Reliance AGM 2023: At 2:00 pm, the highly anticipated Reliance AGM 2023 began with a speech by Mukesh Ambani to investors and shareholders. A number of announcements are being made, including a status report on the 5G rollout, a roadmap for Jio Financial Services’ future development, and plans for the IPO of Reliance Retail.
A major update on Jio 5G was provided by Mukesh Ambani, who stated that the company is on pace to cover the entire nation by the end of 2023.
“Jio 5G was launched 7 years ago with an ambitious mission: to transform India into a Premier Digital Society. Jio has been main catalyst of New India’s spectacular digital transformation. Now our ambitions go beyond the shores of India,” he said.
“We began 5G rollout last October. In 9 months, Jio 5G is already present in over 96% of the census towns. And we are on track to cover entire country by Dec ’23. This makes Jio 5G the fastest-ever 5G rollout anywhere in the world. Today, nearly 85% of total 5G cells operational in India are in Jio’s network. At our current pace, we are adding one 5G cell to our network every 10 seconds, and we will have nearly 1 mn 5G cells operational by December,” he added.
Reliance AGM 2023: Jio leading 5G adoption in India
Mukesh Ambani said Jio is leading 5G adoption in India with over 50 million customers. “With over 50 million 5G customers, we are already leading in 5G adoption in India. And we are the only company with the capacity to smoothly transition our entire 4G customer base to 5G, with minimal additional capital expenditure,” Mukesh Ambani said.
“We used our own 5G stack to become 1st operator in world to launch commercial services on mm-wave spectrum. This high-capacity, low-latency layer will significantly enhance private 5G, home broadband, and enterprise use cases,” he added.
We see a noticeable increase in high-ARPU post-paid consumers choosing Jio as their preferred network as Jio 5G adoption rises. According to Mukesh Ambani, our net port-ins through MNP were five times higher than those of our closest rival.
“Jio is only company that offers complete ecosystem of connectivity, devices, support and value-added services ensuring nationwide availability and adoption of 5G devices. This makes Jio undisputed leader in India’s 5G revolution,” he added.
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