Reliance Industries telecom arm Jio will start rolling out 5G services for its customers by Diwali this year, the conglomerate’s Chairperson Mukesh Ambani said on Monday at the annual general meeting of the company.

“By Diwali 2022 we will launch Jio 5G across multiple key cities, including metro cities of Delhi, Mumbai, Chennai and Kolkata,” Ambani said. “By December 2023, we will deliver Jio 5G to every town, taluka and tehsil of India.”

Reliance Jio has earmarked Rs 2 lakh crore to roll out 5G services, Ambani added. He said that Jio currently has 42.1 crore mobile internet customers on its 4G network. These users consume nearly 20 GB of data every month, Ambani said.

He also identified his youngest son Anant Ambani as leader of his new energy business and daughter Isha Ambani as leader of the group’s retail business at the annual shareholders’ meeting of his conglomerate.

On August 1, Reliance Jio had emerged as the biggest bidder in India’s largest-ever auction of 5G spectrum. The company had acquired a total of 24,740 MHz of spectrum for Rs 88,078 crore. The Adani Group, which participated in the 5G spectrum auction for the first time, also bought 400 MHz for Rs 212 crore, marking its entry into the telecom sector.

Meanwhile, Bharti Airtel bought a 19,867 MHz airwave across different bands for Rs 43,084 crore. Last week, Bharti Enterprises Chairperson Sunil Mittal had said that Bharti Airtel was also preparing to launch its 5G services in October, the Economic Times reported.