Reliance Industries Limited (RIL) held its 45th Annual General Meeting (AGM) 2022 via video conferencing for the third consecutive year on August 29, 2022, and RIL Chairman & Managing Director (CMD) Mukesh Ambani made a number of announcements at the event.
- He made an announcement about the investment of Rs. 2 lakh crore during his keynote speech to support the introduction of 5G services in India.
Reliance Jio to Launch ‘World’s Largest’ 5G Services by October 2022
Reliance Jio Infocomm Ltd (Reliance Jio) plans to launch Jio 5G services “Jio True 5G” by October 2022, as declared by Mukesh Ambani, RIL’s CMD, at the company’s 45th AGM in 2022.
- The Jio 5G services would first be available in the metro cities of Delhi, Mumbai, Kolkata, and Chennai, and will then be phased out to other cities and towns before covering Pan-India by December 2023.
- The telecom giant has committed Rs. 2 lakh crore to the deployment of 5G services.
i.With the introduction of Jio True 5G, Reliance Jio will roll out the latest version of 5G technology, known as Stand-Alone 5G, which has zero dependency on its 4G network.
- Jio 5G will be the largest and most advanced 5G network in the world.
ii.With Stand-Alone 5G, Jio can offer new and potent services including low latency connection, massive machine-to-machine communication, 5G voice, Edge Computing & Network Slicing, and metaverse.
- The next-generation network, known as 5G, is seen as essential for developing technologies like self-driving cars and Artificial Intelligence (AI) around the world.
iii.Jio has indigenously designed a full cloud native, software defined, and digitally managed end-to-end 5G stack that supports even advanced features like quantum security.
iv.In August 2022, Jio emerged as the highest spender in India’s USD 19 billion 5G spectrum auction, winning airwaves worth USD 11 billion.
Whatsapp Launches an In-App Shopping Feature with JioMart in India
JioMart, a division of Jio Platforms, an Indian tech firm owned by RIL and WhatsApp, the well-known messaging service owned by Meta Platforms Inc., based in the United States of America (USA), introduced a new shopping product in India.
- Meta Platforms invested nearly USD 6 billion in JioMart in early 2020.
The new feature allows first-time JioMart customers in India to shop for products and pay for them directly within the app.
- Previously, people could browse products on WhatsApp but had to exit the app to complete the transaction.
JioMart is aiming for a larger share of India’s burgeoning online retail market with Flipkart and Amazon.com Inc., controlled by Walmart Inc.
- Mark Zuckerberg is the CEO of Meta Platforms Inc.
- In 2014, WhatsApp was acquired by Meta for USD 22 billion.
Reliance Jio & Qualcomm Collaborate to Develop 5G Solutions
Reliance Jio has teamed with Qualcomm, a chipmaker powerhouse based in California (USA) to provide 5G solutions in India.
- Qualcomm is a worldwide semiconductor and communications technology company that is also a significant investor in Jio Platforms.
In order to create an ecosystem that can be used far beyond India, Qualcomm will collaborate with Jio on a 5G infrastructure that is cloud-native, scalable, and flexible in both mmWave and sub-6GHz.
- Once they are successful in India, Reliance Jio and Qualcomm’s 5G technology will be used in other parts of the world.
With Jio 4G, JioFiber, and now Jio 5G, India will have access to the best, most affordable digital connectivity solutions.
Note: Cristiano Amon is the CEO of Qualcomm.
Reliance Retail to Enter the Fast-Moving Consumer Goods Market
RIL plans to establish its Fast-Moving Consumer Goods (FMCG) business in 2022 through its retail venture Reliance Retail Ventures Ltd. (RRVL).
Objective: To develop and deliver products that meet the daily needs of every Indian at an affordable price.
Reliance Retail will introduce its private-label FMCG brands—Reliance Fresh and Reliance Smart—to the general trade. These products are currently sold at its supermarkets and hypermarkets.
- The Indian FMCG market is estimated to be worth more than USD 100 billion, and it is dominated by global corporations such as HUL, Reckitt, P&G, Nestle, and local firms such as Dabur, Emami, and Marico.
Note: Isha Ambani is the Director of Reliance Retail Ventures Ltd. (RRVL).
Reliance Jio AirFiber & Jio Cloud PC Announced
Akash Ambani, chairman of Reliance Jio, showcased the new Jio AirFiber and Jio Cloud PC services at the 45th AGM of RIL in 2022.
- JioAirFiber enables users to access gigabit-speed Internet using wireless networks at their homes and workplaces.
- The Jio Cloud PC is a virtual PC that is hosted in the cloud and does not require any hardware.
The Jio AirFiber and Jio Cloud PC will both be built on the Jio True 5G mobile network service, which Reliance Jio has labelled as its fifth-generation service.
Reliance Unveils ‘Ultra-Affordable’ 5G Smartphone in Collaboration with Google
Reliance Jio has announced its collaboration with Alphabet Inc.-owned Google to introduce “ultra-affordable 5G smartphone” in India as part of a USD 25 billion strategy to roll out the next-generation wireless services.
- Jio’s Private 5G stack and other 5G-enabled solutions will be made available to both domestic and international users by harnessing the cutting-edge capabilities of Google Cloud.
RIL Plans to Switch to Green Hydrogen Production by 2025
RIL is planning to convert from grey hydrogen production to Green Hydrogen production, the clean form of hydrogen fuel, by 2025. RIL is a major producer of grey hydrogen in the world.
- Furthermore, during the next five years, the company will invest Rs. 75,000 crore in the petrochemical industry.
To accelerate cost reduction and commercialization of their Pressurized Alkaline Electrolyser technology, RIL has teamed with climate technology company Stiesdal.
Reliance Industries to Manufacture Battery Packs by 2023
RIL plans to begin manufacturing of battery packs by 2023 and ramp up to a fully integrated 5 gigawatt-hour (GWh) annual cell-to-pack manufacturing plant by 2024. It will then expand to 50 GWh of annual capacity by 2027.
- To produce safe and dependable batteries with high energy density and quick charging capabilities, the company is developing an end-to-end battery ecosystem.
- It starts from battery materials to cell manufacturing, leading up to packs and Battery Management System (BMS).
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In July 2022, Reliance Industries Limited (RIL) announced a long-term partnership with Indian Olympic Association (IOA) to set up the first ever India House at Paris Olympics 2024.
About Reliance Industries Limited (RIL):
CMD – Mukesh Ambani
Founder Chairman – Dhirubhai Ambani
Establishment – 1973
Headquarters – Mumbai, Maharashtra