Reliance Jio Infocomm (RJIL) is all set to acquire &#39;specified assets&#39; from Reliance Communications (RCOM) and its affiliates.

In an announcement made earlier today, RJIL -- a subsidiary of Reliance Industries Limited -- gave out information detailing the agreement.

According to the agreement, Mukesh Ambani-led Reliance Jio will acquire mobile business assets including spectrum, mobile towers and optical fibre network of Reliance Communications.

These assets will facilitate RJIL in the large-scale roll-out of wireless and fiber, the statement noted.

Anil Ambani&#39;s RCom is reeling under debt worth whopping 45,000 crore Rupees. The deal is expected to give RCom some relief.

Reliance Jio or its nominees will acquire assets under four categories - Towers, Optic Fiber Cable Network (&quot;OFC&quot;), Spectrum and Media Convergence Nodes (&quot;MCN&quot;) from RCOM and its affiliates.

Reliance Jio will acquire all the assets without any previous liabilities attached to them.

&quot;The acquisition is subject to receipt of requisite approvals from governmental and regulatory authorities, consents from all lenders, release of all encumbrances on the said assets and other conditions precedent. The consideration is payable at completion and is subject to adjustments as specified in the agreement,&quot; the statement said.

Reliance Jio said the process to acquire assets of RCom is supervised by an independent group of distinguished industry experts and it emerged as the successful bidder in the two-stage bidding process.

&quot;An asset monetisation process for RCOM assets was mandated by the lenders of RCOM, who appointed SBI Capital Markets Limited to run the process,&quot; the statement said.

The parties are bound by confidentiality obligations and will make further disclosures at the appropriate time.

(With inputs from agencies)

Anil Ambani's RCom is reeling under debt worth whopping 45,000 crore Rupees

Reliance Jio Infocomm (RJIL) is all set to acquire 'specified assets' from Reliance Communications (RCOM) and its affiliates. In an announcement made earlier today, RJIL -- a subsidiary of Reliance Industries Limited -- gave out information detailing the agreement. According to the agreement, Mukesh Ambani-led Reliance Jio will acquire mobile business assets including spectrum, mobile towers and optical fibre network of Reliance Communications. These assets will facilitate RJIL in the large-scale roll-out of wireless and fiber, the statement noted. Anil Ambani's RCom is reeling under debt worth whopping 45,000 crore Rupees. The deal is expected to give RCom some relief. Reliance Jio or its nominees will acquire assets under four categories - Towers, Optic Fiber Cable Network ("OFC"), Spectrum and Media Convergence Nodes ("MCN") from RCOM and its affiliates. Reliance Jio will acquire all the assets without any previous liabilities attached to them. "The acquisition is subject to receipt of requisite approvals from governmental and regulatory authorities, consents from all lenders, release of all encumbrances on the said assets and other conditions precedent. The consideration is payable at completion and is subject to adjustments as specified in the agreement," the statement said. Reliance Jio said the process to acquire assets of RCom is supervised by an independent group of distinguished industry experts and it emerged as the successful bidder in the two-stage bidding process. "An asset monetisation process for RCOM assets was mandated by the lenders of RCOM, who appointed SBI Capital Markets Limited to run the process," the statement said. The parties are bound by confidentiality obligations and will make further disclosures at the appropriate time. (With inputs from agencies)

Mukesh Ambani's Reliance Jio to acquire RCom's tower assets

Reliance Industries <a href="http://www.wionews.com/india-news/data-the-new-oil-should-ensure-access-for-every-indian-mukesh-ambani-20737">chairman Mukesh Ambani declared today</a> that India will become a $5 trillion economy in the next 20 years.

The<a href="http://www.wionews.com/south-asia/mukesh-ambani-draws-salary-of-rs-15-cr-for-9th-year-in-a-row-17371"> Jio founder speaking at a conference</a> said: &quot;By the middle of the 21st century, India&#39;s rise will be higher than China&#39;s rise. And more attractive to the world,&quot; adding,&quot;India will provide a superior and different development model which creates equitable and inclusive growth based on technology, democracy, good governance and a society-wide culture of empathy.&quot;

Ambani said that he had predicted in 2004 that India would become a $ 5 trillion economy in 20 years, it was then a &nbsp;$500-billion economy.

&quot;Today, that prediction seems certain. Indeed, it will be achieved well before 2024,&quot; he declared.

The Indian economy will triple to $7 trillion in the next 10 years to become the third-largest economy in the world,&quot; he added.

India is ranked 126th in GDP per capita, according to the International Monetary Fund(IMF). The IMF ranks over 200 countries in terms of per capita GDP based on purchasing power parity (PPP).

India&#39;s GDP per capita went up to $7,170 (Rs 4.66 lakh) in 2017 from $6,690 last year.&nbsp;

Ambani, however, was bullish about the Indian economy, saying: &quot;The fourth industrial revolution is now upon us. The foundation of this revolution is connectivity, computing, data and artificial intelligence, it&#39;s my firm conviction that India can not only participate in the revolution but has the opportunity to be a leader.&quot;

On government&#39;s Aadhaar initiative, Ambani said it was the &quot;largest and the most sophisticated, biometric ID system&quot;.

He also highlighted India&#39;s recent launch of 104 satellites with a single rocket as examples of India&#39;s technological strength.

Ambani said that he had predicted in 2004 that India would become a $ 5 trillion economy in 20 years, it was then a ?$500-billion economy

Reliance Industries chairman Mukesh Ambani declared today that India will become a $5 trillion economy in the next 20 years. The Jio founder speaking at a conference said: "By the middle of the 21st century, India's rise will be higher than China's rise. And more attractive to the world," adding,"India will provide a superior and different development model which creates equitable and inclusive growth based on technology, democracy, good governance and a society-wide culture of empathy." Ambani said that he had predicted in 2004 that India would become a $ 5 trillion economy in 20 years, it was then a $500-billion economy. "Today, that prediction seems certain. Indeed, it will be achieved well before 2024," he declared. The Indian economy will triple to $7 trillion in the next 10 years to become the third-largest economy in the world," he added. India is ranked 126th in GDP per capita, according to the International Monetary Fund(IMF). The IMF ranks over 200 countries in terms of per capita GDP based on purchasing power parity (PPP). India's GDP per capita went up to $7,170 (Rs 4.66 lakh) in 2017 from $6,690 last year. Ambani, however, was bullish about the Indian economy, saying: "The fourth industrial revolution is now upon us. The foundation of this revolution is connectivity, computing, data and artificial intelligence, it's my firm conviction that India can not only participate in the revolution but has the opportunity to be a leader." On government's Aadhaar initiative, Ambani said it was the "largest and the most sophisticated, biometric ID system". He also highlighted India's recent launch of 104 satellites with a single rocket as examples of India's technological strength.

India will become $5 trillion economy in next 20 years: Mukesh Ambani

Reliance Industries Ltd&#39;s telecoms arm Jio will turn profitable &quot;shortly,&quot; the Indian conglomerate said today even as its net losses widened to Rs 270.59 crore in the July-September quarter this fiscal against a net loss of Rs 21.3 crore in the preceding quarter.

The company added it would continue to pump around $1 billion into the venture for each of the next few quarters.

The total income of Reliance Jio stood at Rs 6,148.73 crore in the quarter under review.

The financials were announced after the markets closed for trading today. &nbsp;Shares of the company closed at Rs 876.7 apiece, up 0.48 per cent from the previous closing.

However, Reliance Industries Ltd(RIL) consolidated net profit increased 12.5 per cent to Rs 8,109 crore for the September quarter.

The company had reported a net profit of Rs 7,209 crore in the same quarter last fiscal, RIL said in a regulatory filing.

The company&#39;s revenue rose 23.9 per cent to Rs 1,01,169 crore in the reported quarter as against Rs 81,651 crore in the year-ago period.

