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

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

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.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

Reliance Jio to Bring 5G services to Every Indian by December 2023

The largest telecom company in the country, Reliance Jio, has said that by December 2023, it will offer ultra-high-speed internet connectivity to the whole of India. Recently, Reliance Industries Chairman Mukesh Ambani stated that while India may have delayed in introducing 5G services, it will lead the way by spreading out the 5G service nationwide. At the India Mobile Congress (IMC) meeting, he stated:

“Today, I want to
reiterate Jio’s commitment to deliver 5G to every town, every taluka, and every
tehsil of our country by December 2023.”

At the annual shareholder
meeting of his company, Reliance Industries Ltd., Ambani stated that by Diwali,
5G services would be available in Delhi, Bombay, Kolkata, and Chennai. He added
that since the majority of Jio’s 5G was built in India, it bears the seal of
“Atmanirbhar Bharat,” and that 5G and 5G networks’ digital solutions
can make access to high-quality, reasonably priced skills and education development
possible for ordinary India

He stated that 5G can deliver high-quality healthcare to rural and isolated places by transforming current healthcare facilities into smart hospitals without requiring a large additional investment. It will make the best doctors’ services digitally accessible anywhere in India, enhancing the speed and accuracy of diagnostics, and enabling real-time clinical decision-making.

By increasing the digitization and smart data management of the agriculture, industry, trade, informal, services sector, transport, and power infrastructure, he claimed that 5G can also close the gap between rural and urban India.

Speaking at the event, Ambani asserted that by leveraging demographic trends and digital technologies, India can become the top digital society in the world, fulfilling the twin objectives of speeding growth and promoting inclusive development. Through this by 2047, India’s GDP would grow to $40 trillion from its current $3 trillion value, and its per capita income would rise quickly to over $20,000 from its current $2,000 value.

Ambani also that 5G is far more than simply the next level of communication technology. 5G offers foundational tech that opens the maximum potential of other revolutionary technologies including artificial intelligence, the IoT, robotics, cryptocurrency, and the metaverse.

On October 1, Prime Minister Narendra Modi formally introduced 5G services in India during the 6th India Mobile Congress at Delhi’s Pragati Maidan. Fast-speed internet connectivity with low delay is projected to be offered through 5G services, altering the existing data landscape.

5G services will provide high data rates, low latency, and a very reliable communications infrastructure. 5G services will improve energy, spectrum, and network efficiency. Millions of IoT devices will be connected with the help of 5G technology, which will also enable the delivery of vital services and higher-quality mobile video services.

Precision agriculture, real-time disaster monitoring, and reducing human involvement in risky industrial activities like deep mining and offshore work will be made possible by 5G.

To build out its network, Jio is expending over Rs 2 trillion. In the most recent auction, Jio purchased 24,740 MHz of spectrum in a number of bands. In the 5G spectrum auction, Reliance Industries’ Jio came out on top as the biggest spender, securing frequencies worth $11 billion to expand its wireless network throughout the world’s second-largest mobile market i.e India.

Reliance Jio entered the telecom market in September 2016 by giving out free calls and incredibly inexpensive data, compelling the competitors to either catch up or go out of business. With more than 42.62 crore customers, Reliance Jio is the largest network mobile network in India and the world’s third biggest network operator.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

Reliance set to launch JioMarket, Govt looks to table new data bill soon.

Leave a Comment / News, Tech News / By Suhani Jain

The Government is looking to table a brand-new bill in the upcoming parliament winter session or practically in the approaching budget session confirmed by senior government officials, after retreating from the former version of the bill on data protection. However, policy experts reprimanded the unending delays in passing a much-needed data law. Reliance Industries has initiated direct-to-consumer brands and onboarding independent sellers for its distinct marketplace platform. It would be known as JioMarket.

This letter includes:

Reliance Jio initiates roping in sellers for business in the marketplace.
Cloudtail opposes the validity of CCI raids.
IT firms are FY23 fresher hiring estimates.

Govt Looks To Table New Data Bill Soon

The timeframe for public discussions on the new data bill could be declared by the end of August. The ministry of electronics and IT is at an advanced stage with the draft of the comprehensive framework stated by a senior officer.

The government is considering three aspects that will establish the new legislation – the national data governance framework, the new bill on data protection, and the new IT Act.

The previous version of the bill was withdrawn due to its outdated ways. That’s why officials are looking to conclude the new data bill.

One of the officials stated that since one of the three aspects, the framework for national data governance, which accords with supervising data that is non-personal- is nearly ready, with the public discussions completed on its draft, the other aspects are currently, left to be concluded.

The other government officials said the future budget session could be a more “ realistic target” considering the data bill will need extensive industry discussion and meticulous drafting.

Privacy and policy specialists who had labeled the previous bill as debatable have stated the new bill should be flexible with the judgement of puttaswamy, which made privacy an elemental right while engraving drafting.

