Jobaaj Stories
Billionaire Mukesh Ambani’s Reliance Industries held its 45th AGM meeting recently via video conferencing, and the following were some key takeaways from the meet:
-> Reliance Industries, the Oil-to-telecom conglomerate, has become the first Indian company to cross $100 billion in revenue in F.Y 2021-22.
-> Jio to launch 5G services by spending $25 billion with the first phase to roll out from the month of October covering the metropolitan cities of Mumbai, Chennai, Kolkata, and Delhi.
-> Jio announced the launch of a wireless plug-and-play personal WIFI hotspot, AirFiber, that doesn’t require fiber cables and is easy to carry and use anywhere.
-> “With no upfront investment or tension of periodical upgrading, a user needs to pay only to the extent used, resulting in a super-affordable way to bring the power of a PC, even multiple PCs, to every Indian home and business,” the company said on the launch of Virtual PC, JioCloud.
-> Also, it has entered into a newly entered partnership with Meta for immersive technology, with Google to develop ultra-affordable 5G smartphones, Microsoft for Azure ecosystem and cloud-enabled business applications and solutions; Intel for Cloud-scale data centers and Qualcomm to broaden their joint collaborations.
-> The company will invest Rs 75,000 crore in the petrochemicals and textile business.
-> Reliance Foundation led by Isha Ambani announced the launch of two institutions namely Jio Institute and Nita Mukesh Ambani Junior School as an expansion of Dhirubhai Ambani International School.
-> Reliance Industries will start the production of natural gas from MJ field which is the third and is going to be the last set of discoveries in the eastern offshore KG-D6 block. This production is expected to raise the overall output of natural gas by about two-thirds of capacity.
-> “The company will continue to invest in O2C business to expand capacities in existing product lines as well as to add new value chains with the aim to maximize oil-to-chemicals conversion and create integrated streams of value,” Ambani added in a comment
-> The retail arm of India's largest conglomerate, Reliance Industries, is set to expand its business head into the fast-moving consumer goods segment.
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