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<ul><li>RCom made an early bet on CDMA technology which went out of style, while Jio chose LTE technology of 4G. </li><li>Mukesh spent massively on country-wide fibre networks, yet he is cognizant of the risks that a massive debt at the group level.</li><li> The plan to list Reliance Retail and Reliance Jio in the next five years will complete the circle of deleveraging giving his telecom venture a longer lifetime than RCom.</li></ul> It is a truth commonly acknowledged that Anil Ambani has run up debts he could not service. That is especially true with the ₹46,000 crore that <a href="https://www.businessinsider.in/anil-ambanis-rcom-to-go-through-bankruptcy-process-with-nclt/articleshow/69228691.cms">sunk his company</a>, Reliance Communications (RCom). A bet on the wrong technology meant extra investments, which coincided with the global economic slowdown, and piled debt so high, the risks of which were ignored at its peril. Now, RCom is facing bankruptcy proceedings and Anil’s brother Mukesh Ambani’s Reliance Jio seems to be thriving. The only difference is Mukesh seems determined not to repeat the mistakes of the past, both his own and that of his brother, with Jio. Betting on a technology that soon went out of fashion RCom had early on bet on an obsolete-to-be technology, which became its undoing. In the early 2000s when Airtel and Hutch (later Vodafone) went with GSM technology, both Tata Teleservices and RCom went in for CDMA technology, which users did not fancy. “I doubt if that could be termed as a mistake as many countries were using the technology but the world just went another way,” Alok Shende, Managing Director of Ascentius Insights, a management consulting firm tells Business Insider India. Years after RCom came under Anil Ambani, as <a href="https://www.indiatoday.in/business/india/story/ambani-vs-ambani-when-brothers-broke-up-150083-2011-12-27">Reliance Industries was divided </a>in 2004, he had to shift to the much-popular GSM technology. The shift required one more costly one-time investment in terms of network upgrade and spectrum; and the timing wasn’t right either. Mukesh Ambani has stepped with Jio, which started out on LTE technology of 4G. And he is not stopping at that. “Because of our early adoption of the ongoing enhancements to LTE technology our wireless network is already 4G PLUS. And we can upgrade this to 5G at minimum incremental cost,” he promised his shareholders at his annual general meeting this month. Jio fibre cable will deliver high-speed Internet right to homes and this will kickstart yet another set of services without having to fork out extra for spectrum. Telecom tariff war-- then and now Jio is currently waging a bitter price war in the telecom market. However, it is nothing new. A raging telecom price war started by Tata Teleservices in 2008 with one paisa per second plan, had hurt many others <a href="https://www.livemint.com/Home-Page/vaUfK95QU2z2cInvqWBv2I/RCom-sets-1-paisa-SMS-fee-extends-the-tariff-war.html">including him</a>. However, the shift from CDMA to GSM soaked in a lot of fresh investment that RCom could have spent to survive the price war. There are times when investments are affected the broad economic conditions. RCom’s second round of investments was followed by a global credit crunch after the Lehman Brothers’ collapse in September 2008, which made debt expensive and business extremely difficult. Debt is not bad, high-cost debt is. What is worse is to binge on it. Jio too has piled on a massive debt in rolling out its services and burning cash offering discounts and ultra-cheap tariffs to lure over 330 million customers in the first three years of its operations. The tariff attack <a href="https://www.businessinsider.in/details-of-jio-fibre-new-tariff-plan/articleshow/70639942.cms">continues with Jio Fibre</a>, too as the company speeds to acquire 500 million subscribers, but there is a difference between the Ambani brothers. One woke up to the debt pile on time, the other didn’t Mukesh spent massively on country-wide fibre networks and is bleeding his competitors. Yet, he is cognizant of the risks that a debt of ₹2.8 lakh crore at the group level poses. In a timely move, Reliance Industries (RIL) announced that it would sell 20% stake in its oil-to-chemicals business to Saudi Arabia’s state-owned Aramco, the world’s largest oil producer, for $15 billion. Not just that, he plans to turn RIL into a zero net debt conglomerate by March 2021. Within the telecom business too, he brought in Canadian fund Brookfields which invested ₹ 25,215 crore in the towers unit. The plan to list Reliance Retail and Reliance Jio in the next five years will complete the circle of deleveraging giving his telecom venture a longer lifetime than Anil’s RCom. “It is a very classic Reliance way of doing things which is vertically integrated model. And, the results will play out in the next 5-10 years,” Shende said about Mukesh’s plan to retire debt early. It will allow Jio to focus on adding services, like it already plans to, and bring its A-game to the tight race in telecom with Airtel and Vodafone Idea. “Jio will look at massive dominance in many areas like entertainment, e-commerce, Internet Of Things and will get more aggressive,” says Kunal Bajaj, a top telecom expert and consultant.

Mukesh Ambani's strategy with Reliance Jio is avoiding Anil Ambani's mistakes with RCom

<ul><li>One of India's biggest conglomerates is changing character adapting to the compulsions of the digital age.</li><li>Satya Nadella's appearance was the big surprise at the AGM as Microsoft and Mukesh Ambani joined hands to take on Jeff Bezos' Amazon in areas like cloud computing and targeting small businesses for digital transformation.</li><li>RIL was already shifting focus to its consumer businesses like retail and telecom, but now it is aiming for large scale integration of interests wherever possible.</li><li>Money coming in from Aramco and BP will give RIL more muscle to aggressively take on incumbent telecom players like Airtel and Vodafone-Idea in not just mobile telephony but also in fixed line broadband, Jio Fibre, that will be launched on September 5.</li></ul>All eyes were on Mukesh Ambani today (August 12) who delivered his speech at Reliance Industries' 42nd Annual General Meeting (AGM). Here are the top ten takeaways from a historic speech that laid out the path for the transformation of one of India's biggest and fairly old conglomerate: 1. A $15 billion cash-out Saudi Arabia's state-owned oil producer, Aramco, will buy 20% stake in the Indian behemoth's oil-to-chemicals business, valuing the unit at $75 billion. This would make the investment from Aramco in RIL at about $15 billion. This partnership will be across refining and petrochemical assets. The Saudi government owned oil major will also supply 500 barrels of day crude oil to RIL’s Jamnagar refinery. “This signifies perfect synergy and world’ largest integrated refinery and petchem complex,” Ambani said. 2. More money, less debt Reliance Industries has a huge debt of about $21 billion. This has been a huge concern for investors lately which led to a fall in the stock price in the last few months. However, Ambani declared that the net debt will be zero by March 2021. The company has cash and cash equivalents of about $19.5 billion and another $15 billion from Aramco will help the company retire its massive debt. RIL will also get another $1 billion from its joint venture with BP. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 3. Reliance Jio and Reliance Retail will be spun out Reliance Jio and Reliance Retail will be listed in the next five years, Mukesh Ambani told his investors. "There has to be an 18-month gap between the two listings, and therefore the five-year timeline may be crunched to 3 years," an analyst, SP Tulsian, explained on CNBC-TV18. 4. Satya Nadella comes for a cameo, but is here to stay The surprise guest at the AGM today was global tech icon Satya Nadella, the Chairman of Microsoft, who joined the RIL AGM. Microsoft and Reliance Industries have joined hands to take Jeff Bezos' Amazon head on. 
	
