Two takeaways from Reliance’s day: On Amazon and 5G
Pranav S.
16 July 2020

If I still worked at a newspaper, I would be devoting at least a couple of broadsheet pages to the announcements made during Reliance Industries Ltd’s annual general meeting. Flush with fresh funds, India’s most valuable company—run by Asia’s richest man, Mukesh Ambani—laid down a roadmap to dominate the country’s digital economy.

We’ll focus on two things.

The e-commerce challenge

Over the past three months, Jio Platforms has raised about $20 billion in equity investments over a dozen global investors. Jio Platforms is a subsidiary that houses all of Reliance’s digital services and Reliance Jio Infocomm, India’s biggest and youngest telecom operator. The line-up of investors includes sovereign wealth funds and pedigreed private equity firms such as KKR & Co., L Catterton, Silver Lake and General Atlantic—as well as a troika of modern US tech giants, i.e. Facebook, Microsoft and Google.

In return for their funding,

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