India's richest man unveils broadband plan
India's richest man Mukesh Ambani, who turned the country's mobile market upside down by offering free voice calls for life, is zeroing in on a new market -- broadband internet.
Ambani told shareholders Thursday that Reliance Industries, his oil-to-telecoms conglomerate, will roll out fibre broadband across 1,100 Indian cities.
"We will now extend fibre connectivity to homes, merchants, small and medium enterprises and large enterprises simultaneously," he told investors in Mumbai.
His ambitious foray into fibre-based broadband would be "the most advanced" in the country, Ambani told shareholders at Reliance's annual general meeting.
The announcement is likely to send a chill up the spines of India's broadband providers as the hugely wealthy conglomerate expands its drive into internet services.