The corporate connect of the Indian startup ecosystem is nascent, but when it comes to Reliance, the connect is too close. Reliance’s annual general meeting referred to by some as “Indian budget” has got this moniker because of the breadth of the announcements. Some even refer to the AGM as India’s version of Apple Worldwide Developers Conference.
The AGM has much to cheer — Reliance becoming debt-free well before the target and Jio Platforms’ fundraise and more. Similarly, there is a lot of speculation on what may come now — from Google and Microsoft backing to the acquisition of Kishore Biyani’s Future Retail to new financial services to agritech plans.
Being at the centre of India’s broadening startup ecosystem, Jio has also acquired stakes in startups like Haptik, NowFloats, Tesseract, last year. But this year, the company’s acquisitions may come in healthtech, grocery delivery, etc as the pandemic changes business focus altogether.
Beyond the external products and services, Reliance is expected to appraise its investors about Jio Platforms’ revenue scale-up future plans, the roadmap for retail business — JioMart, update on JioFiber, Petrochemical business and more. Further, the company may also have a wider update about its 5G roll-out plans, as Jio had sought the telecom department’s permission to do lab testing of its in-house developed 5G products.
Beyond the game-changing announcements, Reliance is also hosting the AGM online for the first time, and has deployed its in-house product portfolio to smoothen the process — Haptik-developed WhatsApp chatbot to guide investors as well as AGM via JioMeet, its video conferencing solution. JioMeet got trolled on its launch, but with this AGM, it is bound to see massive downloads to fuel its growth — will it be retained or not, will be a different story altogether.
As Reliance chairman Mukesh Ambani takes center stage to begin the AGM, we will bring you the Live updates here, STAY TUNED!
The post LIVE Reliance AGM 2020: Jio’s Digital Empire, New Launches, Partnerships And More appeared first on Inc42 Media.
Author: Team Inc42
Source : https://inc42.com/buzz/live-reliance-agm-2020-jio-digital-empire-new-launches-partnerships-and-more/
Date : 2020-07-15T07:45:10.000Z