Mumbai: In a major development amid the chorus for an ‘Aatmanirbhar Bharat’ or self-reliant India, Reliance Industries (RIL) Chairman Mukesh Ambani on Wednesday announced that Reliance Jio has developed a complete 5G solution from scratch.
Jio will also partner Google to build an Android-based smartphone operating system that will bring down the cost of smartphones to a fraction of what it is today.
Nearly 70 per cent of the existing mobile subscribers continue to avail services based on the oldest mobile technology — 2G because they are unable to afford 4G-enabled smartphones.
“As India is standing at the doorsteps of the 5G era, we should accelerate the migration of 350 million Indians, who currently use a 2G feature phone, to an affordable smartphone. They should not be deprived of the benefits of the digital and data revolution. Jio is determined to make India 2G-mukt,” Ambani said at the virtual AGM to which over 5.5 lakh people logged in.
Google agreed to invest Rs 33,737 crore for a 7.7% stake in RIL’s technology venture and to cooperate on tech initiatives, including development of affordable smartphones, Ambani said. With Google coming on board, Reliance has completed its target of capital raising for Jio Platforms, he said.