 
 
 
 
 
 
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 "It is imperative to develop a nation-wide cloud infrastructure which is at the same time cutting-edge and affordable," he said. Microsoft will bring Azure into Jio data centres. Small businesses can get the voice/data services, marketing and sales solutions and all Microsoft tools package at a starting price of ₹1,500 a month. 5. The threat to Jeff Bezos Microsoft's tie-up with Jio will, probably, be the biggest challenge for Jeff Bezos in one of the world's biggest markets, India. Reliance will offer end-to-end digital stack to "enable and empower" small merchants currently at the mercy of other online retail platforms like Amazon and Flipkart (now owned by Walmart). This stack will include a point-of-sale payment device, which could be a $900 billion market, according to Jal Irani, analyst at Edelweiss Financial Services. 6. Once an oil giant, now immersed in technology Ambani's plan for digital transformation is that of convergence with the physical world. Reliance Industries plans to take long strides in spaces like 'Internet of Things' (IoT), cloud computing and a broadband ecosystem. So far, Jio had only one revenue stream, and now there will be four more streams of revenue that will kick in from the current financial year itself. "Within another 2 years, there will be over 2 billion connected devices in India, and Jio aims to have half of those on its IoT platform. This will be a ₹20,000 crore revenue opportunity and the commercial ops will begin from January 2020," Ambani said. 7. <keyword id="7975366" type="UNKNOWN" weightage="20" keywordseo="jio-fibre-launch-date">Jio Fibre launch date</keyword> and tariff plan Jio Fibre will be availabe starting September 5, the third anniversary of Jio's launch, across India. The full network roll-out for Jio Fibre in the next year. After disrupting mobile telephony, Ambani is targeting the fixed line broadband. Of the total 240 million households in India, the broadband penetration in India is only about 10% right now. That leaves Ambani to fight a large under-served market without having to offer deep discounts. Jio will come bundled with most-premium OTT applications. Jio will also release movies on its platforms on the same day as the theatres. Jio Fibre users subscribing for 'forever annual plans' will get an 4K LED television and a 4K set-top box. 8. The difference between Jio mobile and Jio Fibre However, this time Jio does not seem to burn cash offering discounts to win over customers but is betting more on offering more value for a reasonable price. The plans will cost anywhere between ₹700 and ₹10,000 per month. Any voice call on Jio will be free forever. The fixed line international calls will be cheaper by up to 90% of the existing industry tariffs. Calls to US and Canada from India on Jio will cost only ₹500 a month. 
 
 
 
 
 
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 9. From content creator to content aggregator Jio seems to have changed focus from creating fresh content for its platform to building alliances with other OTT platforms. Ambani also revealed that Jio will be able to offer traditional TV channels to its customers. Earlier this year, RIL acquired controlling stakes in Hathway, Den and GTPL. Together, they give RIL access to 30,000 local cable operators. "We have designed a Jio set top box that will broadcast TV channels, for which the local cable operators will get a steady revenue. This set top box will be sold to all Jio Fibre customers," the RIL chairman said. Premium subscribers of Jio Fibre will also be able to watch newly-released movies at the comfort of their home on the day of their release in the theaters. This will be a huge setback for companies like Inox and PVR as Jio's offering may affect footfalls at multiplexes and box office collections too. 10. More bad news for Vodafone Idea and Airtel Jio's mobile phone services has about 340 million subscribers as of now. Ambani is targeting to take this number to over 500 million over the next few months. That would mean Jio will remain an aggressive player in the market and that's bad news for other players like Airtel and Vodafone Idea. Given that RIL is getting additional cash from Aramco and BP, and if it becomes a zero net debt company by March 2021, the company of its size and scale will only have more money to muscle out other players with its aggressive pricing. Other telcos are already in deep trouble after having fought Jio in the market for nearly three years with higher discounts, funded by higher debt. "Reliance Industries' stock may hit a new high, beating its previous high of about ₹1,400, in 2019 itself," SP Tulsian said. Expect a rally when the market reopens for trade on Tuesday (August 13). SEE ALSO: <a href="https://www.businessinsider.in/business/what-to-expect-from-mukesh-ambani-at-reliance-industries-agm/articleshow/70637794.cms" data-type="tilCustomLink" target="_blank"></a>

Mukesh Ambani's speech at the Reliance Industries AGM had ten big takeaways

<keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword> has announced the launch of Jio Fiber broadband service from September 5 and the registration process has already started. The scheme comes with a bundled offer providing a combo pack of broadband connection, TV set-top box and a landline phone connection. Also called as the Jio GigaFiber, the Jio Fiber broadband package will be priced from Rs 700 per month and will go up to Rs 10,000 for premium class customers. What is on offer in Jio Fiber Reliance industries has also launched a Jio Welcome offer that will provide the users who subscribe to its annual plans with an HD or 4K LED TV and a 4K set-top box for free. The landline connection given as part of the plan will also be free of cost. On top of it, the company has no plans to charge any installation charges during the time of rolling out the scheme. Applying rules for Jio Fiber The users will have to make a refundable security deposit of Rs 2,500 to get the router or ONT device. Applying for the Jio Fiber connection is a simple three step process. Visit <a href="https://gigafiber.jio.com/registration">https://gigafiber.jio.com/registration</a> and enter the details of the address where you want the Jio Fiber connection also inputting the details like name, mobile number and email ID. Once this registration is done, you will get a message that the sales representatives of the company will connect with you after confirming the feasibility of providing the service at the desired location. For getting the connection, you will have to submit Aadhaar card or any other proof of identification and an address proof.

How to get Jio Fiber broadband service?

