Jio is a commitment of Rs.2,50,000 cr: Mukesh Ambani Mukesh Ambani recently called his encounter with incumbents over the points of interconnect as ‘ragging’ of a new comer, which both he and his firm were agreeing to bear but not at the cost of millions of subscribers. Just a day after Reliance Industries threatened Bharti Airtel, Idea Cellular and Vodafone of consequences, he stated that he was waiting to see if the ‘ragging’ would soon stop, he cited at an interaction set up by the media. Mukesh Ambani said that he didn't commit merely Rs.1,50,000 cr to his novel telecom venture, but the numerical figure was actually closer to Rs.2,50,000 cr. He said that the world had moved to the power of ideas and financial resources were the least of problems. He added that financial analysts who challenged the business case for Jio would soon be proved wrong. He further explained himself by saying that Jio was not a punt, it was a well thought out, engineered ecosystem. Financial markets had typically been wrong about technology companies, he cited examples of Apple and Google. Ambani said that they will prove all financial analysts wrong it was just a matter of the release of their quarter by quarter results. He also mentioned that along with his unshakable conviction, he had a whole board standing firm behind him. Ambani reiterated that Jio was working aggressively to produce high quality content in twelve (12) regional languages, and the lack of local content would come to an end by 2018-19. Ambani narrated that Jio was conceived when Isha Ambani complained of the slow Internet speed in the year 2010 and firmed when Akash spoke of it as a tireless business unlike telecom which was dependent on two-party conversation. In the digital world, individuals interact with the servers and thus are running and are being billed all the time as compared to a call, which only begins to tick when both the caller and recipient are online. Ambani said that just as electricity enhanced muscular ability to stir things mechanically, the digital transformation too had brought the world on the edge to enhance brain power.
Ambani also commented on the current Indian government stating that it was fortunate to have the guidance of Narendra Modi. Speaking on the ban on Pakistani artists in the Indian films, Mukesh Ambani said while he didn’t understand the politics around it, it was crystal clear to him that India was for Indians first. He concluded on a lighter note saying that he followed Arnab Goswami's news show and liked it.
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Article Written by Salman Hashmi