Reliance Industries Ltd consolidated net profit increased 12.5 per cent to Rs 8,109 crore for the September quarter

Reliance Industries Ltd's telecoms arm Jio will turn profitable "shortly," the Indian conglomerate said today even as its net losses widened to Rs 270.59 crore in the July-September quarter this fiscal against a net loss of Rs 21.3 crore in the preceding quarter. The company added it would continue to pump around $1 billion into the venture for each of the next few quarters. The total income of Reliance Jio stood at Rs 6,148.73 crore in the quarter under review. The financials were announced after the markets closed for trading today. Shares of the company closed at Rs 876.7 apiece, up 0.48 per cent from the previous closing. However, Reliance Industries Ltd(RIL) consolidated net profit increased 12.5 per cent to Rs 8,109 crore for the September quarter. The company had reported a net profit of Rs 7,209 crore in the same quarter last fiscal, RIL said in a regulatory filing. The company's revenue rose 23.9 per cent to Rs 1,01,169 crore in the reported quarter as against Rs 81,651 crore in the year-ago period.

Reliance Industries net profits zoom, Jio's losses widen

Reliance Industries chairman Mukesh Ambani addressed the first-ever &quot;India Mobile Congress 2017&quot; in New Delhi on Wednesday.

India&#39;s top industrialist, who is the chairman of Reliance Jio, said that according to him, 4G coverage will take over 2G connectivity in India in the next 12 months.

Calling internet data the new oxygen, the Reliance Jio chairman said it was the &quot;new oil for 1.3 billion Indians&quot; and stressed that India does not need to import it.

&quot;Data is the new oxygen, new oil for 1.3 billion Indians. India does not need to import it, has to ensure every Indian has access to it...Our aim is to not only provide high-speed data at affordable prices but also affordable smartphones to help people connect better with the Internet,&quot; Mr Ambani said.

&nbsp;&quot;Growth in India&#39;s mobile data market is unparalleled in the&nbsp;world,&quot; he added.

He also emphasised the need for investing in creating next-generation technology, breaking silos, and forging partnerships.

India&#39;s top industrialist predicted that India will lead the fourth industrial revolution with a synergy between the telecom and the Information and Technology industry which would lay the foundation of empowering 1.3 billion Indians.

He said the Indian economy would grow from USD 2.5 trillion to over USD 7 trillion and rank among top 3 economies in next 10 years, thanks to the contribution of the Indian telecom and IT industry which would play a key role in creating digital transformation.

Reliance Industries chairman Mukesh Ambani addressed the first-ever "India Mobile Congress 2017" in New Delhi on Wednesday.

Reliance Industries chairman Mukesh Ambani addressed the first-ever "India Mobile Congress 2017" in New Delhi on Wednesday. India's top industrialist, who is the chairman of Reliance Jio, said that according to him, 4G coverage will take over 2G connectivity in India in the next 12 months. Calling internet data the new oxygen, the Reliance Jio chairman said it was the "new oil for 1.3 billion Indians" and stressed that India does not need to import it. "Data is the new oxygen, new oil for 1.3 billion Indians. India does not need to import it, has to ensure every Indian has access to it...Our aim is to not only provide high-speed data at affordable prices but also affordable smartphones to help people connect better with the Internet," Mr Ambani said. "Growth in India's mobile data market is unparalleled in the world," he added. He also emphasised the need for investing in creating next-generation technology, breaking silos, and forging partnerships. India's top industrialist predicted that India will lead the fourth industrial revolution with a synergy between the telecom and the Information and Technology industry which would lay the foundation of empowering 1.3 billion Indians. He said the Indian economy would grow from USD 2.5 trillion to over USD 7 trillion and rank among top 3 economies in next 10 years, thanks to the contribution of the Indian telecom and IT industry which would play a key role in creating digital transformation.

Data the new oil, should ensure access for every Indian: Mukesh Ambani

Reliance has cancelled the pre-bookings of its latest launch 4G VoLTE feature phone.

The company suspended the pre bookings of the &quot;effectively free&quot; phone due to overbooking of orders. The already booked orders are expected to be delivered by September.

Reliance&nbsp;has suspended the booking for some time and will notify its users&nbsp;after it gets back to taking up further orders.

The company website said &ldquo;Millions have pre-booked the JioPhone. We will inform you when pre-booking resumes,&rdquo;

However, the company has still not clarified if it had stopped pre-bookings on all retailers and stores. &nbsp;

In his latest annual general meeting, Reliance Industries Chairman Mukesh Ambani had said that the company expects to sell five&nbsp;million JioPhones every week.&nbsp;

The pre-bookings of the effectively zero priced phone had started on August 24 after the initial deposit of Rs 500, which was later to be refunded by the company. In addition to this, the customer had to pay an additional deposit of Rs 1000 after the handsets&#39;&nbsp;delivery in September, which was again refundable.&nbsp;

The amount of the JioPhone will be refunded after three years on the return of the handset. The phone provides free voicecall and an unlimited SMS and half a GB of data per day on payment of &nbsp;Rs 153 a month. Besides these, the handset will provide access to various Jio apps on music and movies.&nbsp;

&nbsp;

Reliance?has suspended the booking for some time and will notify its users after it gets back to taking up further orders

Reliance has cancelled the pre-bookings of its latest launch 4G VoLTE feature phone. The company suspended the pre bookings of the "effectively free" phone due to overbooking of orders. The already booked orders are expected to be delivered by September. Reliance has suspended the booking for some time and will notify its users after it gets back to taking up further orders. The company website said “Millions have pre-booked the JioPhone. We will inform you when pre-booking resumes,” However, the company has still not clarified if it had stopped pre-bookings on all retailers and stores. In his latest annual general meeting, Reliance Industries Chairman Mukesh Ambani had said that the company expects to sell five million JioPhones every week. The pre-bookings of the effectively zero priced phone had started on August 24 after the initial deposit of Rs 500, which was later to be refunded by the company. In addition to this, the customer had to pay an additional deposit of Rs 1000 after the handsets' delivery in September, which was again refundable. The amount of the JioPhone will be refunded after three years on the return of the handset. The phone provides free voicecall and an unlimited SMS and half a GB of data per day on payment of Rs 153 a month. Besides these, the handset will provide access to various Jio apps on music and movies.

Reliance Jio cancels pre-bookings of JioPhone after overbooking

Reliance Industries Limited (RIL) will hold its fortieth annual general meeting today.&nbsp;

A number of announcements are expected.&nbsp;

These include new Jio tariffs, services and an affordable 4G phone. &nbsp;

RIL chairman Mukesh Ambani is expected to address shareholders at about 11 am.&nbsp;

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The three-year security deposit is refundable

Reliance Industries Limited (RIL) will hold its fortieth annual general meeting today. A number of announcements are expected. These include new Jio tariffs, services and an affordable 4G phone. RIL chairman Mukesh Ambani is expected to address shareholders at about 11 am.

Watch: Mukesh Ambani launches 'free' Jio phone, security deposit is Rs 1,500

Reinventing the conventional feature phone, Reliance Jio has unveiled a new handset - the JioPhone - which has features of a smartphone in a regular feature phone body. With the launch of the new 4G-enabled feature phone, Reliance Jio aims to make 2G feature phones obsolete.

Calling it &ldquo;the world&rsquo;s most affordable phone in the world&rdquo;, Reliance Jio has priced the JioPhone at Rs 0. While the phone will be available for free, buyers need to deposit a security of Rs 1500, which, the company says, will be refundable after 3 years.

JioPhone will offer users free voice and SMS along with unlimited data at Rs 153 per month. And for those who can&rsquo;t afford to make a monthly payment, the company has introduced two cheaper data tariff plans - Rs 24 for 2 days and Rs 54 for a week.

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Also, the Jio Phone-TV cable service, which will let users connect the JioPhone to all smart and non-smart TVs, will be available for Rs 309 per month.

