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They met, they greeted each other as if they were long-lost friends, they smiled for the cameras. Were these the chairmen of tow companies engaged in a ho-holds barred fight over the last year?
on stage together for the first India Mobile Congress, Mukesh Ambani, chairman of Reliance Industries Ltd-owned Jio and Sunil Mittal, chairman of Bharti Airtel Ltd, temporarily dropped their adversarial stance for a rare show of camaraderiee, calling each other friends and vowing to collaborate and promote technologies such as artificial intelligence, robotics, internet of thihngs and cloud computing, technologies which Ambani called "enablers of a new wave of wealth and employment for all".
Forgotten briefly was the battle of the tow giants dating back to 2002 when Ambani launched Reliance Infocom in competition with Airtel. The two firms resumed hostilities last after a 10-year hiatus. On wednesday, Ambani said:"We have to invest in building next-generation technology assets We have to rot out inefficiencies across the digital ecosystem. And we must break silos and forge partnerships. No single corporate nor the government, can do it along. Together, we can achieve the unimaginable."
It was a significant statement since it came after a closed-door meeting with Mittal and telecom minister Manoj Sinha.
It was a significant statement since it came after a closed-door meeting with Mittal and telecom minister Manoh Sinha.
Mittal was equally pacifist: "As Mukesh pointed out, none of us can do it alone. We will all have to come together for the benefits of customers. We have to collaborate ourselves, create an ecosystem, use common towers, hopefully common fibres...We will need to combine the forces with the government. I hope, together with friends like Mukesh Ambani, we will build something for the future. Airtel is locked in a fierce turf was with Jio, which has sought to disrupt the market leadr's dominance through a series of ultra-cheap services and , now, affordable handsets. The two have also sparred over the so-called IUC or interconnected usage charges livised by a telco for terminating a call from another telco . Last week, the telecom regulator cut the chair in a move that benefits Jio and disadvantages stockholders such as Airtel. Jio has also argued against a bailout pack age for telcos that this being a considered by the government.
Ambani chose to sidestep the regulatory battle the tow companies are engaged in a altogether and said that the India mobile market is now overflowing with data and the industry has worked to
create a robust digital circulatory system" to carry data t each one of 1.3 million Indians.
Still, it'a system in considerable distress o account of Jio's aggressive move in the market and it remains to be seen if MIttal and Ambani meant what they say.