Reliance Jio to invest Rs. 250,000 crore in digital space

By September 4th, 2016 AT 2:15 AM

Alongside the announcement on Reliance Jio, Mukesh Ambani also said that the company plans to make an investment of Rs. 250,000 crore in India’s digital space. This definitely includes the wireless broadband infrastructure and manufacturing of mobile handsets.

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“We at Reliance will invest over Rs. 250,000 crores across the Digital India pillars,” he said.

Ambani elaborated on the investment, saying that the asset will be used to create infrastructure for all-IP next-generation, wireless broadband infrastructure across all the 29 states in India. The company will establish a distribution network of 150,000+ electronic retailers to sell smartphones and internet services. According to his estimation, this will create an employment opportunity for 5 lakhs people.

Jio is working with leading device manufacturers encouraging them to make smartphones and Internet devices in India at an affordable price. We will give them an assured offtake through our retail system,” he continued. The firm will partner with Central and State Government in sectors such as e-governance, digital education, digital healthcare, smart cities and rural digital services.

Regarding the Fund announced for entrepreneurs, Ambani said, “Our intent is to provide a platform for young Indians who what to create digital businesses of the future.” He dedicated Reliance’s internet efforts to Make in India initiative of the Government.

“It is my conviction, Prime Minister, under your leadership, the Digital India initiative will create a partnership among all sections of society… a partnership that will leverage the power of 1.2 billion Indians. A partnership built on the ability and industry of all our citizens,” he said.

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