Akash Ambani. File
| Photo Credit: The Hindu

“Telecom major Reliance Jio has deployed 85% 5G network in India and has the capability to deploy one 5G cell in every 10 seconds,” the company’s Chairman Akash Ambani said.

According to a statement released by broadband speed and quality measurement firm Ookla, the Reliance Jio chairman said the company has covered the entire country with a 5G network ahead of the promised time frame of December 2023.

Indians willing to pay a premium for elevated 5G experience

“I am particularly proud of our speed of the committed True 5G roll-out. Today, we have covered the entire country with a robust True 5G network ahead of our promised time frame of December 2023. Eighty five per cent of the entire 5G deployment in India is made by Jio. We continue to deploy one 5G cell every 10 seconds,” Mr. Ambani said.

According to the Department of Telecom, more than 3.38 lakh base stations for 5G have been deployed across the country.

“Over the past seven years, we’ve set several global benchmarks, propelling India into digital prominence. Today, our ambitions are even higher, and our faith in India’s digital future is as strong as ever. We remain fully committed to achieving the full potential of a digital India, and to help India become a leader on the global stage,” Mr. Ambani said.

Ookla on Sunday said Jio has emerged as the number one network in India, winning all nine Speedtest awards presented by Ookla for mobile networks in the market, including all awards for 5G networks.

“Jio has emerged as the #1 Network in India, winning all nine awards for Mobile Networks in the market, including all awards for 5G networks. This is a first for any service provider anywhere in the world,” Ookla said.

“Jio won awards for the best mobile network, fastest mobile network, best mobile coverage, top-rated mobile network, best mobile video experience, best mobile gaming experience, fastest 5G mobile network, best 5G mobile video experience, and best 5G mobile gaming experience,” Ookla said.

“We are pleased to recognise Jio’s efforts in providing the best customer experience in speed, video, and gaming to their customers. These awards and this recognition makes them the most awarded network in India, reaffirming Jio’s ambition to offer the best-in-class network to their consumers,” Ookla President and CEO Stephen Bye said.

Asia’s richest man Mukesh Ambani took another step on Monday to lay out a succession plan at Reliance Industries Ltd.

The 66-year-old elevated his three children as non-executive directors to Reliance’s board and said he will spend the next five years of his chairmanship preparing them to take charge of the conglomerate’s transformation into a digital, consumer and green energy behemoth.

It’s all part of an effort to avoid repeating the tumultuous split that roiled the first family of corporate India. More than a decade ago Reliance’s founder, Dhirubhai Ambani, died without a will or a clear leadership transition, stirring a bitter feud between Mukesh and his younger brother, Anil. Reliance was eventually divided up following the intervention of their mother.

Three years ago, Ambani began including his children in major family businesses decisions, involving them in talks with Meta Platforms Inc. to secure a $5.7 billion investment. Formal roles have also been carved out for Isha, Akash and Anant in Reliance’s energy, retail, telecom and digital services arms.

Each child owns a $236 million direct ownership stake in Reliance, according to the Bloomberg Billionaires Index. But it remains to be seen whether Ambani’s children can emulate their father’s success turning the oil-to-consumer titan into India’s biggest company by market value as the conglomerate increasingly attempts to reposition itself for the future.

Here’s what we know about the next generation trio:

Isha Ambani

With an MBA from Stanford University and experience working at McKinsey & Co., Ambani’s 31-year-old daughter Isha leads the conglomerate’s retail business, driving its expansion and the acquisition of brands, including the once largely defunct and nostalgia-tinged Campa Cola soda brand that was the market leader in India’s socialist era.

In 2019, Ambani credited the idea of launching Reliance Jio Infocomm to Isha, who complained about slow Internet speeds at the family’s Mumbai residence when she was home from her earlier studies at Yale University. Earlier this year, Isha was also involved in opening a swanky Mumbai theater and arts center named after her mother.

Isha is married to Anand Piramal, the son of Indian billionaire Ajay Piramal, whose interests range from pharmaceuticals to real estate. Their 2018 wedding was a spectacular tour-de-force, with performances and guests including Beyoncé, Shah Rukh Khan and Hillary Clinton. They welcomed twins to their family in November last year.

Akash Ambani

The twin-brother of Isha was elevated as chairman of Reliance Jio Infocomm in June last year, taking the helm after his father stepped down. Soft spoken Akash holds an economics bachelor degree from Brown University and has served as a director on the board of Reliance Retail Ventures Ltd. since October 2014.

Along with his mother Nita, Akash helps manage the family’s Indian Premier League cricket team, featuring in the 2019 Netflix Inc. documentary series Cricket Fever: Mumbai Indians. He married Shloka Mehta — the daughter of a wealthy diamond businessman — in another no-expenses spared A-list celebration in 2019. They have two children.

Anant Ambani

Anant, 28, like his brother has a bachelor degree from Brown University, and is closely associated with the conglomerate’s renewable energy transition. Anant has been a director on the boards of Jio Platforms since March 2020, Reliance Retail Ventures since May 2022 and Reliance New Energy Ltd and Reliance New Solar Energy Ltd since June 2021. He also serves on the board of Reliance Foundation charity.

Last year, his father said Anant had joined Reliance’s new energy business “with great zeal,” adding that “he is spending most of his time in Jamnagar,” referring to the company’s petrochemicals complex in western India. In January, Anant celebrated his engagement to Radhika Merchant at a grand event at the Ambani’s towering residential complex in one of Mumbai’s poshest districts.

–With assistance from Alexander Sazonov.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Reliance Industries chairman Mukesh Ambani Chairman poses with (from 2nd R to L) wife Nita Ambani, children Isha Ambani, Anant Ambani, and Akash Ambani. File
| Photo Credit: Reuters

The Board of Directors of Reliance Industries Limited (RIL), at its meeting held on August 28 on the recommendation of the Human Resources, Nomination and Remuneration Committee, considered and recommended to the shareholders for approval of appointment of Isha Ambani, Akash Ambani and Anant Ambani as Non-Executive Directors of the Company. 

“Their appointment will take effect from the date they assume office after approval by the shareholders,” RIL said in a statement.

The Board of Directors also accepted the resignation of Nita Ambani from the Board respecting her decision “to devote her energies and time to guide and enable Reliance Foundation (RF) to make even greater impact for India.”

“The Board of Directors appreciated Nita Ambani for her leadership of Reliance Foundation as its Founder Chairperson. Over the years, RF has made considerable progress in its mission of nurturing and empowering marginalised and under-resourced communities in India,” the statement said. 

“They lauded Nita Ambani’s request to focus even more on strengthening Reliance Foundation as it embarks on a mission to achieve even greater societal transformation by undertaking a host of new programmes and initiatives,” the statement added.

“As the Chairperson of Reliance Foundation, Nita Ambani will attend all the RIL Board meetings as a permanent invitee to the Board so that the Company can continue to benefit from her advice,” the statement further said.

The company said that Isha Ambani, Akash Ambani and Anant Ambani have been closely involved with and are leading and managing key businesses of RIL over the last few years including retail, digital services and energy and materials businesses. “They also serve on the boards of the key subsidiaries of RIL.“

“Their appointment to the Board of RIL will enable RIL to gain from their insights and infuse new ideas, the Board opined,” RIL said.