“It has been close to 10 years since the AP Shah committee report on privacy, five years since the Puttaswamy judgement, and four years since the Srikrishna committee report (on privacy legislation),” said Apar Gupta, executive director at Internet Freedom Foundation.

“They all signal urgency for a data protection law and surveillance reforms. Each day lost causes more injury and harm… It’s not about getting a perfect law, but any law at this point.”
Source: economictimes.indiatimes.com

Reliance Set To Launch JioMarket

Reliance Industries has initiated direct-to-consumer brands and onboarding independent sellers for its distinct marketplace platform. It would be known as JioMarket.

It is decided to uncover Jiomarket in the upcoming weeks so that it can initiate operating it during the launching and a presence of about 30,000 pin codes, said one of the sources.

The corporation has disclosed messages with merchants it is searching to onboard, which ET has rechecked.

“With this, Reliance is aiming to disrupt the ecommerce marketplace ecosystem in the same way that Jio disrupted telecom or JioMart disrupted egrocery,” it said in the communication, asking vendors to fill a form to submit details for onboarding.
Source: economictimes.indiatimes.com

Amidst the others, it has also sought information on the prime-selling Amazon (SKUs) stokes keeping units from the traders who want to enter the marketplace.

The egrocery platform, JioMart is largely operated by Reliance Retail as a trader. It will operate as it is continuously.

Amazon Alumni Lead Effort

The prior Amazon executive Sandeep Varaganti is leading this marketplace business. He was chief of Prione Business Service provider in the past – the erstwhile joint venture between NR Narayana Murthy’s Catamaran Venture and Amazon. Prione was the parent company of Cloudtail which was one of the biggest sellers on Amazon, India Once.

Another former Amazon executive, Samir Ratanajnkar, is also involved in creating JioMarket.

Suhani Jain

I am a student pursuing my bachelor’s in information technology. I have a interest in writing so, I am working a freelance content writer because I enjoy writing. I also write poetries. I believe in the quote by anne frank “paper has more patience than person

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

Leave a Comment / News, Tech News / By Suhani Jain

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.

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.

Suhani Jain

Reliance Jio emerged as the biggest bidder during Spectrum auction 2021 with Rs 57122. 65 crores

Leave a Comment / News, Tech News / By Annasha

The biggest bidder in the Spectrum auction 2021 was Reliance Jio with Rs 57,122.65 crores for 488. 35MHz spectrum (Gadgets 360). This information was conveyed by the Ministry of Telecommunications and Information Technology in a statement. Reliance Jio after the latest bidding witnessed that the company’s spectrum footprint increased by 55 percent. With the spectrum increased to 1711MHz, the operator became the largest spectrum holder in sub-GHz and 2300MHz. In the Spectrum auction 2021, Bharti Airtel emerged as the second-largest bidder after Jio acquiring 355.45MHz of airwaves worth Rs 18,698.75 crores.

Spectrum auction 2021 came to an end on 2nd March 2021. There were a total of six bidding rounds in Spectrum auction 2021 and the e-auction this time was based on Simultaneous Multiple Round Ascending Auction (SMRA) methodology. The total worth of bids fetched in Spectrum auction 2021 is Rs 77,814.80 crores for 855.60MHz. And, this time the auction went “better than expected” as mentioned by the auction officials.

Bidding in Spectrum auction 2021

The three main bidders in Spectrum auction 2021 that has put airwaves in 700MHz, 800MHz, 900MHz, 1800MHz, 2100MHz, and 2300MHz bands on bidding are Reliance Jio, Airtel, and Vodafone (Vi). The ministry also informed that there was no bidding for 700MHz and 2500MHz bands. The government put out a total spectrum of 2308.80MHz for auction. The bidders in a total bid for 855.60MHz spectrum which sums up to 60 percent of the total spectrum offered.

Reliance on bidding

The Spectrum auction 2021 was exclusively for the 4G bands and the government plans to throw another auction specifically for 5G bands. So, even if Jio has emerged out to be the largest bidder in this auction, the operator still needs to wait for the 5G bidding auction for its 5G services. Many other operators are also making progress in the 5G network technology as well.

Reliance Jio has mentioned in a statement that the company has acquired the right to use spectrum in 22 circles across the country in the recently concluded spectrum auctions (Gadgets 360). And, this acquired spectrum will be very beneficial for the 5G services that will be provided to the Jio users in the country for transactions in 5G. But, the latest Spectrum auction 2021 was all about 4G bands. Mukesh Ambani, Chairperson of Reliance Industries mentioned in a statement that with this increase in the spectrum, the company tends to expand its digital footprint in more parts of India and prepare for the 5G rollout.

Airtel expanding its spectrum

Airtel after becoming the second largest bidder in the auction mentioned that the company acquired 355.45MHz spectrum across sub-GHz, mid-band, and 2300MHz. This huge expansion in the spectrum will help Airtel bring around 90 million additional customers onboard. Gopal Vittal, CEO and MD of Indian and South Asia, Bharti Airtel said that the company now has a very solid spectrum portfolio and this will enable the operator to deliver the “best mobile broadband experience in India.”

