Weekend Bites: Mukesh Ambani’s ides of July, and the threat of Threads
(Yes, dear member of Gen X, Y, Z, and any letter out there now, there was a time when we paid good money for cellphone calls we made as well as those we received).
Announcing Monsoon Hungama, Ambani said he wanted to usher in a digital revolution in India.
In July 2017, Reliance Jio, the group’s third upcoming telecom company, launched the Jio Phone, which Ambani said was effectively free (the security deposit of Rs 1,500 is refundable) and would reinvent the feature phone.
This month — again, in July — Reliance Jio announced its intention to reinvent the smartphone.
Story of the week
On Monday, Reliance Geo announce Jio Bharat V2 is priced at Rs 999.
Stressing that India’s 250 million feature phone users represent a wide digital divide, the company said its new handset provides affordable, high-quality data to economically weaker segments.
Jio also announced a bundled monthly plan of Rs 123 — as opposed to the minimum monthly plans of Rs 179 offered by other providers. It includes 14 GB of data, seven times more than what Jio’s competitors offer. Jio annual plan is Rs 1,234. Both plans include unlimited calls.
Attacking its competitors, Bharti Airtel and Vodafone Idea, for raising entry-level tariffs, Jio said feature phone users face increasing digital disempowerment and inequality. It said basic voice services for 30 days, which previously cost 99 rupees, are now priced at 199 rupees.
Reliance Geo Ho targeting 40 percent of 2G subscribers in the country in the next few years. The phone comes with apps like Jio Saavn, Jio Cinema, UPI, Camera, and FM Radio.
In short, July is unlikely to be the preferred month for Jio’s competitors.
In other news…
An interdepartmental group of the Reserve Bank of India (RBI), set up to examine Internationalization of the rupeeSteps are recommended for transactions in the local currency common in other countries, thus reducing dependence on the dollar.
Google said, in its latest appeal to the Supreme Court, that the Competition Commission of India was protect the interests of Amazon.
India appears Prepare to keep growing In a more permanent way than before, according to the annual economic report for 2022-23 released by the Ministry of Finance on Thursday.
Fifty to 60 organizations – principally co-operative banks, nidhi firms, forex dealers and sub-registrars dealing in immovable property – have come under Income Tax Department Scanner.
Gujarat High Court on Friday eviction Congress leader Rahul Gandhi has asked that his conviction in a criminal defamation case be stayed over his remark of “Modi’s nickname”.
Tomato prices are on the risesparking a wave of memes on social media comparing them to anything from petroleum to political influence.
Tech that: A word from the tech and startup world
The government has Keep the main provisions of the Digital Personal Data Protection Bill, 2022, including penalties for data breaches, parental consent for children’s data, and deemed consent. On Wednesday, the Federal Cabinet approved the project.
Watch it: who morning show
Will rising tomato prices spoil the taste of the RBI’s recent success against inflation? Watch a good finger-licking story here.
What is obsessing over Suveen?
Did you, by any chance, find this Twitter newsletter? She’s getting eyeballs there, as well as on other social platforms. Now, another one will likely be added to the list.
Business Standard is now on topics, which once again proves our team’s very smart and modern digital approach. (Let me hasten to deny the circulating rumors that the last sentence was written under the forced threat of the digital editor, who is also very handsome.)
more serious, Twitter is facing its most credible challenge in a long time In the form of Meta’s Instagram-owned competitor to the blue bird. Threads will work similarly to Twitter, with text posts that can be liked, commented on, and shared. People will be able to follow the accounts they follow on Instagram and keep the same usernames.
Interest among users, including celebrities like Sachin Tendulkar, was evident from the sign-ups. According to Mark Zuckerberg over at Meta, it was Threads 30 million subscriptions globally on the first day of launch.
here It is all you need to know about topics.
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(Suveen Sinha is the Chief Content Editor at business standard)