Jio won't lose money; expect 18-19% returns: Mukesh Ambani

Zee Media Bureau

New Delhi: Reliance Industries Chairman Mukesh Ambani has said that RIL is not looking for killer returns from its most anticipated telecom venture –Jio, but exuded confidence that it will give 18-19 percent returns.

In an exclusive interview with Times of India, Ambani talked at length about competition in the telecom market, customer experience, regulations and a vast opportunity that lies ahead.

Talking about telecom competitors like Airtel, Idea and Vodafone, Ambani said that he has utmost regard and appreciation for these companies.

On being asked about call drops, Ambani accepted that Jio customers are facing such issues. He said that Jio customers will soon “figure out that nothing is wrong with the service”.

“It is there in the license that you are supposed to provide inter-connect. In fact, you are supposed to provide it irrespective of the traffic,” he told TOI.

Ambani hinted that telecom companies “cannot break the law beyond a few weeks”.

Storming his way into the telecom industry, Mukesh Ambani last week announced free voice calls and free national roaming along with rock- bottom data prices on his new Reliance Jio network that debuted on September 5.

Voice calling will be free on Jio phones for life and post December 31, 10 data plans will be offered starting at Rs 19 a day for occasional users, Rs 149 a month for low data users and Rs 4,999 a month for heavy data users.