10 years of Reliance Jio: How Mukesh Ambani's telecom venture changed India's digital story
As Reliance Industries prepares for its 49th AGM on June 19, investors are expected to closely watch for any announcement on the much-awaited Jio Platforms IPO. Reliance Jio, which completes a decade since its commercial launch in September 2016, has emerged as one of the biggest disruptors in India's corporate history, transforming the telecom sector with cheap data and free voice calls.
- Jun 19, 2026,
- Updated Jun 19, 2026 7:35 AM IST
RIL AGM 2026: Billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) is set to hold its 49th Annual General Meeting (AGM) on Friday, June 19, 2026. Investors and industry watchers will be keenly watching for updates on the much-anticipated Jio Platforms IPO as Reliance Jio marks ten years since its commercial launch.
Launched in September 2016, Reliance Jio Infocomm transformed India's telecommunications landscape and triggered a digital revolution by making mobile data affordable and widely accessible.
When Mukesh Ambani launched Jio on September 5, 2016, the company upended the industry with free voice calls and low-cost 4G data services. At a time when mobile internet was expensive and digital penetration remained limited, Jio's entry triggered a fierce price war that brought down data costs from around ₹250 per GB to less than ₹10 per GB, helping millions of Indians come online.
Over the past decade, Jio has evolved from a telecom operator into Reliance Industries' digital and technology arm, encompassing telecom, entertainment, cloud computing, commerce and enterprise services.
From 4G disruption to 5G leadership
Jio's growth journey has been marked by several milestones. In 2017, the company introduced the JioPhone, accelerating the migration of millions of feature phone users from 2G to 4G.
A major turning point came in 2020, when Reliance created Jio Platforms and raised more than ₹1.5 lakh crore from global investors including Meta, Google, KKR, Silver Lake, Vista Equity Partners and Saudi Arabia's Public Investment Fund. The fundraising helped Reliance become net debt-free and strengthened Jio's digital ecosystem.
MUST READ: Reliance Jio IPO: What will be its impact on Reliance Industries? Analysts decode
In 2022, Jio launched its True 5G services and invested heavily in standalone 5G infrastructure. The company subsequently expanded into home broadband and fixed wireless access through JioFiber and JioAirFiber, becoming the world's largest fixed wireless broadband provider.
India's largest broadband operator
According to Trai data for April 2026, Jio had 512.58 million wireless broadband subscribers, making it India's largest wireless broadband operator. It also led the wired broadband market with 14.35 million subscribers.
Reliance says Jio's mobility network covers over 99% of India's population and its fibre broadband services reach around 25 million homes. The company operates nearly 9,000 digital stores and works with more than one million merchant partners and around three million Jio Associates.
Jio currently carries nearly 60% of India's total data traffic, with annual data consumption touching 241.4 billion GB in FY26.
Beyond telecom
Today, Jio's portfolio spans mobile services, JioFiber, JioAirFiber, JioHotstar, JioTV, JioSaavn, JioCloud, JioMeet, JioMart and JioMoney. It also provides cloud infrastructure, data centre and connectivity solutions to enterprises.
The company is now investing in artificial intelligence, edge computing and satellite broadband connectivity, positioning itself for the next phase of growth.
MUST READ: Reliance Jio denies Telegram founder Pavel Durov's BGP hijacking allegations
Strong financial performance
Jio Platforms has emerged as one of Reliance Industries' most valuable businesses. In the fourth quarter of FY26, it reported a 13% year-on-year increase in net profit to ₹7,935 crore, while revenue rose 13% to ₹38,259 crore.
Its subscriber base climbed to 524.4 million, with average revenue per user (ARPU) improving to ₹214. As preparations gather pace for a widely anticipated public listing, Jio's first decade stands as one of the most consequential chapters in India's digital transformation story.
MUST READ: Reliance Jio IPO: $4 billion DRHP filing likely before RIL AGM on June 19
Reliance Jio IPO
Reliance Jio Infocomm is reportedly close to filing draft papers for its much-awaited $4 billion IPO, which could become India's largest-ever public issue, surpassing Hyundai Motor India's $3.3 billion offering. According to the Financial Times, the DRHP may be filed with SEBI within days, possibly before Reliance Industries Chairman Mukesh Ambani's address at the AGM on June 19.
Reliance is reportedly favouring a predominantly fresh issue to fund Jio's expansion plans. Analysts value Jio at $130-180 billion. For FY26, Jio Platforms reported a 15% rise in net profit to ₹30,053 crore and a 14.5% increase in revenue to ₹1.47 lakh crore. Reliance Industries holds a 66.43% stake in Jio Platforms, with Meta and Google among its prominent investors. Jio is expected to list on both the NSE and BSE.
