The world’s largest start up is Indian. Hint: It comes from the Reliance group

Reliance Chairman Mukesh Ambani has said that the group's telecom venture, Jio, is the world's biggest start up in terms of money involved. The start-up has seen an investment of Rs 150,000 crore, which aims to transform lives by making services affordable.

"It (Jio) is one of the largest transformational green-field digital initiatives anywhere in the world with an investment of over Rs 150,000 crore," Ambani said while speaking at a FICCI event.

However, he did not reveal the timeframe when the start-up would be commercially launched. Analysts are expecting a soft launch next month, while a wider commercial launch would be done by December this year.

On the other hand, 120,000 employees and partners of Reliance already have access to Jio, since it was launched for them in December last year.

"Jio will start services with 70% coverage of India. From day one. From day one, Jio mobile broadband will offer speeds that are about 40 to 80 times faster than the current average speeds," he added.

He also said that Jio services would be affordable to all the consumers. "All of this is of no use if we cannot make it accessible and affordable to consumeRs in all parts of the country."

He also added that against the current data consumption in India of about 0.15GB per month, Jio's network would be providing a capacity of 10 GB per month for every user.

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