Reliance Industries Limited held its 45th Annual General Meeting today, showcasing its various partnerships and plans for the years ahead. The company brought forth its plans to roll out 5G services in the near future. It also partnered with Meta, Google, and AirFiber to bring multiple services to its patrons. In case you missed it, we’re going to provide the key takeaways from the RIL AGM 2022. Moreover, the company announced that it became India’s first corporate body to cross a revenue of $100 billion in 2022’s fiscal year.
Let’s look at some of the essential points RIL made in today’s event!
There’s no doubt that India is a future hotspot for 5G services. Bearing this in mind, RIL promised an investment of $25 billion to introduce the nation to 5G. It also stated that by October 2022, the first rollout of 5G would commence. This rollout would cover major Indian cities, such as Kolkata, Delhi, Mumbai, and Chennai. The company also claimed that this would be the world’s fastest 5G rollout plan!
The next in line for an introduction is AirFiber, a 5G hotspot that doesn’t require the use of any cables. In fact, the services would be provided through a plug-and-play system, making it much easier to access 5G, regardless of whether you’re travelling, at home, or in the office.
Since cloud computing and services are becoming the norm, Jio will become one of the first companies in the country to introduce a virtual PC. This system would be called JioCloud PC and would use extensive 5G connections along with cloud databases to bring the power of multiple PCs to every home in the country. Users would only have to pay for how much they’ve used the JioCloud PC, without the need for constant updates or upgrades.
Meta, Google, Qualcomm
At the RIL AGM 2022, Reliance also announced its partnership with Meta to make immersive technology a reality for Indian households. Additionally, another partnership would be created with Google to develop affordable 5G smartphones. These smartphones would also make use of Google Cloud and Microsoft for Azure ecosystems to bring cloud-based apps and services to the smartphones. Furthermore, Qualcomm would aid Google and Meta in these endeavours.
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The major technological highlights of RIL AGM 2022 included the rollout of 5G, Reliance’s partnership with major companies, and the introduction of the JioCloud PC. Apart from this, other announcements were made at the event, which exhibited the company’s presence in multiple markets. These are:
- The investment of INR 75,000 crore into various petrochemicals and textile services and businesses.
- The Dhirubhai Ambani Internation School would be expanded through Jio Institute and the Nita Mukesh Ambani Junior School. This was announced by Isha Ambani.
- The production of natural gas from MJ Field would commence soon. This would increase the overall production of natural gas by two-thirds of the current amount.
- New revenue streams would be created through the O2C (oils to chemicals) business. Existing product lines would be expanded, and further developments would maximise the oils to chemicals conversion rate.
- This year, several new product lines were launched through Staples, Home, Personal Care, and General Merchandise categories. Developments such as this would create a good ecosystem for the WhatsApp-Jiomart partnership.
- Reliance Retail would also make a move in the fast moving consumer goods (FMCG) sector.
RIL AGM 2022 – Summing up
Reliance also activated a dedicated WhatsApp Chatbot for people to know more about the RIL AGM 2022. You can use the chatbot at 7977111111. All you need to do is save the number, send a simple “Hi” text, and you’ll receive all the significant updates. Regardless, we’ve provided all the key takeaways of this massive event in this article. Moreover, with the imminent rollout of 5G in India, there could be considerable changes to the smartphone and technological ecosystem in the country. Which aspect of the meeting are you excited about the most? Let us know about it in the comment section below!
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