Read what Mukesh Ambani had to say at the company’s AGM on Jio’s future plans, 5G rollout and more

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Read what Mukesh Ambani had to say at the company’s AGM on Jio’s future plans, 5G rollout and more



Mukesh Ambani, the Chairman of Reliance, has initiated the process for the company’s 5G services. Reliance Industries Chairman, talked about the growth of 5G in India and also highlighted the growth of Reliance Jio at the company’s 46th Annual Genral Meeting. “Jio’s overall customer base has now crossed the milestone of 450 million subscribers, reflecting a year-on-year revenue growth of over 20%. Per-user data consumption on Jio’s network has also surged, with the average user now consuming over 25 GB every month,” Ambani said.
Ambani also mentioned that Jio has more than 50 milliom 5G customers and the company is focusing on the smooth transition of its G customer base to 5G, with minimal additional capital expenditure. “With over 50 million 5G customers, we’re 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. With the growing adoption of Jio 5G, we are also seeing an increasing trend of high-ARPU, post-paid customers choosing Jio as their preferred network,” added Ambani.
Read the complete speech of Mukesh Ambani about Jio’s growth and company’s 5G plans
Dear Shareholders,
Let me now present to you the performance of each of our businesses. I shall start with Jio, our digital services business.
We have witnessed another year of outstanding growth, posting an all-time high revenue of ` 1,19,791 crore and an EBITDAof ` 50,286 crore.
Jio’s overall customer base has now crossed the milestone of 450 million subscribers, reflecting a year-on-year revenue growth of over 20%. Per-user data consumption on Jio’s network has also surged, with the average user now consuming over 25 GB every month. This translates to a monthly data traffic of 1100 crore GB, representing a 45% year-on-year growth. My congratulations to the entire Jio team for this exceptional achievement.
Jio was launched seven years ago with an ambitious mission: to transform India into a Premier Digital Society, where technology would bring positive change in every sphere of our lives and in every sector of the nation’s economy. It has been our great privilege to contribute to this revolution, and we have invested our heart and soul into building a Digital Public Infrastructure which the entire world has begun to admire. Jio has indeed been the main catalyst of New India’s spectacular digital transformation. Now our ambitions are even higher ─ and they go beyond the shores of India, as I shall explain.
Let’s first discuss Jio True 5G, our pioneering 5G broadband offering. We began our 5G rollout last October. In just nine months, Jio 5G is already present in over 96% of the census towns of our country. And we’re on track to cover the entire country by December this year. This makes Jio 5G the fastest-ever 5G rollout of this scale anywhere in the world.
Today, nearly 85% of the 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 one million 5G cells operational in our network by December.
With this massive reach and capacity, here is our promise: We know that every home, small and medium businesses, factories, schools, and hospitals across India would like to have 5G. From December this year, we will be able to promptly fulfil each and every demand for Jio 5G broadband connection across the country.
Last year, I highlighted several advantages that differentiate Jio 5G from other Indian operators, including our Comprehensive Spectrum, our Standalone 5G Architecture and Carrier Aggregation. Recently, we used our own 5G stack to become the first operator in the world to launch commercial services on millimetre-wave spectrum, using Standalone 5G. This high-capacity, low-latency layer will significantly enhance private 5G, home broadband, and enterprise use cases.
We have also built our own low-power small cells to go deeper into specific pockets of high consumption, like tourist spots and temples, in a highly energy-efficient manner. These advantages, along with our massive scale of deployment, mean that the best 5G coverage, capacity, and experience is possible only with Jio 5G.
Friends,
With over 50 million 5G customers, we’re 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. With the growing adoption of Jio 5G, we are also seeing an increasing trend of high-ARPU, post-paid customers choosing Jio as their preferred network. And Jio is the operator of choice for mobile users. Our net port-ins via Mobile Number Portability was five times than that of our nearest competitor. We truly appreciate the confidence placed in us by our customers. We are inspired by their trust to reach a new Gold Standard of Excellence in customer service by leveraging AI and cutting-edge CRM tools.
Friends,
Jio is also the only company that offers its 5G customers the complete ecosystem of connectivity, devices, support services, and value-added services. Through Reliance Retail, we have the most expansive sales and support network for 5G devices and services across India. And we have plugged all leading 5G Smartphone OEMs into this network to ensure nationwide availability, and adoption, of the widest range of 5G devices. Taken together, this comprehensive ecosystem makes Jio the prime mover and undisputed leader in India’s 5G evolution. There is one important aspect of the Jio journey that I am especially proud of. And that is how we have transformed ourselves from mere implementers to original creators of cutting-edge technologies.
When we launched our 4G services in 2016, we relied on global partners for equipment. Today, our 5G rollout is powered by Jio’s own 100% in-house developed 5G stack, which perfectly aligns with our Prime Minister’s Atmanirbhar vision. It features advanced technologies like Standalone 5G architecture, Carrier Aggregation, and Network Slicing, with advanced AI/ML capabilities that optimise our vast network for unparalleled quality, reliability and user experience. And it is designed to seamlessly integrate with the 4G and 5G equipment from other global vendors.
