India’s biggest conglomerate Reliance Industries is zeroing in on the market of broadband internet, this was announced by the company’s owner, India’s richest man, Mukesh Ambani at a gathering of investors in Mumbai. Reliance, which had earlier turned the country’s mobile market upside down by offering free voice calls to customers for life, now plans to roll out fiber broadband across 1,100 Indian cities.
“We will now extend fiber connectivity to homes, merchants, small and medium enterprises and large enterprises simultaneously,” Ambani told shareholders at Reliance’s annual general meeting. “While India has pole-vaulted into global leadership in the mobile broadband space we still lag behind significantly in fixed-line broadband. Jio is determined to move India to among the top 5 in fixed-line broadband, too,” he said.
Earlier, Reliance had sparked a price war and a rush to consolidation in India’s telecoms market when it launched its Jio network in September 2016 by offering vastly cheaper tariffs and data plans.