The JioPhone is a &ldquo;100 per cent 4G LTE phone&quot;, which comes with a digital assistant to make calls and access Internet services by voice commands. The JioPhone supports 22 Indian languages and includes an SOS facility, which will let users send an emergency message to select people from the contact list, by pressing the &ldquo;5&rdquo; button.

Other features of the phone include 2.4-inch QVGA display, alphanumeric keypad, SD card slot, FM radio and a camera. The phone will come pre-loaded with Jio apps including JioMusic and JioCinema.

The JioPhone will also support digital payments. The NFC technology for the phone will be introduced later this year, says the company.

The JioPhone will be up for pre-booking from August 24, and will be available to people on a first-come, first-serve basis. The company aims to make 5 million JioPhone units available every week. The phone, however, will be available for testing in beta from August 15.

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The JioPhone will be up for pre-booking from August 24, and will be available to people on a first-come, first-serve basis

Reinventing the conventional feature phone, Reliance Jio has unveiled a new handset - the JioPhone - which has features of a smartphone in a regular feature phone body. With the launch of the new 4G-enabled feature phone, Reliance Jio aims to make 2G feature phones obsolete. Calling it “the world’s most affordable phone in the world”, Reliance Jio has priced the JioPhone at Rs 0. While the phone will be available for free, buyers need to deposit a security of Rs 1500, which, the company says, will be refundable after 3 years. JioPhone will offer users free voice and SMS along with unlimited data at Rs 153 per month. And for those who can’t afford to make a monthly payment, the company has introduced two cheaper data tariff plans - Rs 24 for 2 days and Rs 54 for a week. × Also, the Jio Phone-TV cable service, which will let users connect the JioPhone to all smart and non-smart TVs, will be available for Rs 309 per month. The JioPhone is a “100 per cent 4G LTE phone", which comes with a digital assistant to make calls and access Internet services by voice commands. The JioPhone supports 22 Indian languages and includes an SOS facility, which will let users send an emergency message to select people from the contact list, by pressing the “5” button. Other features of the phone include 2.4-inch QVGA display, alphanumeric keypad, SD card slot, FM radio and a camera. The phone will come pre-loaded with Jio apps including JioMusic and JioCinema. The JioPhone will also support digital payments. The NFC technology for the phone will be introduced later this year, says the company. The JioPhone will be up for pre-booking from August 24, and will be available to people on a first-come, first-serve basis. The company aims to make 5 million JioPhone units available every week. The phone, however, will be available for testing in beta from August 15.

JioPhone: Mukesh Ambani unveils 4G feature phone for 'Rs 0', security deposit is Rs 1,500

Reliance Industries boss Mukesh Ambani kept his annual salary capped at Rs 15 crore for the ninth year in a row and did not take any stock option even as the remuneration of most executive directors on the board rose. 
 
Ambani, the richest Indian, has kept salary, perquisites and allowances and commission at Rs 15 crore since 2008-09, forgoing almost Rs 24 crore per annum. 
 
&quot;The chairman and managing director&#39;s compensation has been set at Rs 15 crore as against Rs 38.75 crore as approved, reflecting his desire to continue to set a personal example for moderation in managerial compensation levels,&quot; RIL said in its annual report for 2016-17. 
 
His remuneration for 2016-17 included Rs 4.16 crore as salary and another Rs 60 lakh by way of perquisites and allowances. He got retirement benefits of Rs 71 lakh and Rs 9.53 crore as commission on profit. 
 
The base salary, allowances, retirement benefits and commission on profit are the same as what he got in 2015-16. 
 
Ambani voluntarily capped his compensation at Rs 15 crore in October 2009 amid a debate over right-sizing of CEO salaries. 
 
The salary cap continued even as all other executive directors saw their remunerations go up. 
 
Ambani&#39;s cousins Nikhil R Meswani and Hital R Meswani saw their compensation rise to Rs 16.58 crore each. They had earned Rs 14.42 crore and Rs 14.41 crore, respectively, in the previous year. In 2014-15, they had got Rs 12.03 crore each. 
 
Also, one of his key executives, Executive Director P M S Prasad saw his remuneration go up to Rs 7.87 crore in 2016-17, from Rs 7.23 crore in 2015-16 and Rs 6.03 crore in 2014-15. 
 
Refinery chief Pawan Kumar Kapil, however, saw his compensation drop to Rs 2.54 crore, from Rs 2.94 crore in 2015 -16. He had earned Rs 2.41 crore in 2014-15. 
RIL&#39;s non-executive directors, including Nita Ambani, also got Rs 1.2 crore each as commission, besides sitting fees. 
 
Besides, Nikhil and Hital got stock options worth Rs 64.18 crore each, according to the annual report. Prasad got stock options of Rs 45 crore and Kapil got Rs 1 crore in stock options. 
 
Ambani&#39;s wife Nita Ambani, a non-executive director on the company&#39;s board, earned Rs 4 lakh sitting fee and a commission of Rs 1.35 crore. The sitting fee was lower than Rs 6 lakh she earned in the previous year, but the commission was higher than Rs 1.20 crore in 2015-16. 
 
Apart from Ambani, the RIL board has Meswani brothers, Prasad and Kapil as wholetime directors. 
 
Besides Nita Ambani, other non-executive directors include Dharam Vir Kapur, Dipak C Jain, Mansingh L Bhakta, Yogendra P Trivedi, Raminder Singh Gujral, Ashok Misra, Raghunath A Mashelkar and Adil Zainulbhai.

(PTI)

Ambani, the richest Indian, has kept salary, perquisites and allowances and commission at Rs 15 crore since 2008-09

Reliance Industries boss Mukesh Ambani kept his annual salary capped at Rs 15 crore for the ninth year in a row and did not take any stock option even as the remuneration of most executive directors on the board rose. Ambani, the richest Indian, has kept salary, perquisites and allowances and commission at Rs 15 crore since 2008-09, forgoing almost Rs 24 crore per annum. "The chairman and managing director's compensation has been set at Rs 15 crore as against Rs 38.75 crore as approved, reflecting his desire to continue to set a personal example for moderation in managerial compensation levels," RIL said in its annual report for 2016-17. His remuneration for 2016-17 included Rs 4.16 crore as salary and another Rs 60 lakh by way of perquisites and allowances. He got retirement benefits of Rs 71 lakh and Rs 9.53 crore as commission on profit. The base salary, allowances, retirement benefits and commission on profit are the same as what he got in 2015-16. Ambani voluntarily capped his compensation at Rs 15 crore in October 2009 amid a debate over right-sizing of CEO salaries. The salary cap continued even as all other executive directors saw their remunerations go up. Ambani's cousins Nikhil R Meswani and Hital R Meswani saw their compensation rise to Rs 16.58 crore each. They had earned Rs 14.42 crore and Rs 14.41 crore, respectively, in the previous year. In 2014-15, they had got Rs 12.03 crore each. Also, one of his key executives, Executive Director P M S Prasad saw his remuneration go up to Rs 7.87 crore in 2016-17, from Rs 7.23 crore in 2015-16 and Rs 6.03 crore in 2014-15. Refinery chief Pawan Kumar Kapil, however, saw his compensation drop to Rs 2.54 crore, from Rs 2.94 crore in 2015 -16. He had earned Rs 2.41 crore in 2014-15. RIL's non-executive directors, including Nita Ambani, also got Rs 1.2 crore each as commission, besides sitting fees. Besides, Nikhil and Hital got stock options worth Rs 64.18 crore each, according to the annual report. Prasad got stock options of Rs 45 crore and Kapil got Rs 1 crore in stock options. Ambani's wife Nita Ambani, a non-executive director on the company's board, earned Rs 4 lakh sitting fee and a commission of Rs 1.35 crore. The sitting fee was lower than Rs 6 lakh she earned in the previous year, but the commission was higher than Rs 1.20 crore in 2015-16. Apart from Ambani, the RIL board has Meswani brothers, Prasad and Kapil as wholetime directors. Besides Nita Ambani, other non-executive directors include Dharam Vir Kapur, Dipak C Jain, Mansingh L Bhakta, Yogendra P Trivedi, Raminder Singh Gujral, Ashok Misra, Raghunath A Mashelkar and Adil Zainulbhai. (PTI)

