India's richest man unveils broadband plan

July 5, 2018
Reliance sparked a price war in India's telecoms market when it launched its Jio network in September 2016

India's richest man Mukesh Ambani, who turned the country's mobile market upside down by offering free voice calls for life, is zeroing in on a new market—broadband internet.

Ambani told shareholders Thursday that Reliance Industries, his oil-to-telecoms conglomerate, will roll out fibre broadband across 1,100 Indian cities.

"We will now extend fibre connectivity to homes, merchants, small and medium enterprises and large enterprises simultaneously," he told investors in Mumbai.

His ambitious foray into fibre-based broadband would be "the most advanced" in the country, Ambani told shareholders at Reliance's annual general meeting.

The announcement is likely to send a chill up the spines of India's as the hugely wealthy conglomerate expands its drive into internet services.

Reliance sparked a price war and a rush to consolidation in India's telecoms market when it launched its Jio network in September 2016 by offering vastly cheaper tariffs and data plans.

Ambani said on Thursday that Jio had amassed 215 million customers as he announced his plans to boost India's fixed-line broadband coverage with the launch of Jio Giga Fiber on August 15.

"While India has pole-vaulted into global leadership in the mobile broadband space we still lag behind significantly in fixed-line broadband. Jio is determined to move India to among the top 5 in fixed-line broadband, too," he said.

Reliance's telecoms rival Bharti Airtel currently provides to Indian homes as does Tata Docomo and the state-owned BSNL among others.

Explore further: India's Ambani to launch free smartphone as he shakes up telecoms

Related Stories

India's TCS crosses $100-bln market value

April 23, 2018

Tata Consultancy Services (TCS) became the first Indian company in a decade to breach the $100-billion market value barrier after stocks in the IT giant soared on Monday.

Recommended for you

A novel approach of improving battery performance

September 18, 2018

New technological developments by UNIST researchers promise to significantly boost the performance of lithium metal batteries in promising research for the next-generation of rechargeable batteries. The study also validates ...

Germany rolls out world's first hydrogen train

September 17, 2018

Germany on Monday rolled out the world's first hydrogen-powered train, signalling the start of a push to challenge the might of polluting diesel trains with costlier but more eco-friendly technology.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.