Reliance Jio Infocomm (RJIL), the telecom unit of Reliance Industries (RIL), has tied up $2.2 billion in funding from the Swedish Export Credit Agency (EKN) for the purchase of 5G equipment. This is the largest amount of funding that EKN has ever provided to a private company globally.
The funding will be used to purchase equipment from Ericsson and Nokia, two of the leading 5G equipment manufacturers. The equipment will be used to roll out RJIL's 5G network in India.
The funding from EKN is a significant vote of confidence in RJIL's 5G plans. It also shows that EKN is confident in the Indian 5G market.
RJIL is one of the leading telecom operators in India, and it has been aggressive in its 5G plans. The company has already started testing its 5G network in some cities, and it plans to launch commercial 5G services in India in the coming months.
The funding from EKN will help RJIL to accelerate its 5G rollout. It will also help the company to compete with other telecom operators in India, such as Bharti Airtel and Vodafone Idea, which are also planning to launch 5G services in the coming months.
The 5G market in India is still in its early stages, but it is expected to grow rapidly in the coming years. The funding from EKN is a sign that the global investment community is confident in the Indian 5G market.
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