Reliance to spend â¹18,000 crore more on Jio
Reliance Industries plans to spend a further $2.8 billion (â¹18,000 crore) on Jio in the current quarter, taking its investment in the venture to over $30 billion. Announcing record profit for 2016-17, Reliance said the additional investment is required for its fibre network. Notably, "Jio is witnessing the largest migration from free to paid services in history," Mukesh Ambani said.