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Mukesh Ambani on Monday called his encounter with incumbents over the points of interconnect "ragging" of a new comer, which both he and his company were willing to bear but not at the cost of "millions of subscribers". Just a day after his flagship company Reliance Industries threatened Bharti Airtel, Vodafone and Idea Cellular of consequences, he said that he was watching to see if the "ragging" would soon stop, he said at an interaction set up by The Print.
Ambani said that he didn't commit just Rs 1,50,000 crore to his new telecom venture, but the figure was actually closer to Rs 2,50,000 crore. "The world has moved to the power of ideas. Financial resources are the least of problems," he said.
Financial analysts who have challenged the business case for Jio would be proven wrong, he said. "Jio is not a punt, it is a well thought out, engineered ecosystem." Financial markets have typically been wrong about technology companies, he pointed to the cases of Apple and Google. "We will prove all (financial analysts) wrong, just watch our quarter by quarter results," he said. "I am in a fortunate position of pursuing my conviction, with a board to stand behind me."
He reiterated that Jio was aggressively working to produce high quality content in 12 regional languages, and the dearth of local content would cease to exist by 2018-19.
Jio was conceived when Isha Ambani complained of Internet speed in 2010 and firmed when Akash spoke of it as an untiring business unlike telecom which is dependent on two-party conversation, narrated Ambani. In the digital world, individuals interact with servers and therefore are running and are being billed all the time compared with a call, which only starts to tick when both the caller and recipient come online.
Ambani said, just as electricity increased muscular ability to move things mechanically, the digital transformation has brought the world to the brink of the ability to augment brain power.
On the current Indian government Ambani said, "India was fortunate to have Narendra (Modi) Bhai's guidance." He said that the current rhetoric was swept with negativity and cynicism that "we owe to ourselves" to reverse. He further added that it has become nearly fashionable to be negative, but that was pulling the nation’s youth’s morale down. The government at the moment is sticking with the right thing to do irrespective of who it affects, he said citing the example of retaining the Adhaar card initiative from the previous regime.
Speaking on the ban on Pakistani artists in Indian films, Ambani said while he did not understand the politics around it, it was clear to him that "India is for Indians first."
In a lighter vein he said that at 9PM in the evening he followed Arnab Goswami's news show and liked it.
Jio is a commitment of Rs 2,50,000 crore, set to tap the consumption wave in India: Mukesh Ambani | ET Telecom
Ambani said that he didn't commit just Rs 1,50,000 crore to his new telecom venture, but the figure was actually closer to Rs 2,50,000 crore. "The world has moved to the power of ideas. Financial resources are the least of problems," he said.
Financial analysts who have challenged the business case for Jio would be proven wrong, he said. "Jio is not a punt, it is a well thought out, engineered ecosystem." Financial markets have typically been wrong about technology companies, he pointed to the cases of Apple and Google. "We will prove all (financial analysts) wrong, just watch our quarter by quarter results," he said. "I am in a fortunate position of pursuing my conviction, with a board to stand behind me."
He reiterated that Jio was aggressively working to produce high quality content in 12 regional languages, and the dearth of local content would cease to exist by 2018-19.
Jio was conceived when Isha Ambani complained of Internet speed in 2010 and firmed when Akash spoke of it as an untiring business unlike telecom which is dependent on two-party conversation, narrated Ambani. In the digital world, individuals interact with servers and therefore are running and are being billed all the time compared with a call, which only starts to tick when both the caller and recipient come online.
Ambani said, just as electricity increased muscular ability to move things mechanically, the digital transformation has brought the world to the brink of the ability to augment brain power.
On the current Indian government Ambani said, "India was fortunate to have Narendra (Modi) Bhai's guidance." He said that the current rhetoric was swept with negativity and cynicism that "we owe to ourselves" to reverse. He further added that it has become nearly fashionable to be negative, but that was pulling the nation’s youth’s morale down. The government at the moment is sticking with the right thing to do irrespective of who it affects, he said citing the example of retaining the Adhaar card initiative from the previous regime.
Speaking on the ban on Pakistani artists in Indian films, Ambani said while he did not understand the politics around it, it was clear to him that "India is for Indians first."
In a lighter vein he said that at 9PM in the evening he followed Arnab Goswami's news show and liked it.
Jio is a commitment of Rs 2,50,000 crore, set to tap the consumption wave in India: Mukesh Ambani | ET Telecom
