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Mukesh Ambani’s Reliance Industries forays into Telecom

Reliance Industries Limited (RIL) Chairman Mukesh Ambani, on Thursday, laid out his plans to unveil a 4G mobile network Reliance Jio in the country, including making all domestic voice calls and roaming free, while saying data would be priced well below its competitors.

Mr. Ambani, speaking at the company’s annual general meeting in Mumbai, added the 4G network would cover 90 per cent of India’s 1.25 billion population by March 2017 and would eventually cover 18,000 cities and 200,000 villages.

Aims for 100 million customers

Mr. Ambani said the company would seek to have 100 million customers in the shortest possible time as it builds out its 4G network across the country.

He also unveiled the goal during Reliance’s annual general meeting in Mumbai in which India’s richest man detailed its ambitious foray into the wireless mobile sector.

Announces free voice calls, cheaper data tariffs

Mr. Ambani announced free voice calling, zero roaming charges and cheaper data tariffs for Jio customers.

Mr. Ambani also announced a ‘free welcome offer’ for Jio customers from September 5 till December 31. Reliance Jio will offer users data services free for four months, after which it will offer 10 tariff plans starting at Rs 19 a day for occasional users, Rs 149 a month for low data users and Rs 4,999 a month for heavy data users.

Devoting an hour of his speech at the RIL’s 42th Annual General Meeting, the billionaire industrialist said Jio is targeting 100 million users in a shortest possible time.

The company also announced “super-affordable” handsets under the LYF brand starting Rs 2999.

About CA Karishma

I am a Chartered Accountant by profession and an avid teacher. Writing is my hobby and this blog is a platform to share knowledge and interact with prospective Chartered Accountants. I locate my work at the intersection of Chartered accountancy & education. I teach among others, Taxation at Tapasya Academy for CA, one of the premier institute for Chartered Accountancy course in Andhra Pradesh.

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