Reliance Industries chairman Mukesh Ambani said on Monday his new telecom venture Jio is not a gamble but a well thought-out and well-engineered business, while terming the trouble with inter connectivity as similar to a meritorious student "getting ragged". About the troubles Jio had with the regulator and the incumbents, he said, "Yes we had troubles" and compared it to a bright student getting admission into prestigious institute on merit but getting ragged in the hostel for being meritorious. At the much-delayed launch last month, Ambani had said the company had invested Rs 1.5 trillion into his new venture. Stating that Jio meets all the criteria of investment that Reliance has set out openly, Ambani said, "Reliance at this scale and size will not do anything that does not create huge societal value. Jio had brought about an opportunity for all incumbent operators to work together and take the nation to the next level of digital revolution, Ambani said.

Source: dna October 17, 2016 18:56 UTC