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Mukesh Ambani

Mukesh Ambani: The Journey to Becoming India's Richest Man

Mukesh Ambani: The Journey to Becoming India’s Richest Man

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Mukesh Ambani, one of the world’s wealthiest individuals, was born on April 19, 1957, in Aden, Yemen. His father, Dhirubhai Ambani, founded Reliance Industries, which started as a small textile manufacturer and later evolved into a sprawling conglomerate. Mukesh’s early life was influenced by his father’s entrepreneurial spirit and vision. The family moved to India, where Mukesh pursued his education. He attended the Institute of Chemical Technology in Mumbai and later enrolled in an MBA program at Stanford University, although he left the program to help his father build Reliance.

Joining Reliance Industries

Mukesh Ambani: The Journey to Becoming India's Richest Man

Image Source: press.farm

In 1981, Mukesh joined Reliance Industries, which at that time was primarily focused on textiles and polyester fibers. His entry into the business marked a significant turning point. Mukesh’s strategic vision and innovative thinking led to the diversification of Reliance into petrochemicals, refining, oil and gas exploration, and telecommunications. His leadership played a crucial role in transforming the company into a global powerhouse.

Revolutionizing Telecommunications with Jio

One of Mukesh Ambani’s most notable achievements is the launch of Reliance Jio in 2016. The entry of Jio into the Indian telecommunications market revolutionized the industry by offering affordable data plans and free voice calls, making digital services accessible to millions. Jio’s aggressive pricing and innovative services disrupted the market, forcing competitors to lower their prices and improve their offerings. This bold move significantly increased internet penetration in India and positioned Reliance Jio as a dominant player in the sector.

Expansion into Retail and E-commerce

Under Mukesh Ambani’s leadership, Reliance Industries expanded its footprint into retail and e-commerce. Reliance Retail, launched in 2006, has grown to become India’s largest retailer, with a presence in diverse sectors including groceries, electronics, fashion, and lifestyle. In recent years, Mukesh has focused on building a robust e-commerce platform, leveraging Jio’s extensive digital infrastructure. The acquisition of various e-commerce businesses and partnerships with global giants like Facebook and Google have further strengthened Reliance’s position in the digital economy.

Vision for a Sustainable Future

Mukesh Ambani has also emphasized the importance of sustainability and renewable energy. Reliance Industries has made significant investments in green energy projects, including solar and hydrogen energy. Mukesh envisions a future where Reliance leads the transition to a cleaner, greener energy landscape. This commitment to sustainability is aligned with global efforts to combat climate change and reduce carbon emissions.

Also Read: The Inspirational Rise of Michael Bloomberg

Legacy and Impact

Mukesh Ambani’s success story is a testament to his visionary leadership, strategic acumen, and relentless pursuit of innovation. Under his guidance, Reliance Industries has not only achieved unprecedented growth but also contributed significantly to India’s economic development. His efforts in transforming the telecommunications, retail, and energy sectors have had a profound impact on the country’s socio-economic landscape. As Mukesh Ambani continues to steer Reliance towards new horizons, his legacy as one of the most influential business leaders of our time remains firmly established.

Ambani and Disney Merger Aims to Capture 50% of India's Streaming Market

Ambani and Disney Merger Aims to Capture 50% of India’s Streaming Market

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Indian media landscape undergoes seismic shift as Reliance Industries Ltd. and Walt Disney Co. merge to form an $8.5 billion media powerhouse.

Last month, Reliance Industries Ltd., headed by Indian billionaire Mukesh Ambani, shook the Indian media industry by announcing its acquisition of Disney’s India business. This strategic move has birthed an $8.5 billion media giant with a diverse portfolio ranging from film and television production to news and sports content. The merger is poised to reshape India’s streaming market landscape significantly.

Dominating the Streaming Scene

Ambani and Disney Merger Aims to Capture 50% of India's Streaming Market

Image Source: deccanherald.com

Before the merger, nearly half of India’s internet users were already engaging with streaming platforms owned by Reliance and Disney. According to data from Virginia-based analytics firm Comscore, in January alone, these platforms collectively attracted 243.5 million users, claiming an impressive 46.5% market share. Hotstar, Disney’s flagship streaming service, led the charge with over 114 million unique visitors, while Reliance’s JioCinema and JioTV collectively garnered more than 129 million visitors during the same period.

