Reliance Industries’ subsidiary -- Reliance Jio Infocomm (Jio) has received a $2.2 billion fund support from the Swedish export credit agency to finance equipment for the 5G rollout. The company has largely procured telecom gears from Swedish firm Ericsson and Finnish company Nokia to deploy its 5G network. While there has been a decline in telecom gear shipment across major geographies, 5G rollout in India led by Reliance Jio has been able to offset the dip in business of Ericsson and Nokia.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
