Watch Out For Next Few Quarters: Mukesh Ambani On Reliance Jio Profit

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Even as Reliance Jio and Bharti Airtel have locked horns over several issues, Ambani on Friday said Airtel Chairman Sunil Mittal was a friend and not a rival.

Mukesh Ambani, Asia's second- richest man, on Friday said that India's GDP will double to Dollars 5 trillion in the next seven years and hit USD 10 trillion by 2030, as it will elbow out China by the middle of 21st century. I think what he said and what may have been interpreted may be different.

RIL chariman Mukesh Ambani today advised the telecom operators to stop relying on government and the regulator to increase their profits. Today, Indians consume more mobile broadband data than users in the USA and China. And I think the question as a journalist you should be thinking about is that, even if there are profits and losses, who gains and who loses - as long as the consumer gains and the country moves forward, it is worth taking those losses. "Not having legacy technology base means we do not have to train, we can skip multiple generation of technologies and directly embrace the next generation", he added.

Mukesh Ambani
Mukesh AmbaniReuters

According to Mr Ambani, Reliance Jio that disrupted the telecom industry by offering free calls and cheap data on mobile phones is ahead of schedule on turning profitable.

Mukesh Ambani: Jio's results are declared every quarter now, and you can see the trend and watch the next few quarters.

The RIL chairman predicted that India will be ahead of the U.S. in terms of data infrastructure by 2019.

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R Sukumar: How do you decide how to enter into a business? Some of Reliance Jio's rivals have been around in the industry for over 20 years.

Mukesh Ambani: The Reliance DNA started from my father when he founded Reliance. "Agriculture is hard, education is important, and healthcare is most hard and we will think about what we can do in each one of these areas", he added. Moving from shadows in the audience to under the spotlight, Mukesh Ambani played it ever so smoothly. "The fourth industrial revolution is now upon us. India in terms of the data infra will be ahead of the United States by 2019", he added. "Profits and losses are risks that businesses take. And more attractive to the world", he further added.

The THIRD defining characteristic would be a migration from a goods and services economy to one powered by intelligent services. We would have no chance. Ambani listed out Aadhaar as the largest and the most sophisticated, biometric ID system, and the launch of 104 satellites with a single rocket as examples of India's prowess. "Today, Indians consume more mobile broadband data than users in United States of America and China".

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"This (agriculture) is a hard problem to tackle but we are ready to take on hard problems". Education is important. And healthcare is the most hard. We don't just jump into anything, we think through it carefully.

"By the middle of 21st century, India's rise will be higher than China's rise".

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