Cricket: The Winning Ticket

Streaming cricket has been a cornerstone of success for both Hotstar and Reliance’s platforms. Notably, the Reliance platforms experienced a significant surge in viewership between March and May 2023, fueled by their coverage of the Indian Premier League. Similarly, Hotstar’s viewership skyrocketed to 191 million visitors in November, primarily driven by its exclusive coverage of the Men’s Cricket World Cup. This emphasis on cricket content has solidified the platforms’ positions as leading players in the Indian streaming market.

Disruption and Competition

The Ambani-Disney merger is expected to have far-reaching implications for competitors and the broader media landscape. Netflix Inc. and Amazon.com Inc.’s Prime Video+miniTV, as well as local platforms like Times Internet’s MXPlayer and Zee Entertainment Ltd’s ZEE5, are likely to face intensified competition. Additionally, traditional linear TV broadcasters, such as Sun TV and Sony, may struggle to maintain market share in the face of this consolidation.

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Karan Taurani, Senior Vice President of Elara Securities India Pvt., noted in a recent research note that the merged entity will command a significant portion of India’s advertising market. This dominance could potentially squeeze out smaller players and reshape the advertising ecosystem.

In conclusion, the Ambani-Disney merger marks a pivotal moment in India’s media landscape. With an unparalleled content portfolio and vast resources at their disposal, the newly formed media giant is poised to capture a substantial share of the Indian streaming market, setting the stage for a new era of digital entertainment dominance.

Reliance Jio

Reliance Jio Top Bidder in 5G Spectrum Auction, Auction Ends With Over Rs 1.5 Lakh Crore.

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India’s largest ever auction of telecommunication spectrum recorded a 1.5 lakh crore worth of 5G spectrum bids. It was a 7-day auction that ended on Monday. Mukesh Ambani’s Jio reliance acquired nearly half of all the airwaves sold with an Rs. 88,078 crore Bid. 

“The auction has been completed and in the next few days, till August 12, all formalities incl approving and allocating, and taking upfront payments will be completed. It seems we would be able to launch 5G in the country by October”, said the Union telecom Minister. 

He said,” Government expect good nationwide 5G coverage in the next 2-3 years.

Source: www.livemint.com

The government introduced a total of ten bands in the spectrum but it did not collect any bids for airwaves in 600 MHz, 800 MHz, and 2300 MHz bands. some (two-thirds) of the bids were for the 5G 3300 MHz and 26 GHz bands whereas most (more than a quarter) of the demands were for the 700 MHz band. It is the band that was unsold in the previous auctions conducted in 2016 and 2021, surprisingly has a high demand in this auction which is being conducted in 2022. 

Reliance Jio
Image source: outlookindia.com

Mukesh
Ambani’s Reliance Jio will be the only telecommunication company to
offer 5G Internet connectivity using a 700Hz spectrum footprint. It
has acquired the 700 Hz and 800 Hz bands around twenty-two circles.
It will pay an amount of 7,877 crores per year throughout the next
twenty years with an interest rate of 7.2 % per annum. 

Jio’s 5G solution is made in India, by Indians and to suit the need of every Indian. Jio is fully ready for 5G rollout in the shortest period of time because of its nationwide fibre presence, all-IP network with no legacy infrastructure, indigenous 5G stack and strong global partnerships across the technology ecosystem,” Jio highlighted in its statement.

Source: www.news18.com

With its unmatched 700 MHz spectrum footprint, Jio will be the only operator providing pan-India True 5G services with faster speeds, lower latency and massive connectivity,” Jio said in its statement.

Source: www.news18.com

“We will celebrate ‘Azadi ka Amrit Mahotsav’ with a pan India 5G rollout. Jio is committed to offering world-class, affordable 5G and 5G-enabled services. We will provide services, platforms and solutions that will accelerate India’s digital revolution, especially in crucial sectors like Education, Healthcare, Agriculture, Manufacturing and e-Governance and make another proud contribution to Honourable Prime Minister’s DIGITAL INDIA MISSION”, said Chairman of Reliance Jio, Akash M Ambani. 

