Indian billionaire Mukesh Ambani has disclosed a $25 billion plan to introduce 5G mobile internet services in India within two months.
On Monday, at Reliance’s annual general meeting, Ambani claimed the company’s 5G network will be the largest in the world once it is completely operational.
The service will be offered by Jio, the biggest mobile network in India and a subsidiary of Reliance.
According to Ambani, the high-speed network will be launched in big cities first, including New Delhi and Mumbai.
He claimed it would be extended to the whole of India by December 2023.
Ambani also said that Reliance was collaborating with US technology giant Google to create an “ultra-affordable” and low-cost 5G smartphone.
The announcement was made at a time when competition for control of India’s digital future is intensifying.
It is thought to be crucial to India’s aspirations to develop a $1 trillion digital economy.
Mukesh Ambani hopes to further reduce competition in both the retail and telecommunications sectors with his $25 billion commitment.
In the second phase of that strategy, Ambani’s Reliance and the US technological giant Meta, formerly known as Facebook, will join together.
Reliance will be able to expand its presence in the online retail market thanks to this partnership.
Additionally, Meta now has a stronger foothold in India because of its partnership with Reliance, a major player, and the availability of its services to all WhatsApp users.
They also intend to compete with and defeat online retail juggernauts like Amazon and Walmart-owned Flipkart using their combined firepower.
