Reliance AGM: Whopping 2 Lakh Cr investment for 5G Rollout this Diwali, over 2 L jobs & much more

Reliance Industries (RIL) held its 45th Annual General Meeting on Monday, where the Chairman and Managing Director (CMD), Mukesh Ambani made a groundbreaking announcement of launching the much-awaited 5G services in key cities including Mumbai, Delhi, Kolkata, and Chennai by this Diwali.

The company has committed a whopping Rs 2 Lakh Crore investment for the same. Subsequently, it also intends to balloon up its 5G network in each and every town, tehsil and talukas across the country by December of 2023.

Addressing the meeting, Reliance Retail Director Isha Ambani announced that the Retail behemoth will also be entering the Fast Moving Consumer Goods - FMCG business this year.

Here are the paramount takeaways from the RIL AGM:

• Akash Ambani, Chairman of Reliance Jio, announced the launch of the JioAirFiber hotspot. It will give users access to fibre-like speeds sitting at their homes and workspaces.
• The optic fibre network that will run across the country is over 11 Lakh Kilometres long, and is good enough to go around planet Earth 27 times.
• Reliance is set to invest ₹75,000 Cr in the petrochemicals, and textile business. Addressing the meeting, Ambani said that this investment will include setting up of a PTA plant, increasing the polyester capacity, also tri-expanding the vinyl chain capacity, and opening a chemical unit in UAE.
• Reliance Jio has partnered up with Meta, Google, and Microsoft. Reliance Industries chairman Mukesh Ambani announced the following partnerships for 5G standalone services: Meta, for immersive technology and metaverse; Google, for 5G smartphones and Google cloud capabilities; Microsoft, for cloud-enabled business applications; and Intel, for cloud-scale data centres and cutting-edge applications. -
• As per the company's integrated annual report, in the financial year 2021-22, Reliance added 2.32 Lakh jobs, increasing its total workforce strength to 3.43 Lakh.