Mukesh Ambani caps salary at Rs 15 crore for nineth year in a row

2017 Forbes ranking of the<a href="https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/billionaires/list/3/&amp;refURL=http://www.forbesindia.com/article/special/101-indian-billionaires-on-forbess-list-of-worlds-richest-people/46365/1&amp;referrer=http://www.forbesindia.com/article/special/101-indian-billionaires-on-forbess-list-of-worlds-richest-people/46365/1#version:static_country:India"> richest billionaires has 101 Indians </a>making it to the list. The Indian ranking is led by Mukesh Ambani at a net worth of $23.2 billion followed by Lakshmi Mittal with a net worth of $16.4 billion.&nbsp;

But what&rsquo;s new about Forbes ranking this time?&nbsp;

The 101 list of Indian richest people, features four women billionaires we hardly ever hear about. These are women who are heading the biggest industries in the country and are at a crucial position:&nbsp;

<h3>Savitri Devi Jindal: #303</h3>

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Savitri Jindal (Source: Wikipedia) (Others)
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Her real time net worth is $5.8 billion&nbsp;as of 21st March, 2017&nbsp;

She is the mother of former Congress MP Naveen Jindal. Savitri Jindal is the richest women in India, serving as the non-executive chairperson of Jindal Steel &amp; Power Limited. The matriarch has seen the shares of the company fall and rise as soon she came to control things. She was a minister in Haryana government and a member of the Haryana Vidhan Sabha (Legislative Assembly) from Hisar constituency.&nbsp;

<h3>Smita Crishna-Godrej: #814&nbsp;&nbsp; &nbsp;</h3>

&nbsp;

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Smita Crishna Godrej (Source: Be Movement) (Others)
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Her real time net worth is $2.6&nbsp;billion&nbsp;as of 21st March, 2017.

Smita Crishna-Godrej is industrialist Jamshyd Godrej&rsquo;s sister and is married to Vijay Crishna, a director on the board of Godrej Industries Limited. She has one-fifth stake in the family assets. She was in the news recently for having bought a heritage bungalow in south Mumbai in 2014 that once belonged to Homi Bhabha, India&#39;s atomic energy pioneer.

<h3>Kiran Mazumdar-Shaw: #973</h3>

&nbsp;

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Kiran Mazumdar Shaw (Source: Wikimedia Commons) (Others)
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Her real time net worth is $2.3&nbsp;billion&nbsp;as of 21st March, 2017.

Kiran Mazumdar Shaw carries the baton of being India&#39;s richest self-made woman. Her listed company Biocon has more than doubled in the past year. The company is Asia&#39;s largest insulin producer and aims to capture a 10% share of the global market. Mazumdar Shaw is the recipient of Chevalier de l&#39;Ordre National de la L&eacute;gion d&#39;Honneur, France&#39;s highest civilian honour, for her outstanding contribution to bioscience.

<h3>Leena Gandhi Tewari: #1030</h3>

&nbsp;

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Leena Gandhi Tewari (Source: Wikipedia) (Others)
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Her real time net worth is $2.1&nbsp;billion&nbsp;as of 21st March, 2017.

Leena Gandhi Tewari is the chairperson of USV Limited and one of the richest women in India. USV Limited is a leading pharmaceutical firm with leadership in diabetes and cardiovascular fields in India. Currently a $385 million revenue company, USV was started by her late father as a joint venture with Revlon in 1961.&nbsp;

(WION) 
&nbsp;

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There are 101 Indians in the 2017 Forbes richest billionaires list

2017 Forbes ranking of the richest billionaires has 101 Indians making it to the list. The Indian ranking is led by Mukesh Ambani at a net worth of $23.2 billion followed by Lakshmi Mittal with a net worth of $16.4 billion. But what’s new about Forbes ranking this time? The 101 list of Indian richest people, features four women billionaires we hardly ever hear about. These are women who are heading the biggest industries in the country and are at a crucial position: Savitri Devi Jindal: #303 Savitri Jindal (Source: Wikipedia) (Others) × Her real time net worth is $5.8 billion as of 21st March, 2017 She is the mother of former Congress MP Naveen Jindal. Savitri Jindal is the richest women in India, serving as the non-executive chairperson of Jindal Steel & Power Limited. The matriarch has seen the shares of the company fall and rise as soon she came to control things. She was a minister in Haryana government and a member of the Haryana Vidhan Sabha (Legislative Assembly) from Hisar constituency. Smita Crishna-Godrej: #814 Smita Crishna Godrej (Source: Be Movement) (Others) × Her real time net worth is $2.6 billion as of 21st March, 2017. Smita Crishna-Godrej is industrialist Jamshyd Godrej’s sister and is married to Vijay Crishna, a director on the board of Godrej Industries Limited. She has one-fifth stake in the family assets. She was in the news recently for having bought a heritage bungalow in south Mumbai in 2014 that once belonged to Homi Bhabha, India's atomic energy pioneer. Kiran Mazumdar-Shaw: #973 Kiran Mazumdar Shaw (Source: Wikimedia Commons) (Others) × Her real time net worth is $2.3 billion as of 21st March, 2017. Kiran Mazumdar Shaw carries the baton of being India's richest self-made woman. Her listed company Biocon has more than doubled in the past year. The company is Asia's largest insulin producer and aims to capture a 10% share of the global market. Mazumdar Shaw is the recipient of Chevalier de l'Ordre National de la Légion d'Honneur, France's highest civilian honour, for her outstanding contribution to bioscience. Leena Gandhi Tewari: #1030 Leena Gandhi Tewari (Source: Wikipedia) (Others) × Her real time net worth is $2.1 billion as of 21st March, 2017. Leena Gandhi Tewari is the chairperson of USV Limited and one of the richest women in India. USV Limited is a leading pharmaceutical firm with leadership in diabetes and cardiovascular fields in India. Currently a $385 million revenue company, USV was started by her late father as a joint venture with Revlon in 1961. (WION)

Four Indian women billionaires in the Forbes list you didn't know about!

Last week&#39;s three-day Nasscom Leadership Forum actually had a funny start with key speaker Mukesh Ambani saying Trump&rsquo;s protectionist measures could be a boon in disguise for India&rsquo;s IT companies. In a way, it is ironic that the point of view of the very organiser of the forum has been put through a shredder.

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&ldquo;The domestic IT industry can focus on solving problems right here, which is a huge market,&rdquo; India&rsquo;s richest man told the gathering. Nasscom has already lowered its revenue growth estimate for the industry to 8-10 per cent from the 10-12 per cent figure it had predicted last February.

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More than 65 per cent of the Indian IT industry&rsquo;s $155 billion revenue comes from the US. But then, why is Mukesh Ambani so hopeful?

&nbsp;

I have tried my best to find a logical reason behind this and, frankly speaking, I do not see India&rsquo;s private sector to have work or the purse to meet a $100 billion shortfall if push comes to shove.

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However, India&rsquo;s Unique Identification (UID) project, more commonly known to Indians as the Aadhar programme, and Ambani&rsquo;s &ldquo;solving problems&rdquo; quip may act as pointers as to how the Indian IT industry may survive if the American and post-Brexit European workflow takes a nosedive.&nbsp;

&nbsp;

For this, one has to take note of the unbroken continuity of the fundamental economic roadmap that the country has embarked upon for the last decade or so. In this light, the policies of the ruling BJP government led by Prime Minister Narendra Modi do not really differ with those of the previous UPA government that was headed by Manmohan Singh.

&nbsp;

While Modi has been widely panned by critics for his proximity to big businesses and the alleged largesse the latter have enjoyed from this relationship, I think the 2010 Budget speech in Parliament delivered by then finance minister Pranab Mukherjee, who is now the President of the country, has not received enough scrutiny.

