India's richest man Mukesh Ambani is not yet done on Reliance Jio. Mukesh Ambani already invested around $25 Billion on the 4G network. Ambani is again getting ready to invest additional $4.4 Billion to improve the network capacity and boost the coverage.
Reliance Jio is adding 6 lakh customers daily and as of December, the telecom company had 72.4 million customers. According to Assocham, the customer base of Reliance Jio would reach 100 million in 2017.
The fresh round of investment by Mukesh Ambani would helo Jio to challenge the competitors with free Voice calls for the lifetime and free data till March 2017. Vodafone IN and Bharti Airtel are repeatedly complaining about Jio's freebies offering and said that these are killing the industry.
Reliance Industries wanted to diversify its industry portfolio and wanted to generate revenue from the diversified sources. Currently, Reliance 98% of the revenue comes from oil and petrochemicals.
Bharti Airtel has accused Telecom Authority of India (TRAI) of standing as a mute spectator about Reliance Jio free offerings. Bharti Airtel reported that these are not good for the industry as it is killing the competition.
Reliance Jio is also betting big on the Digitisation move by Narendra Modi. India witnessed 43% increase in digital transactions to reach 958 million transactions after November. It is expected that the value of digital transactions would reach to $1 Trillion in next 3-4 years.
Reliance Jio having already invested in building the network, the company will use fresh round of investment in customer acquisition and bring the network to the last mile
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