Commercially launched on 5th September 2016, Reliance Jio caused a lot of issues to be raised by various big Telecom industries. Defending his new business venture, Mukesh Ambani, speaking at a conference organised by The Print, replied saying Jio is not a gamble , but a well thought out and well-engineered business, being ragged by the big boys of the same industry.
“We had announced this at Digital India that it is a Rs. 250,000 crore investment now, that we are taking very seriously”, he said, adding that firstly the company must provide value to the consumers beyond just making money, and fulfil its duty to the shareholders to increase the stock value.
The idea for Jio was conceived five years ago after Isha Ambani complained that the Internet connections at home were really bad. Jio had brought about an opportunity for all incumbent operators to work together and take the nation to the next level of digital revolution, Ambani said.
