Highlights of Reliance Industries 43rd AGM of AY. 2020
On 15th of July of 2020 in the Reliance, industries held companies first virtual annual meeting where they announced some of the major announcement like Google will invest Rs 33,737 cr for a 7.78% of s take in Jio Platforms. I am here to explain about Highlights Of Reliance AGM 2020.
In Reliance JIo’s Annual General Meet 2020 the Mukesh Ambani announced that “Google LLC will invest ($ 4.5 Billion) Rs 33,737 Cr. for a 7.7% stake in Jio Platforms”. In addition, they also stated that the company is developing Jio TV Plus, Jio Glass, and JIO 5G from total scratch. They also announced details about JioMart and Jio 5G…
Let’s go here are the Highlights Of Reliance AGM with point wise detail
Highlights Of Reliance AGM 🙂 🙂 🙂
1) JIO 5G
Reliance JIO has designed and developed a complete 5G solution from complete scratch and it leads a world-class service in India. It will be ready for trial as soon as the 5G spectrum is available(Maybe in next year through some sources). It can be ready for field development next year.
2) JIO Mart
JioMart and WhatsApp will be working together. JioMart is built for Kirana stores merchants and for customers. The platform launched a few months ago in 200 cities of India. As an entry-level offer to customers will get Covid-19 kit with the first order, as said by Isha Ambani. Jio is working with WhatsApp to offer customers a great experience in the future. Mukesh Ambani said, “JioMart and WhatsApp will be working closely to create growth opportunities for millions of Indian small merchants / Kirana retailer and enable customers to transact with Kirana shops.”
3) Google Partnership
Google and Reliance JIO are partnering to build an android based operating system that could power a value engineered. And the motive is to make India “2G Mukt”. Google LLC (Limited Liability Company) invested an investment of $4.5 billion (Indian Rs 33,737 crore) in Jio Platforms Ltd. And taking 7.73 percent stake in JIO Platform. It might be the first step in funding digital innovation in the country in India. It also aims to accelerate India’s digital economy over the next five to seven years
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4) JIO TV +
JIO TV + is a content aggregator and features aggregated contents from over 12 leading OTT Platforms players named as Netflix, Amazon Prime, Disney Hotstar, Voot, Sony LIV, Zee5, JIO cinema and many more. One of the main Aim of Jio TV+ is that customers require a single login instead of logging in different apps and different sources to enjoy separately.
5) JIO Glass
Reliance JIO launched it’s latest imaginative innovation named as “JIO Glass”. It is a HoloBoard Mixed Reality Headset which is a similar functioning. It is designed for teachers and for students to make 3D virtual rooms and conduct holographic classes. it also will be used for conducting virtual meetings.
Investment of google
PM Of India, Narendra Modi Held A Discussion With Alphabet And Google CEO (Chief Executive Officer) On A Wide Range Of Subjects, Where Narendra Modi Discussed Corona Pandemic with Sundar Pichai. While Speaking At The 6th Edition Of Google For India, Sundar Pichai Announced That The Company Would Be Investing Nearly $10 Billion. For Developing Infrastructure And Funding Digital Innovation In The Country Over The Next Five To Seven Years. The Event Was Conducted In Collaboration With The Ministry Of Electronics And Information Technology. Google & Alphabet CEO Sundar Pichai Will Invest Rs.75,000 ($10 Billion) In India.
Google LLC (Limited Liability Company) invested an investment of $4.5 billion (Indian Rs 33,737 Crore) in jio Platforms Ltd. And take 7.73 per cent stake in JIO platform. It might be the first step in funding digital innovation in the country in India. It also aims to accelerate India’s digital economy. with a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments, as on CEO of Google LLC Sundar Pichai said.
CEO announced the partnership with Jio Reliance on Wednesday by adding that ‘More work needs to be done to provide digital access to billions of Indians who still don’t have a Smartphone and who using 2G touchpad Phones’. This will take less than 5 years to build.
Google and Jio Platforms together entered a commercial agreement for developing an entry-level but affordable Smartphone with optimizations to the related to the Android operating system and on Play Store. “Through this partnership agreement with Reliance Jio Platforms, we can see the chance to have a greater impact than either company could have ever done alone.
Earlier this week Sundar Pichai CEO of Google announced the ‘Google For India digitization fund’ with committing Rs 75,000 crore for acceleration of India’s digital economy for the next five years.
“Our investment of $4.5 million in Jio is the first and biggest investment we will make towards this effort. I’m excited that our collaboration will focus on increasing access for hundreds of Million of users who don’t currently own a smartphone while improving the mobile experience for all,” Pichai said at the 43rd Annual General Meeting of Reliance Industries Limited.
“Smartphones and affordable data have enabled millions of Indians to come online. Reliance and Jio, in particular, deserves a good deal of credit for this progress But there is more work to do to connect every Indian to the opportunity that technologies create,” he said,
Pichai also launched Jio’s investments to expand telecommunications infrastructure, low-cost phones and affordable internet for having changed the way its hundreds of millions of subscribers find news and information, communication with one another, use services and run businesses, he said in a blog post.