&nbsp;

The part of the speech that I refer to above reads: &ldquo;With development and economic reforms, the focus of economic activity has shifted towards the non-governmental actors, bringing into sharper focus the role of government as an enabler. An enabling government does not try to deliver directly to the citizens everything that they need. Instead it creates an enabling ethos so that individual enterprise and creativity can flourish.&rdquo;

&nbsp;

The outsourcing of Project Aadhar was possibly the first step towards realisation of this plan. Various private companies collected biometric data of residents of India. It was originally supposed to do away with multiple identity silos and duplication of cost and efforts. Its stated purpose was to make life easier for the Indian people, as Nandan Nilekani, former chairman of the Unique Identification Authority of India (UIDAI), told me in an interview way back in 2010.

&nbsp;

The project rolled over questions pertaining to infringement of civil liberties, encroachment into personal space and the lack of data protection laws such as the United States Federal Privacy Statute or the European Directive on Data Protection. It was argued that lack of identity was the central roadblock that impeded the poor and the marginalised&rsquo;s access to benefits and subsidies.

&nbsp;

Seven years down, the project has already cost the country <a href="https://uidai.gov.in/new/about-uidai/about-uidai/financials.html">Rs 8277.17 crore ($1.24 billion)</a> in cumulative expenditure and, instead of doing away with duplication of cost and efforts, has added yet another identity silo. And a look at the cost break-up will tell anyone who has gained most from the programme.

&nbsp;

If farmers&rsquo; suicide <a href="http://www.rediff.com/news/column/p-sainath-how-states-fudge-the-data-on-farmer-suicides/20140801.htm">figures</a> are any indicator, India&rsquo;s poor have <a href="http://www.thehindu.com/data/indias-new-farm-suicides-data-myths-and-facts/article7461095.ece">not benefitted</a> from Project Aadhar.

On the other hand, Aadhar has helped Reliance&rsquo;s Jio to add a million subscribers a day, as mentioned by Ambani at the Assocham meet.

I have a strong feeling that the push for &ldquo;Digital India&rdquo; and a digital economy is going to act as the safety valve for the IT industry in case the American dream falls apart. If not, it is going to add substantial revenue to the balance sheet. Only around <a href="http://www.internetlivestats.com/internet-users/india/">35 per cent</a> of Indians had access to the Internet till 2016.

&nbsp;

That leaves plenty of avenues in terms of setting up and upgrade of infrastructure, setting up backends and training the vast mass who have lived on the dark side of the digital divide.

&nbsp;

Whether that comes in the form of private-public partnership or simply outsourced contracts or a mix of both is for time to tell. But it is clear that in crucial areas of deliverance that affects real people, the government has taken a clear backseat, creating an enabling atmosphere for&nbsp;corporate takeover.

&nbsp;

In this light, Mukesh Ambani&rsquo;s optimism is clearly not misplaced but calibrated on the symbiotic relationship between India&rsquo;s political class and the industry.

&nbsp;

&nbsp;

The Indian government has taken a clear backseat in crucial areas of deliverance, creating an enabling atmosphere for corporate takeover

Last week's three-day Nasscom Leadership Forum actually had a funny start with key speaker Mukesh Ambani saying Trump’s protectionist measures could be a boon in disguise for India’s IT companies. In a way, it is ironic that the point of view of the very organiser of the forum has been put through a shredder. “The domestic IT industry can focus on solving problems right here, which is a huge market,” India’s richest man told the gathering. Nasscom has already lowered its revenue growth estimate for the industry to 8-10 per cent from the 10-12 per cent figure it had predicted last February. More than 65 per cent of the Indian IT industry’s $155 billion revenue comes from the US. But then, why is Mukesh Ambani so hopeful? I have tried my best to find a logical reason behind this and, frankly speaking, I do not see India’s private sector to have work or the purse to meet a $100 billion shortfall if push comes to shove. However, India’s Unique Identification (UID) project, more commonly known to Indians as the Aadhar programme, and Ambani’s “solving problems” quip may act as pointers as to how the Indian IT industry may survive if the American and post-Brexit European workflow takes a nosedive. For this, one has to take note of the unbroken continuity of the fundamental economic roadmap that the country has embarked upon for the last decade or so. In this light, the policies of the ruling BJP government led by Prime Minister Narendra Modi do not really differ with those of the previous UPA government that was headed by Manmohan Singh. While Modi has been widely panned by critics for his proximity to big businesses and the alleged largesse the latter have enjoyed from this relationship, I think the 2010 Budget speech in Parliament delivered by then finance minister Pranab Mukherjee, who is now the President of the country, has not received enough scrutiny. The part of the speech that I refer to above reads: “With development and economic reforms, the focus of economic activity has shifted towards the non-governmental actors, bringing into sharper focus the role of government as an enabler. An enabling government does not try to deliver directly to the citizens everything that they need. Instead it creates an enabling ethos so that individual enterprise and creativity can flourish.” The outsourcing of Project Aadhar was possibly the first step towards realisation of this plan. Various private companies collected biometric data of residents of India. It was originally supposed to do away with multiple identity silos and duplication of cost and efforts. Its stated purpose was to make life easier for the Indian people, as Nandan Nilekani, former chairman of the Unique Identification Authority of India (UIDAI), told me in an interview way back in 2010. The project rolled over questions pertaining to infringement of civil liberties, encroachment into personal space and the lack of data protection laws such as the United States Federal Privacy Statute or the European Directive on Data Protection. It was argued that lack of identity was the central roadblock that impeded the poor and the marginalised’s access to benefits and subsidies. Seven years down, the project has already cost the country Rs 8277.17 crore ($1.24 billion) in cumulative expenditure and, instead of doing away with duplication of cost and efforts, has added yet another identity silo. And a look at the cost break-up will tell anyone who has gained most from the programme. If farmers’ suicide figures are any indicator, India’s poor have not benefitted from Project Aadhar. On the other hand, Aadhar has helped Reliance’s Jio to add a million subscribers a day, as mentioned by Ambani at the Assocham meet. I have a strong feeling that the push for “Digital India” and a digital economy is going to act as the safety valve for the IT industry in case the American dream falls apart. If not, it is going to add substantial revenue to the balance sheet. Only around 35 per cent of Indians had access to the Internet till 2016. That leaves plenty of avenues in terms of setting up and upgrade of infrastructure, setting up backends and training the vast mass who have lived on the dark side of the digital divide. Whether that comes in the form of private-public partnership or simply outsourced contracts or a mix of both is for time to tell. But it is clear that in crucial areas of deliverance that affects real people, the government has taken a clear backseat, creating an enabling atmosphere for corporate takeover. In this light, Mukesh Ambani’s optimism is clearly not misplaced but calibrated on the symbiotic relationship between India’s political class and the industry.

If US orders stop, India's IT can count on the political class to bail it out

Reliance Industries said its telecoms unit Jio will extend its free data service to all new and existing customers till March 2017, in a bid to attract more customers to its 4G telecom service amid stiff competition from incumbents.

Reliance Chairman Mukesh Ambani, India&#39;s richest man, said on Thursday (December 01) that through the &quot;Reliance Happy New Offer&quot;, all its new customers from December&nbsp;4 onwards will get free voice and data till March 31, 2017. The free offer was earlier valid till Dec. 31.

&quot;Starting 4th of December, 2016, every new Jio user will get Jio&#39;s data, voice, video and the full of bouquet of Jio applications and content absolutely free till 31st March, 2017,&quot; said Ambani.

He said Jio has already crossed 50 million customers in the three months since launch on September&nbsp;1.

Ambani claimed that the top three telecom companies showed &quot;anti-competitive behaviour&quot; and blocked as many as &quot;900 crore (9 billion)&quot; calls made on the Jio network.

&quot;While customers have shown unprecedented love for Jio services, we have not received the required support from our existing operators. In the last three months, nearly 900 crore (9 billion) voice calls from Jio customers to the networks of our three largest competitors were blocked,&quot; said Ambani.