Mushfiqul Alam/NurPhoto via Getty Images The "Jio effect" is changing the internet. <ul class="summary-list"><li>Something is happening in India which could completely reshape internet culture. Millions of Indians gained regular access to the internet for the first time over the past three years.</li><li>This is thanks to the "Jio effect," after regional mobile operator Reliance Jio launched extremely cheap data tariffs in 2016, costing as little as Rs 15 ($0.21) per GB.</li><li> Indians went from consuming an average of 700mb of data per month to 11GB, according to Counterpoint Research analyst Neil Shah.</li><li>This has led to unintended consequences like Indian music label T-Series overtaking YouTube star PewDiePie to become most-subscribed YouTube channel.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories</a>.</li></ul>The "Jio effect" is little known outside India, but it's already reshaping the way Silicon Valley does business. The phenomenon is named after the arrival of Reliance Jio, a mobile network operator that launched in 2016 with extremely cheap data plans. The network was founded by Indian billionaire Mukesh Ambani, and the telco went from zero customers to becoming the biggest mobile operator in the world with more than 300 million subscribers. To put this in context, Reliance Jio's customer base is about as big as the entire US population. REUTERS/Francis Mascarenhas Mukesh Ambani, the Chairman of Reliance Industries, his wife Nita Ambani, their son Akash Ambani and daughter Isha Piramal pose at the wedding ceremony of Akash, at Bandra-Kurla Complex in Mumbai. Jio's radical move was this: making 4G available to millions of Indians for free in 2016. It began charging nominal amounts for data in 2017 and, by then, the Indian appetite for internet content knew no bounds in part thanks to the availability of budget Android smartphones. Initially, Jio made no money, <a href="https://www.businessinsider.in/reliance-jio-and-reliance-retail-may-help-mukesh-ambani-rils-quarterly-earnings/articleshow/70274830.cms">but it has now become profitable</a>. "Jio has changed the consumption habits for hundreds of millions of consumers," said Neil Shah, an analyst at Counterpoint Research. "More people are using smartphones as their first device, unlike developed markets where the PC is the first device." Shah estimates that thanks to Jio's pricing, Indians have gone from consuming just 700MB of data per month to 11GB. This would let you watch about 30 episodes of "Game of Thrones." "You can get around 28GB of data for just a couple of dollars," says Shah. "And in that sense, once you have cheaper data and a smartphone, you're going to consume more content." Reuters Unlike the West, Indian smartphone adoption is still growing in the double digits as people buy their first internet-connected device. "More and more people are using smartphones as their first device, unlike developed markets where the PC is the first device," says Shah. This is significant. According to Pew Research, <a href="https://www.pewinternet.org/fact-sheet/mobile/">around 81% of Americans own a smartphone</a>, meaning there isn't much room to grow. The smartphone probably isn't their first internet-connected device either. Most consumers outside of India won't have really noticed what this means for the wider internet, but one incident really put the Jio effect on the map: this year's battle between Indian record label T-Series and Swedish vlogger PewDiePie to become most-subscribed YouTube channel. Getty PewDiePie, also known as Felix Kjellberg. T-Series is a long-established Indian record label, producing music videos in various Indian languages as well as highly successful blockbuster films, all targeted at the home market. PewDiePie, by contrast, is a 29-year-old gaming vlogger and representative of a specific Western YouTube demographic - the self-referential, meme-loving, and occasionally offensive gamer. Up until March 2018, PewDiePie, real name Felix Kjellberg, was by the far the most popular YouTuber and inspiration for hundreds of other smaller creators who riffed off his offbeat humour and occasionally tasteless pranks. Read more: <a href="https://www.businessinsider.com/t-series-interview-how-beat-pewdiepie-youtube-2019-8?r=US&amp;IR=T">How T-Series went from making cassette tapes to dethroning PewDiePie and becoming the biggest channel on YouTube</a> But the cumulative impact of millions of Indians discovering their favourite Bollywood music on YouTube kicked in, and T-Series became the most popular YouTube channel. It has cemented its lead five months on, with 108 million subscribers versus PewDiePie's 98 million. Because cheap bandwidth is essentially unlimited, Indians are treating YouTube as their de facto streaming service, according to Shah. With access to the internet for the first time, they're turning to YouTube to find their favourite Indian language songs. "Most users have warmed up to YouTube to consume content, not just video, but music," he says. "They are going to YouTube rather than Spotify. People like T-Series or Star Network are seeing growth in video as well as music content." Neeraj Kalyan, president of T-Series, told Business Insider: "The recent growth of internet in India has increased the consumption of Indian content and, because of the decreased data costs, increase internet penetration, and higher bandwidth, this has been a real catalyst. "In 2016, there was mobile internet available in tier one or tier two cities, but now it's in tier three to tier five cities and villages, which had never experienced internet. So now the consumer is excited, and he's experimenting with everything, and it's resulted in an increase in consumption." It isn't just YouTube. India is now producing its own Silicon Valley-style internet giants, such as retail firm Flipkart - majority acquired by Walmart for $16 billion - online supermarket Grofers, payment firm Paytm, and Uber rival Ola. Stephen Lam/Reuters Indian prime minister Narendra Modi and Facebook CEO Mark Zuckerberg. Silicon Valley is also feeling the impact of the Jio effect. Facebook, for example, began talking about the Jio effect indirectly in late 2016. The firm first mentioned the impact of cheap data in India on its Q3 2016 earnings call when CFO Dave Wehner said: "We're seeing the introduction of low price data plans in markets like India and Mexico contributing [to user growth]." Facebook would continue to talk about the impact of India's "promotional free data plans" on its user growth in every subsequent earnings call for a year. And the firm has described India as its biggest growth market in every quarter since Q3 2016, according to call transcripts analysed by Business Insider. Google is also playing nice with Jio. Its CEO Sundar Pichai attended the wedding of Akash Ambani, son of Reliance chairman Mukesh Ambani, earlier this year. And the firm has been flagging the <a href="https://abc.xyz/investor/static/pdf/2017_Q1_Earnings_Transcript.pdf?cache=91f0790">massive growth in Indian Android users</a> since early 2017, not long after the launch of Reliance Jio. The firm said there more than 300 million new Android users from markets such as India and Brazil. <a href="https://abc.xyz/investor/static/pdf/2019_Q1_Earnings_Transcript.pdf?cache=ebdc584">At the beginning of this year</a>, the firm said India was the fastest-growing market for YouTube. Its companion app, YouTube Music, had more than 15 million downloads. <h3>NOW WATCH: <a href="https://www.businessinsider.com/what-is-meteor-shower-perseids-orionids-leonids-2018-8">A spectacular meteor shower is coming - here's what you're actually seeing</a></h3> <pre style="display: none;">function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</pre>