MUST READ: Mukesh Ambani has a 'Dhurandhar' connect! A connection many people didn’t see coming
RIL AGM 2026: Billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) is set to hold its 49th Annual General Meeting (AGM) on Friday, June 19, 2026. Investors and industry watchers will be keenly watching for updates on the much-anticipated Jio Platforms IPO as Reliance Jio marks ten years since its commercial launch.
Launched in September 2016, Reliance Jio Infocomm transformed India's telecommunications landscape and triggered a digital revolution by making mobile data affordable and widely accessible.
When Mukesh Ambani launched Jio on September 5, 2016, the company upended the industry with free voice calls and low-cost 4G data services. At a time when mobile internet was expensive and digital penetration remained limited, Jio's entry triggered a fierce price war that brought down data costs from around ₹250 per GB to less than ₹10 per GB, helping millions of Indians come online.
Over the past decade, Jio has evolved from a telecom operator into Reliance Industries' digital and technology arm, encompassing telecom, entertainment, cloud computing, commerce and enterprise services.
From 4G disruption to 5G leadership
Jio's growth journey has been marked by several milestones. In 2017, the company introduced the JioPhone, accelerating the migration of millions of feature phone users from 2G to 4G.
A major turning point came in 2020, when Reliance created Jio Platforms and raised more than ₹1.5 lakh crore from global investors including Meta, Google, KKR, Silver Lake, Vista Equity Partners and Saudi Arabia's Public Investment Fund. The fundraising helped Reliance become net debt-free and strengthened Jio's digital ecosystem.
MUST READ: Reliance Jio IPO: What will be its impact on Reliance Industries? Analysts decode
In 2022, Jio launched its True 5G services and invested heavily in standalone 5G infrastructure. The company subsequently expanded into home broadband and fixed wireless access through JioFiber and JioAirFiber, becoming the world's largest fixed wireless broadband provider.
India's largest broadband operator
According to Trai data for April 2026, Jio had 512.58 million wireless broadband subscribers, making it India's largest wireless broadband operator. It also led the wired broadband market with 14.35 million subscribers.
Reliance says Jio's mobility network covers over 99% of India's population and its fibre broadband services reach around 25 million homes. The company operates nearly 9,000 digital stores and works with more than one million merchant partners and around three million Jio Associates.
Jio currently carries nearly 60% of India's total data traffic, with annual data consumption touching 241.4 billion GB in FY26.
Beyond telecom
Today, Jio's portfolio spans mobile services, JioFiber, JioAirFiber, JioHotstar, JioTV, JioSaavn, JioCloud, JioMeet, JioMart and JioMoney. It also provides cloud infrastructure, data centre and connectivity solutions to enterprises.
The company is now investing in artificial intelligence, edge computing and satellite broadband connectivity, positioning itself for the next phase of growth.
MUST READ: Reliance Jio denies Telegram founder Pavel Durov's BGP hijacking allegations
Strong financial performance
Jio Platforms has emerged as one of Reliance Industries' most valuable businesses. In the fourth quarter of FY26, it reported a 13% year-on-year increase in net profit to ₹7,935 crore, while revenue rose 13% to ₹38,259 crore.
Its subscriber base climbed to 524.4 million, with average revenue per user (ARPU) improving to ₹214. As preparations gather pace for a widely anticipated public listing, Jio's first decade stands as one of the most consequential chapters in India's digital transformation story.
MUST READ: Reliance Jio IPO: $4 billion DRHP filing likely before RIL AGM on June 19
Reliance Jio IPO
Reliance Jio Infocomm is reportedly close to filing draft papers for its much-awaited $4 billion IPO, which could become India's largest-ever public issue, surpassing Hyundai Motor India's $3.3 billion offering. According to the Financial Times, the DRHP may be filed with SEBI within days, possibly before Reliance Industries Chairman Mukesh Ambani's address at the AGM on June 19.
Reliance is reportedly favouring a predominantly fresh issue to fund Jio's expansion plans. Analysts value Jio at $130-180 billion. For FY26, Jio Platforms reported a 15% rise in net profit to ₹30,053 crore and a 14.5% increase in revenue to ₹1.47 lakh crore. Reliance Industries holds a 66.43% stake in Jio Platforms, with Meta and Google among its prominent investors. Jio is expected to list on both the NSE and BSE.
MUST READ: Mukesh Ambani has a 'Dhurandhar' connect! A connection many people didn’t see coming