He said the call drop rate has reduced to 20 percent from 90 percent during the initial days of the launch.

The billionaire tycoon also lauded Prime Minister Narendra Modi&#39;s demonetisation move and said it will pave the way for India to become a digital economy.

&quot;This decision is an important step in his ongoing efforts to change the mindset of the people of India. Digitally enabling transactions will help to create a fair, just, transparent and a strong India and an Indian economy. It will bring unprecedented accountability at every level. I believe that the common people will be the biggest beneficiary of this change,&quot; said Ambani.

Reliance also announced a rollout of Jio Money Merchant Solutions, a mobile payments application, for enabling digital payments for small merchants at their various point of transactions. 
 
(Reuters) 
&nbsp;

Reliance chairman Mukesh Ambani said Jio has already crossed 50 million customers in the three months

Reliance Industries said its telecoms unit Jio will extend its free data service to all new and existing customers till March 2017, in a bid to attract more customers to its 4G telecom service amid stiff competition from incumbents. Reliance Chairman Mukesh Ambani, India's richest man, said on Thursday (December 01) that through the "Reliance Happy New Offer", all its new customers from December 4 onwards will get free voice and data till March 31, 2017. The free offer was earlier valid till Dec. 31. "Starting 4th of December, 2016, every new Jio user will get Jio's data, voice, video and the full of bouquet of Jio applications and content absolutely free till 31st March, 2017," said Ambani. He said Jio has already crossed 50 million customers in the three months since launch on September 1. Ambani claimed that the top three telecom companies showed "anti-competitive behaviour" and blocked as many as "900 crore (9 billion)" calls made on the Jio network. "While customers have shown unprecedented love for Jio services, we have not received the required support from our existing operators. In the last three months, nearly 900 crore (9 billion) voice calls from Jio customers to the networks of our three largest competitors were blocked," said Ambani. He said the call drop rate has reduced to 20 percent from 90 percent during the initial days of the launch. The billionaire tycoon also lauded Prime Minister Narendra Modi's demonetisation move and said it will pave the way for India to become a digital economy. "This decision is an important step in his ongoing efforts to change the mindset of the people of India. Digitally enabling transactions will help to create a fair, just, transparent and a strong India and an Indian economy. It will bring unprecedented accountability at every level. I believe that the common people will be the biggest beneficiary of this change," said Ambani. Reliance also announced a rollout of Jio Money Merchant Solutions, a mobile payments application, for enabling digital payments for small merchants at their various point of transactions. (Reuters)

Reliance Jio extends free data offer to March 2017, Ambani accuses rivals of blocking calls

Mukesh Ambani-led newly launched Reliance Jio network announced that it has gained a record 16 million subscribers during the first month of its operations in September 2016.

The Welcome Offer by Jio was rolled out on September 5 and has since achieved the fastest growth than any other telecom operator or start-up in the world including Facebook, WhatsApp and Skype, ANI news agency reported.

&quot;We are delighted and humbled by the overwhelming response across India to the JioWelcome Offer. Jio is built to empower every Indian with the power of data. We are delighted that people have recognised this and are utilising our services to the fullest.

&quot;We are customer-obsessed and committed to improve every day to exceed expectations of our customers,&quot; Mukesh Ambani, chairman of Reliance Industries Limited said.

The free welcome plan offers free voice calls within India with no roaming charges and free 4G data services up to 4GB daily until December 31. Jio customers will also be able to enjoy access to Jio&#39;s premium apps like JioMusic, MyJio, JioChat, JioMoney and more for free until the&nbsp;end of this year.

Jio is also offering free services worth ?18,000 ($270) for one year to all customers who purchase a new iPhone, Press Trust of India reported on Friday. All new iPhone users on the Jio network can avail free voice calls, 20GB data and unlimited SMS from January 1 of next year after their &quot;welcome plan&quot;&nbsp;expires on December 31, 2016. The offer is open to not only the newly launched iPhone 7 and 7-Plus but also on iPhone 6, 6-Plus, 6S-Plus, SE.

Mukesh Ambani has claimed that Jio&#39;s data plans are the cheapest in the world at ?50/GB.

(WION with inputs from ANI)

The Welcome Offer by Jio rolled out on September 5 offers free voice calls within India with no roaming charges and free 4G data services

Mukesh Ambani-led newly launched Reliance Jio network announced that it has gained a record 16 million subscribers during the first month of its operations in September 2016. The Welcome Offer by Jio was rolled out on September 5 and has since achieved the fastest growth than any other telecom operator or start-up in the world including Facebook, WhatsApp and Skype, ANI news agency reported. "We are delighted and humbled by the overwhelming response across India to the JioWelcome Offer. Jio is built to empower every Indian with the power of data. We are delighted that people have recognised this and are utilising our services to the fullest. "We are customer-obsessed and committed to improve every day to exceed expectations of our customers," Mukesh Ambani, chairman of Reliance Industries Limited said. The free welcome plan offers free voice calls within India with no roaming charges and free 4G data services up to 4GB daily until December 31. Jio customers will also be able to enjoy access to Jio's premium apps like JioMusic, MyJio, JioChat, JioMoney and more for free until the end of this year. Jio is also offering free services worth ?18,000 ($270) for one year to all customers who purchase a new iPhone, Press Trust of India reported on Friday. All new iPhone users on the Jio network can avail free voice calls, 20GB data and unlimited SMS from January 1 of next year after their "welcome plan" expires on December 31, 2016. The offer is open to not only the newly launched iPhone 7 and 7-Plus but also on iPhone 6, 6-Plus, 6S-Plus, SE. Mukesh Ambani has claimed that Jio's data plans are the cheapest in the world at ?50/GB. (WION with inputs from ANI)

Reliance Jio's 'welcome plan' draws 16 million subscribers in first month

The newly launched Mukesh Ambani-led Reliance Jio network is offering free services worth ?18,000 ($270)&nbsp;for one year to all new iPhone users, Press Trust of India reported today.

All new iPhone users on the Jio network can avail free voice calls, 20GB data and unlimited SMS from January 1 of next year after their &quot;welcome plan&quot;&nbsp;expires on December 31, 2016.

The sources said that the iPhone users under Jio&#39;s network will receive one year of complimetary service.

A customer who buys an iPhone from Reliance Retail or Apple store and subscribe to Jio would get the &quot;Welcome offer&quot;&nbsp;paid until the&nbsp;end of this year. From January&nbsp;1, 2017, the consumers will get the ?1,499 (about $23) plan completely free for one&nbsp;year, amounting to ?18,000 in total.

The ?1,499 plan includes unlimited local and STD voice calling and national roaming, 4G Data of up to 20 GB, unlimited 4G data at night, 40GB of WiFi data, unlimited SMS and unlimited Jio Apps subscription, PTI reported.

The offer is open to not only the newly launched iPhone 7 and 7-Plus but also on iPhone 6, 6-Plus, 6S-Plus, SE. Enterprise customers will additionally get a 25 per cent discount on the device and attractive tariff plans.

The free welcome plan offered free voice calls within India with no roaming charges and free 4G data services upto 4GB daily.

