He said: “We will induct global partners in Jio and Reliance Retail and will move towards listing these two entities in the next five years. We have a very clear roadmap to becoming a zero net debt company in next 18 months.”
The goal is for Jio GigaFiber to reach 20 million residences. Jio Fiber’s plans will be priced at Rs. 700- Rs. 10,000 per month. The most basic plans will start at 100 Mbps and go up to 1 Gbps. Jio broadband’s speed starts 100 Mbps and goes up to 1 Gbps. The pricing announcement is significant. Currently available in beta testing, GigaFiber customers paid up to Rs 4,500 as a security deposit for the router, with broadband internet up to 100GB free per month.
Ambani counted four principles on which his tariff would be based. The first is having simple and easy to understand tariff plans. The pricing of plans he said is less than 1/10th the global rates, to make it accessible for all. The aim is to suit every budget and every need. The second principle is that customers should pay for only one service, either voice or data. Not both. The third principle is to simplify the purchase and consumption of content. Today people pay for and keep track of multiple subscriptions to multiple applications just to watch movies and shows. This is both expensive and cumbersome.”
He added: “I am announcing that Jio Fiber plans will come bundled with subscriptions to most leading premium OTT applications”. He also announced a premium service for watching new movies. “Premium Jio Fiber customers will be able to watch movies in their living rooms the same day these movies are released in theatres! We call this Jio First-Day-First-Show. We plan to launch this service in the middle of 2020.”