Reliance Jio May Get Additional Rs. 60,000 Crore Firepower

Reliance Industries (RIL) is likely to invest Rs 60,000 crore into its telecom unit this fiscal year as the company seeks to speed up the roll out of broadband services and expand its wireless network. In addition to this, unit Reliance Jio Infocomm Ltd may also borrow as much as Rs 1 trillion. The fresh investments will also allow Reliance Jio to maintain pricing pressure on rivals, who are bleeding due to a tariff war sparked by the Mukesh Ambani-led firm. The firm has also said it remains focused on providing higher value to consumers and will prioritize customer engagement over short-term revenue recovery, which means it will retaliate if rival operators try to sweeten their offers. Reliance Jio will also continue to invest aggressively to acquire content as it sees it as a key differentiator. The company is in final stage of commercial launch of home broadband services, though the rollout is expected to be gradual.