How the 'Jio effect' brought millions of Indians online and is reshaping Silicon Valley and the internet

<ul><li>In the last one year, Reliance <keyword id="2003276" type="General" weightage="100" keywordseo="jio" source="Orion">Jio</keyword>’s dealer commissions bill went up by a massive 87%, as per a Jeffries report. </li><li>The commissions can only grow in the coming years as <keyword id="4056036" type="General" weightage="50" keywordseo="jio-fiber" source="Orion">Jio Fiber</keyword> plans to increase its customer base from six million to 20 million. </li><li>Even as its network costs also increased, in terms of tower rentals and repair costs, Jio’s costs are much lower than that of its peers. </li></ul>Seven years after launching its services and three years after it launched its premium Jio Fibre services, Reliance Jio has opened its purse strings to its dealers and sales channels. In the last one year, according to a Jeffries report, its dealer commissions bill went up by a massive 87%, and this momentum is likely to continue for the next year too. “This was possibly due to continued scale-up of home-broadband and rise in commission intensity. Jio's dealer commissions at 3.4% of sales are now in line with that of peers,” the report said. However, its biggest dealer is Reliance Retail with over 12,000 stores across India. The commissions that the retailer earned is to the tune of ₹2,580 crore in FY22. Its overall sales and distribution expenses declined 6% despite a 34% rise in gross subscriber additions during FY22, annually. However, the commissions and channel expenses might grow as it’s hoping for a massive growth in these connections. <div type="Article" hostid="261" msid="93432238" title="Mukesh Ambani is all set to do a ‘Jio’ with green energy" mstype="2" mssubtype="0"></div> Jio Fiber has a little over six million customers and has set a target to grow it to 20 million. But these commissions increase will not change the carefully curated economics of Jio’s operations even as its capex is all set to increase and free-cash flows are affected, after it bought fresh 5G spectrum. <cmsannotation type="cmsannotation" annotationid="Tower costs, rentals lower" comment="subhead" text="Tower costs, rentals lower">Tower costs, rentals lower</cmsannotation> The network costs of Jio too went up by 13% year on year, driven by fiber usage charges and power and fuel costs. Its revenues grew at a sharper pace than these costs. “Given the rising gap in the revenues booked by the fiber company and costs recognised by Reliance Jio Infocomm, these costs are likely to grow at a rapid pace in FY23 as well,” Jeffries said. In terms of most other costs, Jio runs a tight operation as compared to its peers. According to a Jefferies report, Reliance Jio’s average rent cost per tower is 30-40% lower than its rivals. Even repairs and maintenance costs of these towers is half of what Airtel and Vodafone Idea pay, and the report says this is because of the newer network technologies used by Jio. <div type="Article" hostid="261" msid="93516727" title="Jio vs Airtel: Which one will offer faster and more reliable 5G services?" mstype="2" mssubtype="0"></div> In the year under review, the fuel costs of Jio’s sites rose by 14%. “This is largely in line with that for Bharti Airtel and Vodafone Idea. Repair and maintenance costs grew 57% year on year. Even after this rise, Jio's repair and maintenance costs per site remained 50% lower than peers, mainly due to a much newer network,” the report said. This is one part of the economics of Jio’s strategy that allows it to remain the most competitive player in the market, in spite of its recent 5G spectrum purchase bill that was twice what Airtel paid for. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/jio-airtel-could-emerge-stronger-weaking-vodafone-idea-further-say-analysts/articleshow/93499353.cms">Jio, Airtel could emerge stronger weakening Vodafone Idea further, say analysts</a> <a href="https://www.businessinsider.in/business/telecom/news/jio-vs-airtel-which-one-will-offer-faster-and-more-reliable-5g-services/articleshow/93516727.cms">Jio vs Airtel: Which one will offer faster and more reliable 5G services?</a> <a href="https://www.businessinsider.in/business/news/mukesh-ambani-is-all-set-to-do-a-jio-with-green-energy/articleshow/93432238.cms">Mukesh Ambani is all set to do a ‘Jio’ with green energy</a>