Jio’s own portfolio of 5G radios range from small cells to large tower-based radios, addressing the entire spectrum of outdoor and indoor usage scenarios. And our focus on continuous innovation has positioned us to be among the first globally to develop 6G capabilities.
In fact, we have become one of the largest filers of global patents from India for digital technologies, affirming our transformation from a telecom operator to a technology company. Therefore, in the coming years, I can see Jio leveraging our Made-in-India tech stack to drive value creation and revenue growth, both at home and abroad.
Dear Shareholders,
As India embraces 5G, let’s not forget those who still await their chance to join the Digital Revolution. Even today, 250 million featurephone users in India remain stuck in the 2G era, unable to access digital services. To eliminate this digital divide in India once and for all, we have recently launched Jio Bharat, a revolutionary, ultra affordable 4G phone. Priced at ` 999, which is less than the price of a 2G featurephone, Jio Bharat has smartphone-like features such as live TV, streaming video and music, digital photography, and even UPI payments. We expect a bulk of 2G users to join our network.
Let’s now discuss JioFiber, our optical fibre-based home broadband service. In just a few years, despite COVID-19 disruptions, Jio Fiber has crossed 10 million subscribers, each of whom consumes, on an average, over 280 GB of data per month which is over 10 times higher than our per-capita mobile data consumption.
Today, Jio’s optical fibre infrastructure spans over 1.5 million km across India. This immense scale puts us in a league of our own, far ahead of the competition. Our extensive optical fibre presence puts us in close proximity to over 200 million premises. Yet, providing physical last-mile connectivity is a painstaking process in most parts of our country. This leaves millions of potential customers without home broadband due to complexities and delays involved in extending optical fibre to their premises. This is where JioAirFiber, our fixed-wireless broadband offering, comes in.
JioAirFiber uses our pan-India 5G network and advanced wireless technologies to bypass the need for last-mile fibre. Through optical fibre, we can currently connect around 15,000 premises daily. But with JioAirFiber, we can supercharge this expansion with up to 150,000 connections per day which is a 10-fold increase, expanding our addressable market over the next three years to over 200 million high-paying homes and premises.
And through fixed-mobile convergence, we can foster greater engagement and loyalty among Indian households, especially premium households where home broadband usage is growing the fastest. This also lays the foundation for widespread adoption of various Smart Home solutions, which Akash and Kiran will describe in their demo section. Today, I’m delighted to announce that JioAirFiber will launch on the auspicious occasion of Ganesh Chaturthi on 19th September, giving us another avenue for customer value and revenue growth in the untapped Indian home segment.
Friends,
Let’s now turn to Jio’s business services. Our connectivity offerings for large enterprises and small businesses have doubled over the past year. Today, Jio provides connectivity services to over 80% of large enterprises in India. However, the potential in the enterprise sector, and especially within the Small and Medium Business (SMB) segment, is far greater than what we have realised.
Historically, enterprise services accounted for a large proportion of most telecom operators’ revenues. This suggests that we have a golden opportunity to rapidly catch up and build an enterprise connectivity business that mirrors the scale of our consumer business.
But we are not stopping at connectivity; we are also aiming to support the full spectrum of digital needs for Indian businesses. Jio Platforms, our digital services arm, is already providing end-to-end professional and managed services for all the businesses of the RIL Group, covering diverse verticals such as Telecom, Retail, eCommerce, Manufacturing, Media, and Financial Services. These technology-enabled services allow our group businesses to streamline their operations, scale seamlessly, and harness the power of real-time data and AI, giving them a significant competitive edge in their respective markets. I believe Jio Platforms is now ideally placed to offer these innovative platforms, services, and managed services to businesses outside the RIL Group, both in India and abroad. This represents yet another powerful driver of growth for both Jio connectivity and Jio Platforms.
Friends,
Let us now consider what the rapid scale up of Jio 5G means for our nation as a whole. Jio 5G holds the potential to transform all sectors of our economy, especially those with maximum grassroot impact. In Agriculture, real-time monitoring and data analysis can enhance farm productivity and crop yields. In Education, we can deliver immersive e-learning experiences to the remotest parts of our country, democratising education for every student. In Healthcare, we can use telemedicine to ensure that quality healthcare reaches every corner of India.
For the MSME sector, we can enable our small businesses with digital tools, empowering them to innovate, expand, and drive economic growth and job creation.
With Jio 5G, we are renewing our promise to build a brighter and more inclusive digital future for every Indian. With that, let me invite Akash and Kiran on stage, to talk about some of the exciting developments at Jio.





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