Source: www.news18.com

Reliance Jio has purchased a low-band, mid-band, and mm-Wave spectrum, which strengthens stable and constant internet connectivity with the deep fiber network and inventive and resourceful technology platforms for customers along with business providers. 

The
wrap-up from the 5G spectrum, capable of providing ultra-high speed
smartphone connectivity, is approximately double at Rs. 77,815 crores
worth 4G airwaves traded last year.

Gautam
Adani’s Group, who participated as a rival of Mukesh Ambani’s Jio
reliance, purchased a bid worth Rs. 212 Crore for 400 MHz, or less
than 1% of the whole sold spectrum. This band was not used for
providing public telecom services.  

The
Indian Government has traded up to 71% of the whole spectrum, making
Rs. 1,50,173 Crores. 

Along with offers to power ultra-low latency connections that allow a user to download full-length high-quality videos or movies to a smartphone in a flash even in crowded areas. 5G (fifth generation) would allow solutions such as e-health, deeply engaging augmented reality and metaverse experiences, connected devices, life-saving use cases, and innovative cloud gaming. 

Reliance Jio

Reliance Jio – Indian company that started the wave of the wireless 4G network all across India

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Everyone demands a faster network and in fact, it is the need of the present era. However, Reliance Jio started the wave of 4G in the Indian telecom market in 2016. With affordable prices and a faster network, Reliance Jio became much popular in India. In fact, it became India’s largest mobile operator as of 2019. As well, it is 3rd largest mobile network operator in the world. Presently, the firm has been covering more than 22 telecom circles, and about 38.75 million uses the Jio network. The firm has also launched fiber to home service recently in 2019.

All About Reliance Jio

An Indian telecommunication firm Reliance Jio is well-known all over the world. It is headquartered in Mumbai, India. The firm is known for introducing LTE network all across the country, covering more than 22 telecom circles. As well, the firm made use of voice over LTE to enable voice service on the 4G network.

In 2015, the firm launched Jio soft as a beta version. Initially, it was limited to employees and partners. While it was made public in 2016 and soon became a major mobile network operator in India. The firm also launched fiber to home service in 2019. With this, it enables services like home broadband, TV, and telephone services. Recently, the firm was in the news as it raised about 21 billion dollars in 2020. For this, Jio sold 32.97% equity stakes in the Jio platform.

The person behind Jio’s success- Mukesh Ambani

Mr. Mukesh Ambani, the head of the Reliance industry is one of the successful industrial leaders of India. This person not only maintains the name of Reliance but also grow the network of the business all over the world. One of such milestones led by Mr. Mukesh is Reliance Jio. Today, it became some of the most expansive 4G broadband wireless networks in the world. Apart from the business, he holds many prestigious memberships of international organizations. He is a member of the World Economic Forum’s Foundation board. As well, he is having the membership of the United States National Academy of Engineering.

History

Initially, the firm was registered with the name Infotel Broadband services Limited in 2007 at Ambawadi, Gujarat. After three years, the Reliance industry acquired IBSL with 95% stakes. At that time, the firm has already had 4G broadband spectrums in all 22 circles in India. Since then it is one of the subsidiaries of the Reliance industry. In 2013, the firm has entered the telecommunication market with the name Reliance Jio Infocomm Limited.

Reliance Jio
Image Source: counterpointresearch.com

Launching the 4G service for free

The firm launched 4G service in 2015. But initially, it was for an internal purpose, for employees and the office. However, it was made available for consumers in 2016. For almost one year, Jio offered free data and voice services which later on extended to March 2017. With this free offer, Jio has acquired a number of users, crossing the number of 1.6 crores. In just 83 days, the firm set the record by acquiring more than 50 million subscribers. As well, it also reached 100 million subscribers in a year.

Controversies

Just after it entered the consumer market, the Centre for Public Interest Litigation filed a PIL in SC against JIO. As per that PIL, the Indian government accused of granting a pan-India license to JIO. It also alleged JIO for taking additional fees for voice telephony with its 4G data service. However, the Supreme court revoked the PIL as the government and Jio explain the rules which they followed.