The economics behind Reliance Jio’s operations

<ul><li>After the 42nd <keyword id="6355199" type="ORGANIZATION" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> Limited (RIL) Annual General meeting yesterday, the company's stocks at trading at an 11% high today.</li><li>Chairman of RIL, <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, announced the upcoming launch of <keyword id="4056036" type="PERSON" weightage="20" keywordseo="Jio-Fiber">Jio Fiber</keyword> and its many features which has left its competitors in a lurch.</li><li>As a result, companies like Airtel, Tata Communications, PVR cinemas and Vodafone Idea are trading in the red.</li></ul>Reliance Industries Limited (RIL) saw the biggest intraday rise in its share price today driving shares up by 12% and taking the benchmark indices like Sensex and Nifty along with it. Nearly half of all stocks on these indices are in red but heavyweight Reliance alone has managed to keep mood afloat. The spike in RIL's share price has put it back in the race of becoming the highest valued Indian company trailing behind Tata Consultancy Services (TCS) by $1 billion. However, RIL's gains have come at a huge loss for many of its competitors in many different sectors. <a href="https://www.businessinsider.in/highlights-of-mukesh-ambani-speech-at-reliance-industries-agm/articleshow/70638299.cms">Chairman Mukesh Ambani's speech</a> laid out his vision for the company and <a href="https://www.businessinsider.in/reliance-jio-fired-up-as-mukesh-ambani-joins-hands-with-satya-nadellas-microsoft-to-challenge-jeff-bezos-in-india/articleshow/70641754.cms">every plan</a> of his came as a threat to one existing company or the other. Given its size, scale, its pile of cash and Ambani's deep pockets, anyone competing with Reliance Industries is expected to have a tough time. Jio Fibre, the frontier Ambani announced that <a href="https://www.businessinsider.in/reliance-jio-gigafiber-launch-heres-what-it-will-offer-consumers/articleshow/70630655.cms">Jio Fiber</a> will be launching commercially starting 5 September 2019 with plans that start at ₹700 with a minimum speed of 100 Mbps. Jio's competitors, Airtel and Vodafone Idea, are already feeling the pressure with their stocks taking a dip when the markets opened today morning. But both Airtel and Vodafone Idea have more to fear than just Jio Fibre. The Aramco energy Jio's mobile phone services has about 340 million subscribers as of now. Ambani is targeting to take this number to over 500 million over the next few months. That would mean Jio will remain an aggressive player in the market and that's bad news for other players like Airtel and Vodafone Idea. Given that RIL is getting additional cash from Aramco and BP, and if it becomes a zero net debt company by March 2021, the company of its size and scale will only have more money to muscle out other players with its aggressive pricing. Other telcos are already in deep trouble after having fought Jio in the market for nearly three years with higher discounts, funded by higher debt. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Stock </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Impact </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Airtel </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">-5.28% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Vodafone Idea </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">-6.54% </td></tr></tbody></table> Movie theaters feel the heat Ambani also announced that the Jio Fiber service will also include a feature called ‘<a href="https://www.businessinsider.in/reliance-jio-fired-up-as-mukesh-ambani-joins-hands-with-satya-nadellas-microsoft-to-challenge-jeff-bezos-in-india/articleshow/70641754.cms">First Day First Show</a>'. Essentially, you'll be able to watch a film at home, the same time as it releases in theaters. <a href="https://twitter.com/INOXMovies/status/1161139021994758145">Inox</a>, responded to Ambani's announcement by stating that multiplex owners have exclusive theatrical window of eight weeks before a movie can be released on any other platform. Something, they point out, that is followed internationally. "We strongly believe that Indian move watchers' love for cinema on giant screen is deep rooted and unshakeable," the company said. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Stock </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Impact </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">PVR </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">-4.10% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Inox Leisure Limited </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">-4.11% </td></tr></tbody></table> And, then there's television The Jio Fiber service will come bundled with a 4K LED television and a set top box for premium customers. Ambani also said that he will throw in OTT subscriptions at no additional cost. So, it's your OTT services, cable services and broadband along with new devices — all wrapped into one. That would dwarf the current offerings from companies like Tata Communications, the company behind Tata Sky, and Dish TV. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Stock </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Impact </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Tata Communications </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">-4.3% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Dish TV </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">-3.21% </td></tr></tbody></table> See also: <a href="https://www.businessinsider.in/The-Indian-rupee-is-falling-fast-and-there-are-both-winners-and-losers/articleshow/70652166.cms" style="">The Indian rupee is falling fast-- and there are both winners and losers</a> <a href="https://www.businessinsider.in/tech/mukesh-ambani-plans-to-connect-a-billion-devices-on-his-iot-platform-and-hes-not-only-talking-about-light-bulbs/articleshow/70643115.cms">Mukesh Ambani plans to connect a billion devices on his IoT platform — and he isn't only talking about light bulbs</a> <a href="https://www.businessinsider.in/highlights-of-mukesh-ambani-speech-at-reliance-industries-agm/articleshow/70638299.cms">Mukesh Ambani's speech at the Reliance Industries AGM had ten big takeaways</a> <a href="https://www.businessinsider.in/reliance-jio-fired-up-as-mukesh-ambani-joins-hands-with-satya-nadellas-microsoft-to-challenge-jeff-bezos-in-india/articleshow/70641754.cms">Reliance Jio fired up as Mukesh Ambani joins hands with Satya Nadella’s Microsoft to challenge Jeff Bezos in India</a>

The best day for Mukesh Ambani's Reliance Industries in a decade was a bad one for its rivals

<ul><li><keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword> has withdrawn two of its packs for ₹19 and ₹52.</li><li>The cheapest package now available from Jio is ₹98. </li><li>Airtel and Vodafone continue to have really cheap and affordable plans starting at ₹23 and ₹19 respectively.</li></ul>One of India’s leading telecom provider Reliance Jio has withdrawn its lowest packs for recharge <a href="https://telecom.economictimes.indiatimes.com/news/reliance-jio-withdraws-low-value-prepaid-packs-to-improve-arpu/71680239">worth</a> ₹19 and ₹52. Now, the cheapest package available from Jio is ₹98. The move comes right after Jio announced that it was moving away from its free unlimited calls offer and will now be charging 6 paise per minute for calls. Jio is making these changes to recover its average revenue per user or ARPU. This is the first time that the Mukesh Ambani-led telecom network is moving away from cheap mobile tariff plans which has been its USP since launch in 2016. This strategy has helped the newcomer and challenger gain over 300 million subscribers. At an annual general meeting in August, Ambani said that they are looking to target 500 million subscribers. However, the company also launched Jio Fibre last month which offers monthly and annual plans across price points, and this move could indicate that it eyeing a larger pie of internet consumers. Meanwhile, this is good news for Airtel and Vodafone. They continue to have really cheap and affordable plans starting at ₹23 and ₹19 respectively. In fact, in the Delhi NCR area, Vodafone continues to offer a pack for ₹19 which provide unlimited calls and data for 2 days. Since January 2019, Jio added 58.8 million users and now has around 348.2 million users. It overtook Airtel to become the second largest telecom provider in the country and needs 27 million more users to beat Vodafone and become India’s largest telecom network. See Also: <a href="https://www.businessinsider.in/business/news/mukesh-ambanis-jio-faces-backlash-for-tariff-increase/articleshow/71573757.cms">Reliance Jio is paying the price for being the ‘second SIM’ of choice</a>

