Reliance Industries Chairman Mukesh Ambani on Thursday announced the launch of fixed-line broadband services Jio GigaFiber.

"We will extend fiber connectivity to homes, merchants, small and medium enterprises and large enterprises simultaneously across 1,100 cities to offer the most advanced fiber-based broadband connectivity solutions," said Mukesh Ambani while addressing the shareholders at the Reliance Industries' 41st Annual General Meeting.

While explaining the broadband for large enterprises, Ambani said that fixed-line broadband will mean having the ability to compete in the global marketplace, using digital tools and techniques that are powering the fourth industrial revolution.

"Jio GigaFiber will provide ultra high-definition entertainment on large screen TVs, multi-party video conferencing from a living room, voice-activated virtual assistance, virtual reality gaming, digital shopping and immersive experiences," added Mukesh Ambani.

He added that the for merchants and small businesses, fixed-line broadband will enable fixed-line connectivity with the agility and customer obsession of a small owner-driven business you empower them to compete on level terms with larger businesses.

Reliance Industries Chairman Mukesh Ambani on Thursday said that Reliance is India's largest payer of Goods and Services Tax (GST), Excise and Customs Duty, and Income Tax in the private sector.

Speaking at the Reliance Industries' 41st Annual General Meeting, Mukesh Ambani highlighted that Jio's subscribers grew from 124 million at the end of last year to 210 million at the end of FY18.

"Jio and retail's share in overall EBITDA from 2 percent to 13 percent," he said while adding that Jio is now India's most widespread mobile network that has a larger reach than even the 2G players.