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Monday 2nd October 2023 / 17 Rabiulawal 1445

India’s richest man hands out free TVs with broadband packages

New Delhi: Indian conglomerate Reliance is offering a combo deal to the people interested in subscribing for broadband packages. Jiofiber will be handing out free TVs to its customers who subscribe to its broadband services. 

Mukesh Ambani, richest Indian and an owner of Reliance Jio, is tapping the country’s fastest-growing internet base by offering free high definition TV with his annual broadband packages starting from INR 15,888 (PKR. 34678) which will also include streaming services such as Netflix and Amazon Prime.

The new broadband Jio Fiber will also offer cheaper subscription fees starting from INR 699 ( PKR 1400). The company has launched its services in 16 different Indian cities.

“With JioFiber, Jio continues to deliver on its promise of connecting the unconnected while bringing about transformational changes to Indian homes,” the company said in a statement

The market could leap to $5 billion by 2023 from $500 million last year, BCG estimates. The boom has set Bollywood production houses, carriers and streaming services racing to feed demand for TV shows and movies and compete for users. Paying subscribers will probably rise to as many as 50 million, while users of advertising-supported video-on-demand will reach 600 million, BCG predicts.

Ambani had inherited most of the Reliance Industries corporate empire from his father. It began as a humble textile business but, it has now grown into one of India’s biggest conglomerates spanning energy, retail, and telecoms. Ambani and his younger brother Anil divided up the empire after a bitter succession battle following their father’s death in 2002. Reliance Industries is now worth about $108 billion, as covered by CNN.

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