Saudi Aramco and BP investing in the company, Jio expanding its scope, and the group moving towards a zero net debt future were some of the highlights of Ambani's AGM speech on Monday. Global voice calling will also be available through the fixed-line, with one of the plans revealed to have unlimited calling to the U.S. and Canada for just ₹500 ($7) per month, though most families now utilize app-based free calling solutions such as WhatsApp. Unlike most other energy companies, Aramco's output is controlled by the state - the world's biggest oil exporter - and the royalties and taxes it pays underpin the Saudi economy.
All Jio Fiber plans in India will come with a free landline connection that will offer free voice calls across the country. From mid-2020, the premium Jio Giga Fiber customers will also get to watch new movies on the same day of its release, Ambani said. This should go live in mid-2020.
Microsoft's partnership with Jio is one of the latest additions to the list of large companies joining Azure. This should greatly reduce buffering and latency for OTT streaming apps.
Jio and Microsoft have entered into a long-term alliance to accelerate India's digital transformation to launch cloud datacenters.
Ambani said that Jio which has amassed over 340 million mobile subscribers in less than three years, is now ready to fire four new growth engines including Internet of Things (IoT) for the entire country, home and enterprise broadband services as well as broadband for SMEs.
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Jio Fiber users will have access to virtual reality content, multi=party video conferencing, voice-enabled virtual assistants, multiplayer gaming, home security and smart home solutions. The company is offering a HD/4K television set and 4K set top box for free as part of Jio Forever annual plans.
The company will also offer special mobility service for JioFiber users to deliver a platinum-grade service and product experience.
Reliance Industries chairman Mukesh Ambani on Monday, August 12 announced that Reliance Jio will launch Jio Fiber broadband internet service from September 5. Complete plan details for Jio Fiber will be made available closer to the commercial launch date.
Jio GigaFiber will be launching commercially on September 5th with four tariff plans on offer ranging between INR 700 to INR 10,000. Aramco signed a letter of intent to take a 20 per cent stake in Reliance's oil-to-chemicals business in one of the largest ever foreign investments in India, Reliance said.
Aramco's deals show how Riyadh wants to ensure it would be the last oil producer left standing when future demand for crude slows, officials say, and with a cost of production around US$4 a barrel, Aramco hardly has any competitors.