(WION with inputs from PTI)

All new iPhone users will receive complimentary services for a year after the welcome plan expires on 31st December 2016

The newly launched Mukesh Ambani-led Reliance Jio network is offering free services worth ?18,000 ($270) for one year to all new iPhone users, Press Trust of India reported today. All new iPhone users on the Jio network can avail free voice calls, 20GB data and unlimited SMS from January 1 of next year after their "welcome plan" expires on December 31, 2016. The sources said that the iPhone users under Jio's network will receive one year of complimetary service. A customer who buys an iPhone from Reliance Retail or Apple store and subscribe to Jio would get the "Welcome offer" paid until the end of this year. From January 1, 2017, the consumers will get the ?1,499 (about $23) plan completely free for one year, amounting to ?18,000 in total. The ?1,499 plan includes unlimited local and STD voice calling and national roaming, 4G Data of up to 20 GB, unlimited 4G data at night, 40GB of WiFi data, unlimited SMS and unlimited Jio Apps subscription, PTI reported. The offer is open to not only the newly launched iPhone 7 and 7-Plus but also on iPhone 6, 6-Plus, 6S-Plus, SE. Enterprise customers will additionally get a 25 per cent discount on the device and attractive tariff plans. The free welcome plan offered free voice calls within India with no roaming charges and free 4G data services upto 4GB daily. (WION with inputs from PTI)

Reliance Jio free service to new iPhone users for one year

Indian industrialist Mukesh Ambani has topped Forbes Magazine&#39;s list of 100 richest Indians for the ninth year in a row with earnings of $22.7 billion. Sun Pharma&rsquo;s Dilip Shanghvi&#39;s $16.9 billion place him at a distant second. The Hinduja siblings,&nbsp;Srichand, Gopichand, Prakash, and Ashok,&nbsp;are at the third spot with earnings of $15.2, displacing Wipro&#39;s Azim Premiji who has slipped to number 4 with earnings of $15 billion. 
 
The surprise entry this year is Patanjali Ayurved&rsquo;s Acharya Balkrishna, a close associate of India&#39;s famous yoga guru, Ramdev, whose net worth of&nbsp;$2.5 billion have fetched him the 48th spot. &nbsp; 
 
The youngest among the six newcomers in the list are internet entrepreneurs, brothers Bhavin and Divyank Turakhia, who sold their ad tech firm Media.net for USD 900 million to a consortium of Chinese investors. They are at the 95th spot with a net worth of $1.3 billion. Hero group scion Pawan Munjal&#39;s debuted at 29th place with earnings of 3.65 billion. 
 
Eight persons find their way back in this year&#39;s list including Biocon&rsquo;s Kiran Mazumdar-Shaw whose earnings of $1.83 billion place her on the 65th spot. 
 
The combined net worth of India&#39;s 100 wealthiest is $381 billion,&nbsp;an increase of 10 per cent&nbsp;from 2015&#39;s $345 billion. &quot;Handsome gains&quot; in the stock market is the reason why a majority of the names figure in the list, Forbes Asia&rsquo;s India Editor Naazneen Karmali told PTI. 
 
The increase in the wealth of Mukesh Ambani, whose Reliance Industries recently launched the much-awaited 4G mobile services, is on account of a 21 per cent&nbsp;surge in share price of Reliance Industries in the past 12 months. He ranked 36th in the Forbes global rich list. His younger brother and industrialist, Anil Ambani, is at number&nbsp;32 with earnings of $3.4 billion, down from 29th spot last year as per the list for India. 
 
Forbes also said the fortunes of cement and paint tycoons in the country benefitted from the government&rsquo;s infrastructure push and housing-for-all policy. Shree Cement&rsquo;s Benu Gopal Bangur moved up to the 14th place with a networth of USD 5.9 billion, while Asian Paints&rsquo; Ashwin Dani saw his wealth rise to USD 3.3 billion to rank him 34th. 
 
Among those who didn&#39;t make it this year was textile tycoon Balkrishan Goenka and the co-founders of Flipkart,&nbsp;Sachin Bansal and Binny Bansal. 
 
The minimum amount required to make the list was $1.25 billion, up from $1.1 billion in 2015.&nbsp;

(WION with inputs from PTI)

Sun Pharma?s Dilip Shanghvi is at the second spot while the Hinduja siblings are at number 3

Indian industrialist Mukesh Ambani has topped Forbes Magazine's list of 100 richest Indians for the ninth year in a row with earnings of $22.7 billion. Sun Pharma’s Dilip Shanghvi's $16.9 billion place him at a distant second. The Hinduja siblings, Srichand, Gopichand, Prakash, and Ashok, are at the third spot with earnings of $15.2, displacing Wipro's Azim Premiji who has slipped to number 4 with earnings of $15 billion. The surprise entry this year is Patanjali Ayurved’s Acharya Balkrishna, a close associate of India's famous yoga guru, Ramdev, whose net worth of $2.5 billion have fetched him the 48th spot. The youngest among the six newcomers in the list are internet entrepreneurs, brothers Bhavin and Divyank Turakhia, who sold their ad tech firm Media.net for USD 900 million to a consortium of Chinese investors. They are at the 95th spot with a net worth of $1.3 billion. Hero group scion Pawan Munjal's debuted at 29th place with earnings of 3.65 billion. Eight persons find their way back in this year's list including Biocon’s Kiran Mazumdar-Shaw whose earnings of $1.83 billion place her on the 65th spot. The combined net worth of India's 100 wealthiest is $381 billion, an increase of 10 per cent from 2015's $345 billion. "Handsome gains" in the stock market is the reason why a majority of the names figure in the list, Forbes Asia’s India Editor Naazneen Karmali told PTI. The increase in the wealth of Mukesh Ambani, whose Reliance Industries recently launched the much-awaited 4G mobile services, is on account of a 21 per cent surge in share price of Reliance Industries in the past 12 months. He ranked 36th in the Forbes global rich list. His younger brother and industrialist, Anil Ambani, is at number 32 with earnings of $3.4 billion, down from 29th spot last year as per the list for India. Forbes also said the fortunes of cement and paint tycoons in the country benefitted from the government’s infrastructure push and housing-for-all policy. Shree Cement’s Benu Gopal Bangur moved up to the 14th place with a networth of USD 5.9 billion, while Asian Paints’ Ashwin Dani saw his wealth rise to USD 3.3 billion to rank him 34th. Among those who didn't make it this year was textile tycoon Balkrishan Goenka and the co-founders of Flipkart, Sachin Bansal and Binny Bansal. The minimum amount required to make the list was $1.25 billion, up from $1.1 billion in 2015. (WION with inputs from PTI)

Reliance Industries' Mukesh Ambani tops Forbes' list of 100 Richest Indians

India&#39;s national telecom service Bharat Sanchar Nigam Limited (BSNL) is all set to cut its tariffs to compete with Mukesh Ambani&#39;s Reliance Jio, according to Indian media reports. 
&nbsp;
<div class="twitter-block">
<blockquote class="twitter-tweet" data-lang="en">
<a href="https://twitter.com/hashtag/BSNL?src=hash">#BSNL</a> will also launch with lifetime free voice plans from 2017 onwards as part of our renewed offerings <a href="https://t.co/KDuToEMsNc">https://t.co/KDuToEMsNc</a>
&mdash; Anupam Shrivastava (@CMDBSNL) <a href="https://twitter.com/CMDBSNL/status/778839067085594626">September 22, 2016</a></blockquote>
<script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script></div>
 
BSNL chairman and managing director Anupam Shrivastava told the media, &quot;We are closely observing the market as well as Jio&#39;s performance. We will also come up with lifetime free-voice plans from the new year as part of fresh offerings.&quot; 
 
&quot;We plan to be even lower than the Jio plan, and this could be by Rupees 2-4,&quot; he said. 
 
Before the launch, Mukesh Ambani had said that&nbsp;Jio would be available for free until December 31, even as the network tests continue. 
 
Jio&#39;s roaming charge is free for now and a base rate of Rupees 50 ($0.7468) per gigabyte of data will be charged later. For people who use more data, the price will fall even more. 
 
However, BSNL is planning to top this by offering free voice calls, but unlike Jio it will offer this to 2G, 3G and 4G subscribers. 
 