Apart from mentioning the future plans of Airtel in India and its spectrum expansion, the operator explained why no bidders went for the 700MHz spectrum band. The main reason behind this is an absence of the economic case which is based on the high reserve prices concerning the 700MHz spectrum. This is a low-frequency band that is extensively used for bolstering inner cellular coverage.

The company also mentioned that the reserving prices, particularly on this band, should be a focus point of discussion in near future. Because, if this band is coupled with the 3.5GHz band it will unleash the potential of India becoming one of the nations in terms of the digital era. So, this is a very important issue that should be addressed by the government at the earliest as the nation will benefit hugely if these reserving price tags are taken off.

Apart from the bidding by Reliance Jio and Airtel, Vodafone was also one of the bidders. The company came last in the list with an 11.80MHz spectrum band worth Rs 1,993.40 crores. The government officials have mentioned that the spectrum of each operator will be valid for 20 years from now.

Annasha

Annasha Dey is an NIT student, who apart from studying engineering is also a content writer. She has a great interest in photography, writing, reading novels, and travelling as well. She is a foodie who loves socializing and hanging out with her friends. She is also a trained Kathak dancer and a big fashion enthusiast. Dey also loves watching TV series, which includes F.R.I.E.N.D.S. and Big Bang Theory. To be a better writer she prefers to read more

Reliance Jio to Host JioMart Gameathon Free Fire Esports Tournament from October 30

Leave a Comment / News, Tech News / By Annasha

Reliance is a multinational company mostly famous in the field of the oil industry. As one of the biggest conglomerates in Asia, Reliance is gradually expanding in the area of technology as well. To build digital India, Reliance is playing a big role by strengthening connectivity, collaborating with big tech giants like Qualcomm to bring a huge wave of technical revolution, investing in e-commerce, and the latest launching an online gaming event JioMart Gameathon starting this month. Online gaming events can bring huge publicity especially when the entire world is wrapping itself with the virtual mode of entertainment and communication.

This is the perfect timing for Reliance Jio to host an esports event while simultaneously working to launch a 5G-enabled smartphone. The first tournament of this Gameathon is called the Free Fire tournament and many more events will eventually follow this into the JioGames platform. The tournament will start from 30th October till 1st November.

The Free Fire tournament

The company will hold the Free Fire tournament and the following events on the JioGames platform which the company announced last year at the company’s 42nd Annual General Meeting. The JioGames platform was announced along with JioFiber set-top box. The app is still in its beta version available in Google Play Store. The three-day event of the Free Fire tournament will be live broadcasted on YouTube and JioTV. The news and updates related to the events are posted on a support page created especially for this tournament. This event also comes with lucrative cash prizes to lure as many audiences as possible. The first prize is worth Rs 16,000 which is followed by the runner-up prize money, that is, Rs 12,000 and Rs 1,000 for the most valuable player. The prize money will be credited in the JioMart’s wallet of the winners. This is also a very clever step as the prize money won will be spent on the company’s service itself. The first-ever gaming esports launched by JioMart is going to be a mobile-only tournament. So, buckle up and prepare for the game.

Registration for JioMart Gameathon

JioMart is reaching out to more people with the #GetSetGame for the first-ever Gameathon. The registration for the tournament has started from 26th October and it will open till the 29th of this month. You can register for the event through the JioGames portal. The Free Fire tournament is a four-stage competition where the qualifying stage will be held on 30th and 31st October at sharp 11 am. The qualifying round will be followed by quarter-finals scheduled for these two days from 11 am to 3 pm. The semi-finals will take place from 1 pm to 4 pm. The grand finale of the tournament will take place on 31st October, that is, Sunday from 5 pm to 8 pm.

Details about the tournament

You should hurry up for registration if you haven’t as a total number of 576 teams will enter the first stage (qualifying stage) of the tournament. The total number of teams will be divided between 48 lobbies. In the quarter-finals, the top two teams from each lobby will participate, which means 96 teams will compete to reach the semi-finals. In this stage, teams will be divided into 8 lobbies and the top three from each lobby will make it to the semi-finals. In the semi-finals, 24 teams will be competing with each other in two lobbies. Six participants from each lobby will make it to the grand finale. In the grand finale, there will be one single lobby and three maps will be played to declare the winners. The registration page of the tournament has every necessary detail from the scoring system to the general rules of the game.

Reliance Jio and Gaming

Mukesh Ambani has bigger plans for online gaming pushing the company deeper into the tech world. Apart from the oil industry, Reliance will emerge out as one of the successful tech giants of our country very soon. At the beginning of this year, Mukesh Ambani, in an interview with Satya Nadella, CEO of Microsoft, gaming has the potential to be bigger than any other aspects of entertainment put together. And, it seems like Reliance Jio has been marching in the direction to make it come true.