He also announced that the company is launching Jio GigaFiber, Jio's fixed line broadband.
One of the biggest highlights of today's Jio announcements is the Jio GigaFiber broadband service.
Reliance Industries Chairman further stated that Reliance is India's largest payer of Goods and Services Tax (GST), Excise and Customs Duty, and Income Tax in the private sector. The new JioPhone 2, however, features a QWERTY keypad with a 4-way navigation key, similar to older BlackBerry handsets. It will be an interconnected network for Internet, TV, Voice, and Home platforms.
While explaining the broadband for large enterprises, Ambani said that fixed-line broadband will mean having the ability to compete in the global marketplace, using digital tools and techniques that are powering the fourth industrial revolution.
The fixed-line broadband will offer "ultra-high-definition entertainment on large screen TVs, multi-party video conferencing from your living room, voice-activated virtual assistants, virtual reality gaming, digital shopping, immersive experiences", said Ambani, India's richest man.
The company also said it would launch JioPhone2 on August 15. Jio GigaFiber FTTH services will be made available in 1100 cities in the country, although there was no specific time frame given for launch.
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"From here onwards, it will depend on the profitability of Jio", said a fund manager, whose mutual fund owns Reliance shares.
Billionaire Mukesh Ambani's Reliance Jio has doubled its customer base to more than 215 million customers in one year from the earlier 123 million. These routers are able to offer download and upload speeds at Gbps.
The company said that the connection speed will be 1Gbps, the same as Google Fiber in the U.S., and ACT Broadband and Spectra's offering in some Indian cities. The device, named JioPhone2, will also be available from August 15.
Smart home solutions such as real-time surveillance and security solutions for homes and enterprises will ride on the fiber network, which will potentially connect 50 million homes, Ambani told shareholders at the AGM.
To complete a smart home setup, Reliance Jio will also be offering a range of Jio Smart Home Accessories like Door Sensor, Smart Plugs, Smart Speakers, Smart Doorbells, and more.