HomeNewsDon't rely on govt, regulators for profit: Reliance Jio's Mukesh Ambani tells...

Don’t rely on govt, regulators for profit: Reliance Jio’s Mukesh Ambani tells Airtel and co

Telcos have been complaining against Jio's aggressive tariffs saying that it is hurting their profits.

RIL chariman Mukesh Ambani today advised the telecom operators to stop relying on government and the regulator to increase their profits.

While speaking at the HT Leadership Summit, Ambani said, “For all of us in the industry, I think profits and losses are risks that we take. I don’t think we can rely on governments and regulators to guarantee our profits or losses.”

Telcos have been complaining against Jio’s aggressivetariffs saying that it is hurting their profits. Jio and others are often at loggerheads on various issues including like IUC (interconnection usage charge).

“To me, what is most important is did we move the country forward and does the consumer gain. The question… you should be thinking about is even if there are profits and losses, who gains and who loses. And as long as the consumer gains and the country moves forward, it is worth taking those losses… Some of us are big boys, we can afford that,” he added.

“At Reliance, we want to be the best in the world. I am sorry if it appears competitive,” Ambani further said.

He also exuded confidence that Jio will soon turn profitable.

Terming data as the new soil, Ambani said that Indian consumers are now consuming more data than their peers in USA and China.

“As Internet becomes accessible to all Indians, I believe we will be among the first to graduate to the Internet of Everything,” he added.

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