NEW DELHI: Reliance Industries (RIL) Chairman Mukesh Ambani Wednesday said that the group’s telecom venture, Jio, is the world’s biggest startup with an investment of Rs 150,000 crore which will transform lives by making services affordable."It (Jio) is one of the largest transformational green-field digital initiatives anywhere in the world with an investment of over Rs 150,000 crore," Ambani said at a Ficci Frames 2016 event in Mumbai.Ambani however did not reveal the commercial launch timeframe. The analyst community expects a soft launch in April and a wider commercial launch by December. Jio had rolled out services for its 120,000 employees and partners late December."Jio will start services with 70% coverage of India. From day one. From day one, Jio mobile broadband will offer speeds that are about 40 to 80 times faster than the current average speeds," he added.Ambani said that Jio will make services affordable to the consumer. "All of this is of no use if we cannot make it accessible and affordable to consumeRs in all parts of the country."He said that against the current data consumption in India of about 0.15GB per month, Jio’s network is engineered to provide a capacity of 10 GB per month for every user.He added that digitisation is the defining trend of this century, the reason why Jio was conceived."I have no doubt that with the launch of Jio, India’s rank will go up from 150 to among the top 10 of mobile Internet rankings in the world," Ambani said.The commercial launch of Jio, a telecom arm of Mukesh Ambani-owned RIL is highly anticipated as the company promises to offer affordable high-speed data services over fourth-generation or 4G network in the country.The company acquired broadband wireless access (BWA) spectrum in the 2300 MHz band in 2010 and has recently entered into strategic partneRs hip to share and trade 850 Mhz airwaves, which can be used for 4G services, with younger brother Anil Ambani’s Reliance Communications (RCOM).