NEW DELHI— Mukesh Ambani, India s richest man, on Thursday outlined his plans to shake up the country s telecommunications industry through his new cellular company, which aims to steal customers from the competition and bring millions of Indians online for the first time by offering data at unprecedented rates.
The chairman of Reliance Industries Ltd. EQRELIANCE -0.90 % , told its annual general meeting that its wireless phone unit, Reliance Jio Infocomm Ltd., will undercut its competitors by offering data for 50 rupees 75 cents per gigabyte and monthly plans for as little as 149 rupees $2.23 .
The first group of users signing up for the new platform, which launches Monday, will be offered free service until next year, Mr. Ambani said.
Life is going digital, Mr. Ambani said, referring to increased usage of smartphone-based services like mobile messaging and phone calls over the internet, noting that his goal was to offer the lowest data rates anywhere in the world.
Mr. Ambani said Reliance Jio will provide India s first mobile network running entirely on high-speed standards known as 4G and LTE, or fourth generation and long-term evolution.
While Reliance Jio is a latecomer, Mr. Ambani has been laying the groundwork for years for his grand entrance into the highly-competitive market.