Topic: Reliance Jio

Ambani's wealth overtook Ma's after the surge in Reliance's share prices.

Outlining the plan at RIL AGM, Mukesh Ambani says the effort will involve the group’s Reliance Retail and Reliance Jio.

Reliance Industries Ltd. has struck at least 12 deals with an estimated tab of about 289 billion rupees over the last 12 months.

When it posted results for July through September last year, Jio’s operating earnings were $220 million. Overall, it had a loss of $41 million, and subscriber numbers were growing 12 percent a quarter.  But, Jio packed six months of sales into one quarter while counting only 3 months of expenses. 

We have the broad framework ready. It will be forward-looking, focus on sustainable growth and ease of doing business

The industry is complaining bitterly but consumers are too busy watching movies on their phones to pay much attention.

There is no doubt that Mukesh Ambani’s entry into the telecom business has engineered a massive public benefit. But proper customer service can be provided only by a healthy industry.