Reliance Jio is now trading up as it drops its cheapest prepaid packs

<ul><li>Indian stock market indices opened in green on Friday.</li><li>The BSE Sensex was trading 0.87% higher at 38,551.15; while NSE Nifty was up 98.05 points at 11,410.25. </li><li>These are the top stocks that are buzzing the D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices, Sensex surged over 300 points in early trade on Friday led by gains in index-heavyweights HDFC Bank, Reliance Industries and Infosys amid strong cues from global markets. The BSE Sensex was trading 0.87% higher at 38,551.15; while NSE Nifty was up 98.05 points at 11,410.25. PowerGrid was the top gainer in the Sensex pack, rising around 3%, followed by SBI, HDFC Bank, IndusInd Bank, Axis Bank, Tata Steel, Reliance Industries and Infosys. On the other hand, Bharti Airtel was the sole laggard in early trade. These are the top stocks that are buzzing the D-street today. SBI gained nearly 3% <div type="image" title="SBI August 21" msid="77668593" hostid="261"></div> State Bank of India shares gained nearly 3% after <a href="https://www.bloombergquint.com/business/sbi-indias-largest-lender-readies-plan-for-restructuring-relief-to-retail-borrowers-or-exclusive">news reports surfaced </a>that the bank is finalising its plan to offer restructuring relief to retail borrowers. The banking regulator has already permitted lenders to do so. The restructuring plan will be designed strictly for retail or individual borrowers directly affected by COVID-19, the report added. Hindalco gained nearly 2% <div type="image" title="HIndalco August 21" msid="77668598" hostid="261"></div> Hindalco shares gained nearly 2% after the company signed an MoU with UltraTech Cement to deliver 1.2 million metric tonne of bauxite residue annually to the cement company’s 14 plants located across seven states. Wipro up over 1% <div type="image" title="Wipro August 21" msid="77668651" hostid="261"></div> Wipro shares were trading 1% higher on August 21 a day after the company set up a blockchain-based gas trading platform for Uniper Global Commodities SE. Future Enterprises gains 5% <div type="image" title="Future Enterprises August 20" msid="77668677" hostid="261"></div> Future Enterprises was trading 5% higher as<a href="https://www.business-standard.com/article/companies/future-enterprises-board-likely-to-discuss-merger-plan-on-saturday-120082100066_1.html"> reports suggest </a>that company is due to discuss the proposal to merge other listed group entities, such as Future Lifestyle, Future Retail, and Future Supply Chain Solutions, with itself on Saturday. SBI Life gains over 4% on Nifty inclusion <div type="image" title="SBI life August 20" msid="77668708" hostid="261"></div> Shares of SBI Life Insurance gained nearly 4% after the benchmark index Nifty50 said the company would be included from September 25 onwards. Jet Airways down over 1% after the company extends insolvency resolution <div type="image" title="Jet Airways August 21" msid="77668751" hostid="261"></div> Defunct airline Jet Airways’ shares fell over 1% after the deadline for completion of insolvency resolution process was extended for the fourth time due to the pandemic. “While the CoC (Committee of Creditors) and the RP are taking all necessary steps to expedite the insolvency process, it is difficult to exactly predict when it will be completed,” Resolution Professional for the airline, Ashish Chhawchharia, said in a letter to the employees. Rossari climbed over 4% <div type="image" title="Rossari August 21" msid="77668777" hostid="261"></div> Rossari shares climbed over 4% during the early trade hours on Friday. The company is slated to report its first-ever quarterly earnings since it listed on the Indian bourses last month. Reliance Industries shares gained nearly a percent during morning trade <div type="image" title="SBI" msid="77668832" hostid="261"></div> RIL opened 1% higher on August 20 after <a href="https://economictimes.indiatimes.com/tech/internet/saudi-arabias-public-investment-fund-looks-to-invest-up-to-1-billion-in-jios-fibre-assets/articleshow/77665968.cms">news reports surfaced</a> that the Saudi Arabia's Public Investment Fund (PIF) has initiated discussions with RIL on investing as much as $1 billion in Jio's fibre assets, adding to a stake purchase in Jio Platforms. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/facebook-asked-to-appear-before-parliamentary-panel-in-india-to-discuss-safeguarding-citizens-rights/articleshow/77666642.cms" data-type="tilCustomLink"> Facebook asked to appear before Parliamentary Panel in India to discuss 'safeguarding citizens' rights'</a> <a href="https://www.businessinsider.in/tech/apps/news/google-eyes-indias-sharechat-as-microsoft-goes-after-tiktok-in-the-us-heres-why-it-makes-sense/articleshow/77667345.cms" data-type="tilCustomLink">Google eyes India’s ShareChat as Microsoft goes after TikTok in the US — here’s why it makes sense</a>

Top stock movers on Dalal Street today— RIL, SBI, Infosys, Wipro, Future Enterprises, Rossari, Jet Airways and more

New Delhi, May 13 () Reliance Industries' proposed USD 7 billion rights issue, a string of equity deals of USD 8 billion in Jio Platforms, and USD 1 billion from a joint venture with BP plc will allow its leverage to improve, Fitch Ratings said on Wednesday. "The rights issue and equity deals when completed are likely to support an upgrade of RIL's long-term local-currency issuer default rating (IDR) of 'BBB', which is on a positive outlook," it said in a statement. RIL's long-term foreign-currency IDR (BBB-/Stable) is constrained by India's country ceiling of 'BBB-', it said. Fitch said the management of oil-to-telecom conglomerate is committed to achieving a net cash position by end-March 2021, which it could achieve sooner if it receives the required regulatory and other customary approval for the rights issue and equity deals in 2020. The company announced three equity deals in as many weeks, including USD 5.7 billion investment from Facebook Inc, USD 750 million from Silver Lake Partners and USD 1.5 billion from Vista Equity Partners, in Jio Platforms -- the holding company for its wireless and technology business. It also got USD 1 billion from selling 49 per cent stake in the auto fuel retailing business to BP plc. Also, the firm announced its first rights issue in three decades. Its billionaire promoter Mukesh Ambani and his family are committed to subscribe to full portion of their share, and also to the unsubscribed portion if any. "We forecast RIL to generate positive free cash flow in the financial year ending March 2021 (FY21), the first time since FY13, and its net leverage to fall to 1.8x from 2.2x in FY20," Fitch said. "Lower net leverage would result from higher earnings before interest, taxes, depreciation and amortization (EBITDA) generation from consumer businesses and lower capex intensity, despite the likelihood of coronavirus-related weakness in its refining and petrochemical segment." While its consumer-facing businesses will see growth, the firm's traditional oil refining and petrochemical business would face volume margin headwinds due to weakening demand, the rating agency said. RIL's consumer businesses are expected to be less affected by the coronavirus lockdown and social-distancing measures and is expected to contribute about 50 per cent of consolidated EBITDA in FY21 as compared to 35 per cent in 2019-20 fiscal. Also, the telecom business will benefit from higher data and voice consumptions during the lockdown and mitigate any impact of slower subscriber additions. Fitch expects Jio's average revenue per user to increase to Rs 147 in FY21, from Rs 131 in Q4FY20. It also saw Jio adding 30 million subscribers during FY21 against 80 million additions in FY20. Jio's fibre-to-the-home business should also start contributing to revenue and EBITDA in FY21, buoyed by strong demand for home broadband. RIL's retail segment revenue, excluding the digital-services business, is expected to rise by 10 per cent in FY21 against 15 per cent in FY20. Retail revenue would be affected by lower footfalls in its physical retail stores and lower spending on discretionary electronics and lifestyle products. However, the impact would be mitigated by higher grocery sales and also from its partnership with Facebook, which will allow users to buy goods and services using WhatsApp and Facebook Messenger, it said. ANZ DRR

