Reliance AGM 2020 Highlights: From Google-Jio deal to Jio 5G solution

    At RIL AGM 2020, Mukesh Ambani, chairman and managing director of RIL, is set to make key announcements that highlight the performance of the overall RIL family over the past one year, which has been a topsy-turvy year for all businesses. Despite the circumstances, RIL has showed its commitment to all stakeholders by exceeding its business targets even in a difficult year – the oil-telecom-retail major has met its goal of becoming net debt-free way ahead of schedule, which had set a target of March 31, 2021.

    Jio Platforms has played a pivotal role in achieving this target. The company’s technology and telecom platform is one of the biggest entities in India’s technology sphere, and is leading the nation’s goal of technology adoption and digital transformation. Jio Platforms has attracted an incredible series of investments – with 13 investments in less than three months from companies and investment firms such as Facebook, Silver Lake, Vista Partners, PIF, Intel Capital and more. The company has attracted a total investment of Rs 1,18,318.45 crore by selling 25.24 percent of its stake to these investors, hence showing its versatility and business power.

    With that, it’s a wrap from RIL’s 2020 AGM. The key announcements were:

    1. Jio 5G – India’s first 5G network.
    2. Google’s investment for a 7.7% stake in Jio Platforms.
    3. Google-Jio joint venture to develop an Android-based platform for an affordable 5G phone.
    4. Expansion of JioMeet for Edu-tech and healthcare technology applications.
    5. Expansion of JioMart into more cities, use of WhatsApp as a platform.
    6. JioGlass as an affordable mixed reality headset for various commercial applications.

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