Reliance Jio Infocomm Limited is a well-known business enterprise with immense popularity, engaging customers from every nook and corner. Not to forget that this was the company that gave an opportunity to India’s low-income population in connecting with the world by providing easily affordable mobile phones. After years of its success, the people are once again gazing at Reliance Jio for some new elbow room. But this time it’s not with Mukesh Ambani, instead it’s Akash Ambani.
In a significant development in Reliance Industries Limited (RIL), Akash Ambani, Non- executive Director, and son of businessman Mukesh Ambani, has taken over as the chairman of the Board of Directors of Reliance Jio Infocomm Limited, the digital and telecom arm of RIL. This came in effect from June 27, after the resignation of Mukesh Ambani as the Director of the Reliance Jio company.
However, Mukesh Ambani will continue to be the Chairman of Jio Platforms Limited, which is the flagship company owning all the other Jio digital service brands.
Mukesh Ambani has always been the popular face of Reliance Industries. But now it is the time for his son to hold the designation and further scale the company to even greater heights.
Akash Ambani has already been closely involved in the company’s operations. He was involved in the disruptive and inclusive growth path in the Indian telecommunications company. As an opportunity, Akash will be serving millions of customers across geographies and income levels. This development is just the initiation for Akash Ambani to showcase his strengths, and this can further welcome more opportunities knocking on his doors.
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The expanding roots of Reliance enterprise
Reliance Jio is India’s largest telecommunication company, which has served the population belonging to almost every income level. Jio has provided free voice calls, 4G network with the fastest 4G speed, unlimited data, widest coverage of the population, and many more features. Through these functions Reliance Jio has served the Indian masses with its motto to expand the network of communication through the affordable availability of phones in the market.
The company became increasingly popular even among the poor middle-class population after its release of the Jio Phone in the Indian market because of its affordable price of Rs 1,999. Jio Phone, which was popularly known as the “India ka Smartphone”, was launched with a compact design, 2.4 Inch QVGA Display, 4 GB internal memory, and 512 MB RAM. Soon after its release, this phone jotted immense recognition.
Various other such projects were introduced by Reliance Industries, which gave the company a better edge to hold in the market. The net sales turnover of the company in March 2022 was Rs. 4,45,375 crore.
On the other hand, while considering the revenue of Reliance Jio, it can be seen that the company raised its numbers incessantly. In FY 2019, the revenue of the company was marked at Rs. 486.6 billion. While in FY 2020, it was at Rs. 696.05 billion. And in FY 2020, the numbers again got a surge and reached Rs. 902.87 billion.
Reliance Jio, a part of Reliance Industries has continuously strengthened its base in the market. Amidst the consistent development of the company, it’s important to launch a fresh face to its ability to relate to the young masses throughout India. And thus, Akash Ambani came to the forefront to thrive the company’s share in the Indian market.
Akash Ambani, the correct choice
Akash Ambani, the son of Mukesh Ambani, has always been in the good books of the business world. He has successfully followed the footprints of his father. This can be evidenced by the previous efforts made by him. Akash Ambani has been a disciplined son by holding some important roles earlier in the history of Ambani businesses.
Akash Ambani is also the co-owner of the popular Indian Premier League or IPL team Mumbai Indians. His ability also expands in the football’s Indian Super League (ISL) which is the counterpart of IPL. Akash Ambani is also the Director, Head of Strategy and a member of the Executive Committee at Reliance Jio. Apart from this, he also holds a seat in the governing and operating body of Reliance Jio.
Akash Ambani already holds some experience in the telecommunication arm of Reliance. He was responsible for handling the product development, messaging and chat development, and other digital service applications of Jio.
All these efforts already made by Akash Ambani can clearly state him as the suitable personality to hold the functions as a director of Reliance Jio. Additionally, this can be an initiative of nurturing the son to control future operations in an elaborate manner.
Through this, there can be a probability of Akash Ambani handling more businesses of the Ambani family in the future. This can be done because Mukesh Ambani currently roots in almost every industry, and his son can be the next hierarchical owner of other businesses.
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