Reliance Industries’ biggest priority for 2021 is 5G which will be the pioneer of the 5G network in India in the second half of 2021.
The year 2020 for Mukesh Ambani has been a busy year, most of his year he spent trying to convince Facebook Inc., Google to buy and invest in his vision for what we can call an ambitious corporate transformation. Selling a dream for $27 billion, yet Indian Tycoon is now under pressure to deliver the same.
According to recent public statements, Ambani is now focused on other priorities, like trying to convert the old-economy conglomerate, Reliance Industries Ltd. into a technology and e-commerce titan.
Reliance Industries Ltd. will also be responsible for rolling out the most anticipated local 5G network next year. Mukesh Ambani said, “Reliance Industries’ biggest priority for 2021 is 5G which will be the pioneer of the 5G network in India in the second half of 2021.”
Other priorities include incorporating the new WhatsApp payment services into Reliance’s digital platform, integrating offerings of e-commerce with independent business networks all over the country. Ambani is also working towards selling a stake in Reliance’s oil and petrochemical units, a deal which he expects to reduce debt while will also finance his high-tech pivot.
Although Ambani has publicly talked about the new partnerships with investors including Facebook, he mentioned that the fundraising spree was not meant to be the priority. But what was on priority was to sell a 20% stake in Reliance’s oil and petrochemical division to accompany in Saudi Arabia.
Jio Platforms Ltd, one of Reliance’s digital units, is also looking for developing tech solutions and apps for millions of micro, small, and medium businesses in India. This platform is expected to expand its access overseas.