business plans: Jio shook rival telecom companies with their successful innings. So far there are 28 million Geo users in the country. A report by The Economist states that Mukesh Ambani, Chairman and Managing Director of Reliance Industries, wants to become the first Internet tycoon in the country.
According to The Economist’s report in the latest edition of 26 January, “With Geo Services, Ambani has eliminated other telecom companies and has changed the country. Now she wants to go further and use Geo like a launch pad to become Indian Jeff Bezos and Jack Ma.
According to the Telecom Regulatory Authority of India (TRAI), the number of mobile phone subscribers in India reached 1.17 billion in November last year. The broadband user base in the country has crossed 50 crore and about 97 percent of these are using wireless connections.
Geo has created a large user base of 28 million subscribers with its extremely cheap data plans. The report further states, “His ambition is to become a tech tycoon more than making money in telecom. RIL has already invested in content creation and has bought the rights to bring cricket matches and Disney Films to its’ Geo TV ‘platform.’
On January 18, in the ‘Vibrate Gujarat Global Summit 2019’, Mukesh Ambani announced that Reliance will double its investment and the number of employees in the next 10 years.
Encouraging PM Narendra Modi to fight against ‘data colonization’, Ambani said that Reliance Jio and Reliance Retail will soon launch a new commerce platform for small retailers. This mega mission will be from Gujarat and after that the mission will be run across the country.
JIO business plans
According to a report released by Reliance Geo Infocom last week about the October-December, 2018 quarter, the company’s net profit has increased 65 percent. In the third quarter of the financial year 2018-19, the company’s net profit was 831 crores, while in the October-December quarter of 2017-18, the profit was 504 crores.
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