Products and services

The firm entered the market with 4G broadband service in 2016. As of 2018, the firm introduced Jio GigaFiber as well as broadband internet. As well, it launched television and landline service in the same year. On the third anniversary of Jio, it made a surprising announcement to offer streaming of films in theatre for JioFiber subscribers.  Currently, the firm covers the network of more than 250k km of fiber optic cables in India. By way of launching 4G all across India, Jio has started offering free wi-fi services in cities all across the nation.

Introducing JioPhone

In 2017, the JioPhone create a buzz in the mobile industry for its affordable price that actually works on the 4G network. Many consumers booked the JioPhone overnight and enjoyed the speed of 4G. With the huge popularity of the first model, the firm unveiled the second version of it in the following year. JioPhone became hit among mid-age persons as it is simple to use yet, comes with advanced features.  As well, Facebook, Whatsapp, and Youtube can be accessed easily on JioPhone.

Jio apps

Like the grand entry in 4G service, Jio launched a number of apps on Google Play. These apps are free and available in various segments. Like health, entertainment, Messaging, as well as apps for backups. Only one thing is needed to enter in Jio’s app world, i.e., Jio number. Some of the apps in the entertainment segment are JioCinema, JioTV, JioNews, JioSaavan, etc. For chat and video calls, the apps are JioPages, JioMeet. Other apps are JioHealth, JioMoney, JioVoice, MyJio, and many others that are available on the play store.

Mukesh Ambani

Reliance Finds a New Investor in the Mubadala Group

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Abu Dhabi-based firm Mubadala has just become the newest investor in India’s telecom giant, Reliance Jio. The firm joins five other American companies, including the likes of Facebook and Silver Lake, as partners to Reliance Jio. It is interesting to note that such high-stake deals are happening at the height of a global health pandemic. Read on to find out more about the agreement and what it means for India’s largest telecom operator.

New Player On the Block

Mubadala will invest almost $1.2 billion in Reliance Jio Platforms in exchange for a 1.85% equity stake in the firm. The deal sees the Indian giant gaining a valuation of close to $65 billion, which is huge as it launched only in 2016. Reliance Jio is a subsidiary of Reliance Industries, which is India’s most valued firm. Reliance has its heart in the petrochemical and oil refining business. Its telecom counterpart, Reliance Jio, has raised close to $11.5 billion by giving away a 19% stake within the last seven weeks.

What Mukesh Ambani Has to Say

Chairman and Managing Director of Reliance Industries, Mukesh Ambani, released a statement saying he is happy to have Mubadala on board. He explains that through his ties with Abu Dhabi, he has had the fortune of seeing the impact the company has had on the UAE economy. Mubadala, he claims work for diversifying and connecting UAE’s knowledge-driven economy to a global workforce. He goes further to say that the company is looking forward to making use of Mubadala’s experience and insights.

What the Investment Shows

This announcement, when coupled with the similar ones that came out in the last few weeks, shows just how eager foreign investors are to fund Jio. Most of these large corporations are looking to gain a slice of what is the world’s second-largest market for internet services. Furthermore, media reports have claimed that Amazon is looking to invest over $2 billion in Bharti Airtel, the country’s third-largest telecom operator. Meanwhile, Google is vying for a similar deal with Vodafone Idea, India’s second-largest telecom operator. India has a massive population of over 1.3 billion people and a huge market for internet and telecom service providers. Therefore, the country has grown to become a global battleground for both Silicon Valley and Chinese firms.

What Mubadala Has to Say

Managing Director and Chief Executive of Mubadala, Khaldoon Al Mubarak, said that watching Jio transform the communication sector in India inspired them to go for this deal. He also said that the company is committed to helping India move further along its digital journey. By partnering with Jio, Mubadala hopes to help the country further its digital economy development. Mubadala is a famous investor, with over $229 billion in assets. The company also has stakes in AMD, Alphabet’s Waymo, and SoftBank.

The infusion of this new capital will help Ambani, cut Reliance’s debt to zero. Reliance’s net debt runs to about $21 billion, and Ambani aims to cut this down to zero by 2021. Also, Reliance Industries has been hit by the global pandemic as its core business has suffered a 37% decrease in net profit. Both the oil refining and petrochemicals are seeing a slump due to the novel coronavirus, and this investment will be a breath of fresh air for the company.