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Data must be controlled and owned by people: Mukesh Ambani
Jio's network is fully 5G ready and now telecom arm and retail division will launch a unique New Commerce platform
Reliance Industries Chairman Mukesh Ambani today said in this new world, data is the new oil.
"India's data must be controlled and owned by Indian people ─ and not by corporates, especially global corporation," Ambani said at the 9th Vibrant Gujarat Global Summit.
"For India to succeed in this data-driven revolution, we will have to migrate the control and ownership of Indian data back to India ─ in other words, Indian wealth back to every Indian," he added.
He informed that so far RIL has invested nearly Rs. 3 lakh crores in the state of Gujarat and created and catalyzed over one million livelihood opportunities in Gujarat. In comparison to the past decades, Reliance will double this investment and employment numbers over the next ten years, he further added.
Ambani said Jio's network is fully 5G ready and now telecom arm and retail division will launch a unique New Commerce platform to empower and enrich our 12 lakh small retailers and shopkeepers in Gujarat - which are part of over 3 crore community in India.
Jio is committed to create a fully Digital Gujarat and make Gujarat the best Digitally Connected State in India and today, Gujarat is the showcase for Jio's 4G wireless broadband network, RIL Chairman said.
Furthermore, Reliance Foundation will invest Rs 150 crore to make Pandit Deendayal University in Gujarat even stronger and an institution of international repute, he said.
Meanwhile, Jio reported has reported a jump of 65 percent in its net profit to Rs 831 crore during the December 2018 quarter, mainly on account of a rise in customer base. Its standalone revenue from operations of Rs.10,383 crore (12.4 percent QoQ growth). The company added 27.9 million (as against a previous four-quarter average of 28.4 million).