Reliance Industries' slew of equity deals to drive improvement in Co rating: Fitch

<ul><li>Jio's plan to showcase new film releases on the same day will Big Bollywood producers, in addition to movie theatres. </li><li>According to experts, it could kickstart a war between Big Bollywood producers who might resist the change. </li><li>As producers spend ₹30 crores on production which does not include promotions and other costs, they expect returns to the tune of ₹50 crores over the weekend. </li></ul> On August 15 tomorrow, two big budget movies are releasing—<keyword id="1961443" type="PERSON" weightage="20" keywordseo="mission-mangal">Mission Mangal</keyword> and <keyword id="48974" type="ORGANIZATION" weightage="20" keywordseo="batla-house">Batla House</keyword>. On an average, Mission Mangal has 14 shows in each theatre, while Batla House has it in 12. Akshay Kumar, the protagonist of Mission Mangal claimed that the actual Mars mission by ISRO had a budget of ₹450 crore which is lower than ₹500 crore budget of his Robot 2.0 movie. This is how much Big Bollywood producers bet on their big budget movies. And, it is the first weekend collections are extremely key as the days of even a superhit movie running in the theatres for a month are long gone. Now, Reliance Jio is taking away this ‘premium’ too with its ‘First Day First Show’ plan. “The release of a big budget movie is an event which is done on a wide canvas. They will suffer the most while it could be good news for smaller films which can make money by selling digital rights. There could be a standoff,” Bharati Dubey, a film critic told Business Insider India. This, according to Dubey could kickstart a war between Big Bollywood producers who might resist the change. Unlike in Hollywood where Steven Spielberg <a href="https://www.businessinsider.in/Netflix-responds-to-Steven-Spielbergs-quest-to-boot-it-from-the-Oscars/articleshow/68260584.cms">tried to bar Netflix </a>from entering its original movies for Oscar awards, there has been no animosity between OTT platforms and movie producers here, so far. In fact, Amazon Prime Video is known for bringing many regional films onto its platform within a month of the release. A Telugu movie called Rangasthalam released in 2018, ran<a href="https://www.hindustantimes.com/regional-movies/rangasthalam-completes-50-days-at-theatres-emerges-as-one-of-the-biggest-grossers-of-2018/story-HDCixTqGKtd0KQEgW0s2uK.html"> for 50 days in theatres</a> even though it was streaming on the site. But not all movies might be just as lucky. When producers spend ₹30 crores on production which does not include promotions and other costs, they expect returns to the tune of ₹50 crores over the weekend. This is necessary for them to reach the ₹100 crore target in its short lifetime. Few producers can take the chance. Small and independent <a href="https://www.mid-day.com/articles/double-celebration-for-sohum-shah-starrer-tumbbad/20044161">movies like Tumbadd </a>which was a sleeper hit, have little to lose in terms of box office collections. And platforms like Jio etc will the makers reach a wider audience that may not go to the theatres to watch them. However, the big-budget blockbusters need people to throng to the theatres on the opening weekend to recover their investment. Parallel lines cross All was fine until movies had the first weekend premium. In fact, one of India’s successful directors Rohit Shetty said at FICCI Frames this February that the movie industry could co-exist with OTT platforms. “We had this debate even when VHS (tape player) and television came in and when movies were showcases within a few months. I think films and video streaming services like Zee5, Netflix and Hotstar are parallel worlds. Film theatres will not shut down because of them,” Shetty had said But Mukesh Ambani’s plan might change Shetty’s perception. He is offering this service not just as a part of a movie plan, but for those who opt for his premium Jio Fibre broadband service. It means that customers who enjoy high speed connections might get a new movie right onto their screens, without even asking. And that will kill the already dying shelf life of expensive movies made for the ‘big screen’.

Expect a Spielberg-Netflix kinda war in Bollywood after Reliance Jio’s ‘first day, first show’

<ul><li>The Reliance Industries AGM saw chairman <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> announce multiple plans across e-commerce, cloud and content. </li><li>In all three categories, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> has been ramping up its operations in India. </li><li>This will put Ambani and Bezos in direct competition, as both try to garner a bigger market share in India – one of the fastest growing internet economies in the world.</li></ul>It’s a fight for the finish in India’s internet industry and the two competitors are the world’s richest company Amazon and India’s richest conglomerate Reliance Industries. Brewing the fight are two masterminds – <keyword id="191583" type="PERSON" weightage="20" keywordseo="Jeff-Bezos">Jeff Bezos</keyword> and Mukesh Ambani – both of whom want a piece of the large pie that can arise from engaging India’s 500 million internet users. Globally, Amazon has managed to thwart every competitor – traditional or new in every other market. But, Bezos who calls Amazon “India’s apni dukaan” (India’s own shop), might not have it so easy. Indian billionaire Ambani is leaving no stone unturned to claim the Indian internet space. Amazon’s customer acquisition strategy runs across three verticals – e-commerce for the fast growing number of online shoppers, cloud for business owners and content platform for entertainment and video. And now, Jio has fired a salvo in every vertical that Amazon operates in. At the annual general meeting of Reliance Industries, Ambani demonstrated how he wants to take over each one of Amazon’s segments. Shopping for India’s internet users Ambani has interesting ammunition. For one, he has over 340 million customers for his telecom service. Added to that, he is planning to get more...around 500 million by providing fixed broadband service at every nook and corner of the country. Reliance Retail which is expected to launch its e-commerce offering by October, also showed a sneak peak into what they have in store for shoppers. Reliance's fibre customers will offer an immersive shopping experience using mixed reality (augmented reality and virtual reality combined). Ambani’s children Isha and Akash also demonstrated a shopping experience with Jio’s augmented reality advancements, where a 3D hologram of the user will help the shopper try on different colours of the garment. This is not good news for Amazon which holds 30% of the Indian e-commerce market, and has plans to grow. Amazon too has been experimenting with virtual reality. During the Prime Day sale, Amazon had set up virtual reality experience zones for consumers. But looks like Reliance will lure its existing fibre customers into its own shopping zones. Ambani also said that Reliance will offer end-to-end digital stack to "enable and empower" small merchants. Today, Amazon too launched The Amazon Marketplace Appstore in India, a platform created for sellers to discover trusted third-party applications that can help them automate, grow and manage their business. Building businesses on cloud One of Amazon’s biggest businesses is its Amazon Web Service finds clients with the bigwigs of the tech industry in the country who use its cloud services to build their businesses. AWS has also partnered with Wipro to set up co-innovation centres in India. Ambani has entered this business too. He joined hands with Microsoft. Satya Nadella made a surprise cameo at the AGM via video feed to announce Jio’s partnership with Microsoft Azure. “Jio will build new custom solutions on Microsoft Azure for large enterprises who have already benefited from our technology platforms. Companies will also have easy and affordable access to best-in-class technologies like data analytics, AI, cognitive services, blockchain, IoT and edge computing to accelerate India’s digital transformation and enable grassroots innovation,” said Microsoft. Prime vs Jio, Indian OTT’s new war Amazon’s content platform Prime Video launched in 2016 and has since then stirred up the OTT competition in India, moving up against Netflix, Hotstar among others. Prime Video has seen multiple original web content series from India like Made in Heaven, Inside Edge which have become big hits. And now, Jio has a strong strategy to disrupt the OTT space in India. Jio Fibre services will come bundled with ‘most-premium OTT applications’. Not only that, premium subscribers of Reliance Fibre will also be able to watch movies on the very same day they release in theatres, taking away Amazon Prime’s sweet spot. It is known to bring movies to its platform within a few weeks of release. See Also: <a href="https://www.businessinsider.in/highlights-of-mukesh-ambani-speech-at-reliance-industries-agm/articleshow/70638299.cms">Mukesh Ambani's speech at the Reliance Industries AGM had ten big takeaways</a>

