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Reliance Industries opens Jio unit in Estonia
Jio sets up a unit in Estonia called Jio Estonia OÜ.
There is no denying that Reliance Jio has become highly successful with its disruptive strategies. After conquering the telecom market segment in India, the telco has finally decided to step out of the country and establish its footsteps in global operations.
Back in May, there were reports that the telco is in plans to set up a company in Estonia. Now, RIIHL (Reliance Industrial Investments and Holdings Ltd. has set up the company and it is called Jio Estonia OÜ.
A few days back, RIL announced the incorporation of Jio Estonia and plans to engage in software development in Europe. As per a BSE filing, the Estonian firm will handle the software development and provide consultancy for the current and future technology initiatives pursued by group and subsidiaries.
As per the previous reports, RIIHL had given a loan of about Rs. 12.20 crore to its Estonian arm in order to establish its operations. As per the same, Mukesh Ambani, Chairman of RIL had met an Estonian government delegation with the intention of developing better e-governance solutions for India.
With this Estonian venture, Reliance Jio Infocomm, the telecom arm of the company can gain entry into the European markets, claim the reports. By setting up its unit in Estonia to work on new technologies, the company is expected to delve into thriving areas such as blockchain.
Reliance Jio recent achievements in India
Reliance Jio, which introduced its telecom services initially came up with several services later. The company recently has been in the headlines as its subscriber base increased to 20.8% in August from 19.6% in July this year. With this achievement, the telco is the third biggest on in the country in terms of the number of subscribers with 12.2 million subscribers.
It has also progressed to become an official service provider for Indian Railways. It is said that Jio will replace Airtel and become the service provider for the Railways from January 1, 2019. Following its 4G VoLTE service, the company came up with services such as the Jio GigaFiber FTTH broadband service. Last week, there were reports that Jio GigaFiber tops the Netflix ISP speed index for October in the country. Notably, it topped the chart even in September this year.