World’s Lowest Internet Tariff And $750M For Startups: Reliance’s 2-in-1 Offer To Win India

Indian business conglomerate Reliance Industries has a two-in-one offer to win over India’s internet consumers -data tariffs below one US dollar per GB for the new Reliance Jio telecom service, and a US$750 million fund for tech startups. Jio plans to create entrepreneurship hubs in cities across India. Reliance already has a GenNext startup incubator in partnership with Microsoft Ventures.
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Reliance Industries To Invest $16 Million In Vision Analytics Startup NetraDyne

Reliance Industries is investing $16 million in NetraDne, a vision analytics startup founded by former Qualcomm India & South Asia president Avneesh Agrawal. This investment will be made through the subsidiary Reliance Industrial Investments and Holdings in two different tranches. The first tranche of 50% was invested on May 30 while next tranche will be invested by May 30, 2017.  
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Reliance Posts 12.5% Rise In Profits

India’s Reliance Industries posted a quarterly profit of $1-billion for the three months to September-30th on Friday. Mukesh Ambani, the owner of Reliance Industries, also benefited from a near 50% drop in the cost of raw materials to post a 12.5% profit rise for the second quarter. Bloomberg expected Reliance to report just a 2.4% rise in profits.
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