Mukesh Ambani’s Reliance Industries on Thursday said that it will triple the headcount in the group’s telecom company over the year but was silent on the much anticipated 4G telecom roll out. At the share holders meeting today, an announcement regarding 4G roll out was expected. However, Ambani wasn’t too forthcoming with the company’s plans for 4G roll out. He acknowledged that there is a demand for “sense of urgency” but it doesn’t warrant “careless haste.” [Source]
Reliance Industries (RIL) subsidiary Reliance Jio Infocomm (RJIL) has bought licenses to launch broadband services across the country and is rumored to be launching 4G services this year. The Mukesh Ambani led group is making its second coming into the Indian telecom sector and is the only provider to have pan India lisence for 4G service.
Reuters reports that Reliance will invest more than $26 bn in its businesses over 3 years. “Together with our partners, we have charted an ambitious plan for the next 12 months, and we at Reliance Jio foresee making rapid progress over this period towards launching our services across India,” said Ambani [Source]
Reliance Jio’s 4G launch will help the internet economy in a big way as it improves the infrastructure across the country.