income tax last time.