Mukesh Ambani Announces Standalone Reliance 5G, Independent from Jio 4G

Mukesh Ambani, owner of Reliance Industries at the 45th Annual General Meeting announces the launch of a standalone 5G service with ultra high speed, which will be completely independent of the Jio 4G network. Reliance will invest Rs. 2 lakh crore for the venture. Mukesh Ambani also announces that by Diwali RIL will launch Jio 5G in Delhi, Mumbai, Chennai, and Kolkata, and by December 2023, 5G will be delivered across the country.

The Reliance 5G infrastructure will help India's agriculture sector to enhance yields with the larger use of 5G connected drones. The healthcare and education sectors will also boom with Jio 5G. An unlimited number of devices can be connected with the Jio 5G service.

RIL's share price stood at Rs. 2,608.80/share till 2.25 pm, on August 29.

Reliance Industries Ltd. (RIL), India's biggest Oil to Chemical (OTC) company has a market capitalization of around Rs. 1,777,437 crore. They have evolved from a textiles and polyester company to an integrated player across energy, materials, retail, entertainment, and digital services. RIL has ranked 54 in Forbes Global 2000, in 2022. Reliance's venture RJio is one of the biggest telecommunication service providers in India. RIL has a significant market share in India's Refining and Marketing, Petroleum Retail, Reliance BP Mobility business.