In For nearly a year Indias largest corporate entity Reliance Industries Limited has been sitting on a pan-India spectrum for Broadband Wireless Access. Now the company has stated that they have started conceptualising the products and services in mobile broadband that will be offered to users. On the occasion of the 37th AGM, Mukesh Ambani, the Chairman and MD of the company, said, The services would be in the domain of education, healthcare, entertainment, financial services and government-citizen interfaces. Broadband and broadband-enabled digital services are the next big leap forward in the digital transformation of our knowledge economy.
Our digital services business seeks to embrace our societys diverse needs and aspirations by building flexibility, intelligence and extensibility into the core of our infrastructure. said Ambani.
In the year 2010, RIL had purchased 95 % stake in Infotel Broadband for Rs.4,800 crore. Infotel Broadband Services was the only company to win broadband spectrum in all 22 zones across India. At the time of Infotel acquisition, Mukesh Ambani had said, We foresee the creation and social value via the creation of a national, next generation broadband infrastructure. As of March 31 this year, RIL had cash and cash-equivalents of Rs 42,393 crore (USD 9.5 billion), which was nearly double of the reserves that the company had a year ago. The outstanding debt is Rs 67,397 crore (USD 15.1 billion) as of March 31, 2011, as against Rs 62,495 crore (USD 13.9 billion) a year ago.
RIL aims to usher in the 4G revolution in the country. The company has forged several strategic relations with a host of leading global technology players, service providers, infrastructure providers, application developers, device manufacturers and others. Last year, Mukesh Ambani had said, It will gather momentum and visibility in the coming years and Reliance will be at the forefront of bringing about this digital revolution. A revolution that will help India lead the world. Earlier this year, former senior executive of Star India, Jagdish Kumar, was appointed as the president of the media and entertainment division by RIL.
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