Mukesh Ambani’s Reliance Jio is taking on Jeff Bezos’ Amazon in e-commerce, cloud, and content

<ul><li>RCom made an early bet on CDMA technology which went out of style, while Jio chose LTE technology of 4G. </li><li>Mukesh spent massively on country-wide fibre networks, yet he is cognizant of the risks that a massive debt at the group level.</li><li>The plan to list Reliance Retail and <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword> in the next five years will complete the circle of deleveraging giving his telecom venture a longer lifetime than RCom.</li></ul>It's been three years since Mukesh Ambani launched Jio, a business that is close to his heart. Moreso, this is the second time that he is launching a telecom venture, yet it is the first time he tasted success. His first telecom venture, <keyword id="46907" type="CITY" weightage="20" keywordseo="Reliance-communications">Reliance Communications</keyword>, was launched in early 2000s under the auspices of his father, the legendary Dhirubhai Ambani. Even before the business went to his brother as the Ambani family divided in 2004, the first venture was fraught with troubles. A bet on the wrong technology meant extra investments, which coincided with the global economic slowdown, and piled debt so high, the risks of which were ignored at its peril. Now, RCom is facing bankruptcy proceedings while Jio seems to be thriving. The only difference is Mukesh seems determined not to repeat the mistakes of the past, both his own and that of his brother, with Jio. CDMA- a technology that took its toll on finances RCom had early on bet on an obsolete-to-be technology, which became its undoing. In the early 2000s when Airtel and Hutch (later Vodafone) went with GSM technology, both Tata Teleservices and RCom went in for CDMA technology, which users did not fancy. "I doubt if that could be termed as a mistake as many countries were using the technology but the world just went another way," Alok Shende, Managing Director of Ascentius Insights, a management consulting firm tells Business Insider India. Years after RCom came under Anil Ambani, as <a href="https://www.indiatoday.in/business/india/story/ambani-vs-ambani-when-brothers-broke-up-150083-2011-12-27">Reliance Industries was divided </a>in 2004, he had to shift to the much-popular GSM technology. The shift required one more costly one-time investment in terms of network upgrade and spectrum; and the timing wasn’t right either. Mukesh Ambani has stepped with Jio, which started out on LTE technology of 4G. And he is not stopping at that. "Because of our early adoption of the ongoing enhancements to LTE technology our wireless network is already 4G PLUS. And we can upgrade this to 5G at minimum incremental cost," he promised his shareholders at his annual general meeting this month. <keyword id="4056036" type="PERSON" weightage="20" keywordseo="Jio-Fiber">Jio Fiber</keyword> cable will deliver high-speed Internet right to homes and this will kickstart yet another set of services without having to fork out extra for spectrum. The telecom tariff war and its many victims Jio is currently waging a bitter price war in the telecom market. However, it is nothing new. A raging telecom price war started by Tata Teleservices in 2008 with one paisa per second plan, had hurt many others <a href="https://www.livemint.com/Home-Page/vaUfK95QU2z2cInvqWBv2I/RCom-sets-1-paisa-SMS-fee-extends-the-tariff-war.html">including him</a>. However, the shift from CDMA to GSM soaked in a lot of fresh investment that RCom could have spent to survive the price war. There are times when investments are affected the broad economic conditions. RCom’s second round of investments was followed by a global credit crunch after the Lehman Brothers’ collapse in September 2008, which made debt expensive and business extremely difficult. Debt is not bad, high-cost debt is. What is worse is to binge on it. Jio too has piled on a massive debt in rolling out its services and burning cash offering discounts and ultra-cheap tariffs to lure over 330 million customers in the first three years of its operations. The tariff attack <a href="https://www.businessinsider.in/details-of-jio-fibre-new-tariff-plan/articleshow/70639942.cms">continues with Jio Fibre</a>, too as the company speeds to acquire 500 million subscribers, but there is a difference between the Ambani brothers. Clearing debts will clear the air of apprehension Mukesh spent massively on country-wide fibre networks and is bleeding his competitors. Yet, he is cognizant of the risks that a debt of ₹2.8 lakh crore at the group level poses. In a timely move, Reliance Industries (RIL) announced that it would sell 20% stake in its oil-to-chemicals business to Saudi Arabia’s state-owned Aramco, the world’s largest oil producer, for $15 billion. Not just that, he plans to turn RIL into a zero net debt conglomerate by March 2021. Within the telecom business too, he brought in Canadian fund Brookfields which invested ₹ 25,215 crore in the towers unit. The plan to list Reliance Retail and Reliance Jio in the next five years will complete the circle of deleveraging giving his telecom venture a longer lifetime than Anil’s RCom. "It is a very classic Reliance way of doing things which is vertically integrated model. And, the results will play out in the next 5-10 years," Shende said about Mukesh’s plan to retire debt early. It will allow Jio to focus on adding services, like it already plans to, and bring its A-game to the tight race in telecom with Airtel and Vodafone Idea. "Jio will look at massive dominance in many areas like entertainment, e-commerce, Internet Of Things and will get more aggressive," says Kunal Bajaj, a top telecom expert and consultant.

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