(WION) 
 
&nbsp;

BSNL chairman and managing director Anupam Shrivastava said that lifetime free voice plans will be offered from 2017

India's national telecom service Bharat Sanchar Nigam Limited (BSNL) is all set to cut its tariffs to compete with Mukesh Ambani's Reliance Jio, according to Indian media reports. #BSNL will also launch with lifetime free voice plans from 2017 onwards as part of our renewed offerings https://t.co/KDuToEMsNc — Anupam Shrivastava (@CMDBSNL) September 22, 2016 BSNL chairman and managing director Anupam Shrivastava told the media, "We are closely observing the market as well as Jio's performance. We will also come up with lifetime free-voice plans from the new year as part of fresh offerings." "We plan to be even lower than the Jio plan, and this could be by Rupees 2-4," he said. Before the launch, Mukesh Ambani had said that Jio would be available for free until December 31, even as the network tests continue. Jio's roaming charge is free for now and a base rate of Rupees 50 ($0.7468) per gigabyte of data will be charged later. For people who use more data, the price will fall even more. However, BSNL is planning to top this by offering free voice calls, but unlike Jio it will offer this to 2G, 3G and 4G subscribers. (WION)

BSNL trumps Reliance Jio, offers lower tariffs

India&#39;s richest man Mukesh Ambani today unveiled an ambitious roll-out plan, sending shares of rival Bharti Airtel plummeting about seven per cent. 
 
Reliance Industries&#39; long-awaited 4G multi-billion-dollar telecommunications network, called Reliance Jio Infocomm,would finally launch this month, Ambani told shareholders at the company&#39;s 42nd annual general meeting. 
 
Aimed at revolutionising mobile internet connectivity, the venture is &ldquo;dedicated to Indian Prime Minister Narendra Modi&rsquo;s Digital India dream&rdquo;, he said.&nbsp; 
 
The ambitious plan would be rolled out from September 5 following repeated delays. Under the plan, Reliance Industries Ltd will offer free domestic voice calls and rock-bottom data prices on its new Jio mobile phone network until the end of the year. &nbsp; 
 
The Reliance Industries chairman said it would cover 90 per cent of India&#39;s 1.25 billion population by March 2017. &nbsp;The company has invested about $50 billion in the project.
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<h5>The Reliance Industries chairman said it would cover 90 per cent of India&#39;s 1.25 billion population by March 2017</h5>
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<div class="share-blockquote"><a 1.25="" 2017="" billion="" by="" class="twitter popup" href="http://twitter.com/intent/tweet?text=The Reliance Industries chairman said it would cover 90 per cent of India" march="" population="" s="">&nbsp;</a></div>
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Jio would be available for free until December 31 as it continues network tests, Ambani said. He, however, didn&#39;t say when the company would launch commercial services. 
 
Also set to offer free roaming to all clients across the country, Jio will eventually charge a base rate of about 50 rupees ($0.7468) per gigabyte of data, and data charges will fall even more for heavier data users. The rates are about one-fifth of prevailing data costs in the country.&nbsp; 
 
Long anticipated in India, Jio could make Reliance the country&#39;s most comprehensive provider of telecom and internet services across the country, a key plank of Ambani&#39;s future strategy even though Jio is unlikely to contribute significantly to Reliance profit anytime soon. 
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<h5>Long anticipated in India, Jio could make Reliance the country&#39;s most comprehensive provider of telecom and internet services across the country</h5>
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&quot;(Jio) is future-ready, and can easily be upgraded to support even more data as technologies advance,&quot; said Ambani. 
 
&quot;We&#39;ll be able to provide an abundance of high-quality high-speed data and transform India from a high-priced data market to one with the lowest data rates anywhere in the world.&quot; 
 
Some key Reliance Jio features announced today were: 
 
Highest network capacity: 70 per cent coverage at launch
<ul>
	<li>4G internet in 18,000 Indian towns and two lakh villages</li>
	<li>Increased per person data consumption, from the current 0.15 GB to 5 GB per month</li>
	<li>The network is ready for 5G and 6G internet</li>
	<li>LYF devices: 4G-enabled smart-phones beginning from Rs 2,999</li>
	<li>Jio Fi: Wifi router for Rs 1,999</li>
	<li>Apps and content:</li>
</ul>
1) Jio TV - 300 plus live TV channels and 40 HD channels 
2) Jio Cinema (HD) - 6,000 movies, 60,000 music videos, one lakh episodes (Also in 10 Indian regional languages) 
3) Jio money: personal wallet to go cashless 
4) Jio music: 2.8 million songs
<ul>
	<li>From September 5 to December 31 - Free data worth Rs 15,000</li>
	<li>Customer pays only for one service (internet data)</li>
	<li>Aadhar-based service, connection functional within 15 minutes</li>
	<li>One million Wifi hotspots across India</li>
	<li>No blackout days (on extra charges on festival days)</li>
	<li>Data at Rs 50/GB (5 ps/MB). Current industry rate: Rs 250/GB</li>
	<li>No charges for voice calls, no roaming charges either</li>
	<li>Unlimited data access during nights</li>
	<li>25 per cent extra data for students with valid ID proof</li>
</ul>
 
Ambani claimed a &ldquo;highest quality and lowest price data market in the world&rdquo; with these services while he urged other operators to provide better interconnectivity. 
 
(WION)

The company has invested about $50 billion in the project that is aimed at revolutionising mobile internet connectivity

India's richest man Mukesh Ambani today unveiled an ambitious roll-out plan, sending shares of rival Bharti Airtel plummeting about seven per cent. Reliance Industries' long-awaited 4G multi-billion-dollar telecommunications network, called Reliance Jio Infocomm,would finally launch this month, Ambani told shareholders at the company's 42nd annual general meeting. Aimed at revolutionising mobile internet connectivity, the venture is “dedicated to Indian Prime Minister Narendra Modi’s Digital India dream”, he said. The ambitious plan would be rolled out from September 5 following repeated delays. Under the plan, Reliance Industries Ltd will offer free domestic voice calls and rock-bottom data prices on its new Jio mobile phone network until the end of the year. The Reliance Industries chairman said it would cover 90 per cent of India's 1.25 billion population by March 2017. The company has invested about $50 billion in the project. The Reliance Industries chairman said it would cover 90 per cent of India's 1.25 billion population by March 2017 Jio would be available for free until December 31 as it continues network tests, Ambani said. He, however, didn't say when the company would launch commercial services. Also set to offer free roaming to all clients across the country, Jio will eventually charge a base rate of about 50 rupees ($0.7468) per gigabyte of data, and data charges will fall even more for heavier data users. The rates are about one-fifth of prevailing data costs in the country. Long anticipated in India, Jio could make Reliance the country's most comprehensive provider of telecom and internet services across the country, a key plank of Ambani's future strategy even though Jio is unlikely to contribute significantly to Reliance profit anytime soon. Long anticipated in India, Jio could make Reliance the country's most comprehensive provider of telecom and internet services across the country "(Jio) is future-ready, and can easily be upgraded to support even more data as technologies advance," said Ambani. "We'll be able to provide an abundance of high-quality high-speed data and transform India from a high-priced data market to one with the lowest data rates anywhere in the world." Some key Reliance Jio features announced today were: Highest network capacity: 70 per cent coverage at launch 4G internet in 18,000 Indian towns and two lakh villages Increased per person data consumption, from the current 0.15 GB to 5 GB per month The network is ready for 5G and 6G internet LYF devices: 4G-enabled smart-phones beginning from Rs 2,999 Jio Fi: Wifi router for Rs 1,999 Apps and content: 1) Jio TV - 300 plus live TV channels and 40 HD channels 2) Jio Cinema (HD) - 6,000 movies, 60,000 music videos, one lakh episodes (Also in 10 Indian regional languages) 3) Jio money: personal wallet to go cashless 4) Jio music: 2.8 million songs From September 5 to December 31 - Free data worth Rs 15,000 Customer pays only for one service (internet data) Aadhar-based service, connection functional within 15 minutes One million Wifi hotspots across India No blackout days (on extra charges on festival days) Data at Rs 50/GB (5 ps/MB). Current industry rate: Rs 250/GB No charges for voice calls, no roaming charges either Unlimited data access during nights 25 per cent extra data for students with valid ID proof Ambani claimed a “highest quality and lowest price data market in the world” with these services while he urged other operators to provide better interconnectivity. (WION)

Reliance Jio to be world's 'lowest priced mobile internet data'

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