REUTERS/Pascal Lauener
Mukesh Ambani, Chairman and Managing Director of Reliance Industries attends the annual meeting of the World Economic Forum (WEF) in Davos January 25, 2013
NEW DELHI/MUMBAI (Reuters) - Indian tycoon Mukesh Ambani hopes his multi-billion dollar bet on cheap high-speed wireless broadband could change the way nearly a billion of his countrymen use mobile devices from the way they do banking to watching cricket.
In a country where most people own a mobile phone yet lack basic Internet access, it is a risky gamble even for India's richest man. He is counting on an unproven strategy and still-developing technology in a market with very little pricing power.
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