Reliance Jio has earmarked Rs 2 lakh crore investment for 5G network and plans to launch the high-speed services in key cities by Diwali, RIL Chairman Mukesh Ambani said on Monday.

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While speaking at Reliance Industries' 45th annual general meeting, Ambani said Jio will roll out 5G services across India by December 2023.

"To build our pan-India true 5G network, we have committed a total investment of Rs 2 lakh crore. Jio has prepared the fastest ever and most ambitious 5G rollout plan for a country of our size. Within the next two months. That is by Diwali, we will launch Jio 5G across multiple key cities including metro cities of Delhi, Mumbai, Chennai and Kolkata," he said.

Ambani said subsequently the company plans to increase Jio 5G footprint month-on-month until December 2023, to deliver Jio 5G to every town, every 'taluka' and every 'tehsil' of the country.

After buying spectrum worth Rs 88,078 crore in the auctions, Reliance Jio said earlier this month it is gearing up to roll out an advanced 5G network to make India a global leader in digital connectivity and solutions.

The company had emphasised that it is fully ready for 5G rollout in the shortest period of time, backed by nationwide fibre presence, an all-IP network with no legacy infrastructure, an indigenous 5G stack and strong global partnerships across the technology ecosystem.

Ambani during the AGM said with 5G in place, Jio will launch billions of smart sensors with connected intelligence that will trigger the Internet of Things and fuel the fourth Industrial Revolution.

"It will connect every one, every place and everything with the highest quality and most affordable data," he said.

Ambani said Jio made strong progress in fibre and FTTH deployment with pan-India fibre-optic network of more than 11 lakh route kilometres.

He said two out of every three new fibre-to-the-home (FTTH) customers are choosing JioFiber.

In about two years of commercial rollout of its fixed-line broadband services, Jio toppled 20-year-old state-run telecom company BSNL as top service provider in the segment in January.

"India is ranked 138th in the world in fixed broadband adoption. Jio will take India to be among the top 10 globally in fixed broadband ado