From Rs 228 per GB to mass-market 5G: How Jio transformed India's data economy
Akash Ambani said Jio invested heavily in building its network before launching commercial services. Its introductory offers included free voice calls and substantial amounts of data, helping it attract millions of users.
- Oct 15, 2026,
- Updated Oct 15, 2026 4:52 PM IST
When Reliance Jio entered India's telecom market in 2016, mobile internet was expensive and access remained limited for many consumers. By offering free voice calls and sharply reducing data prices, the company changed how Indians used mobile phones and forced competitors to rethink their pricing strategies.
Nearly a decade later, Jio Platforms is preparing for its initial public offering (IPO), with a proposed valuation of around Rs 10.3 lakh crore. The company is now looking to build on its connectivity business through 5G, home broadband and digital services.
Speaking at a conference on Thursday, Jio Chairman Akash Ambani said the company saw an opportunity to expand internet access by making data more affordable.
“We saw that as our biggest opportunity, to change India from a data-scarce nation to a data-abundant nation,” Akash Ambani said.
How Jio changed data pricing
Ambani highlighted the high cost of mobile internet before Jio entered the market.
“At that point, the pricing per GB was almost Rs 228 per GB on usage. The download speeds were 2.5 Mbps,” Akash Ambani said.
MUST READ: Jio IPO listing to make it India’s 4th most-valued firm after RIL, Airtel, HDFC Bank
Ambani said Jio invested heavily in building its network before launching commercial services. Its introductory offers included free voice calls and substantial amounts of data, helping it attract millions of users. The move pushed established telecom operators to lower tariffs and compete more aggressively.
Three pillars behind Jio's growth
Jio's strategy now rests on three pillars: technology, its digital services platform and network infrastructure.
According to the company's presentation, Jio has filed 7,220 patents across its technology stack. Its infrastructure includes access to 360,537 towers and a spectrum holding of 26,800.8 MHz.
The presentation also cites 533.3 million connectivity customers and 333.6 million digital services subscriptions sold monthly. These figures highlight the scale of its existing business and the opportunity to offer additional services to customers.
From connectivity to digital services
Jio is also expanding its home broadband business. The presentation cites 28.6 million fixed broadband customers and identifies enterprise and international markets as another growth opportunity.
ALSO READ: Jio IPO: Meta, Google, ADIA, 7 others eye Rs 3.2 lakh crore stake value, gains on investment
Reliance Jio filed draft red herring prospectus (DRHP) on October 14. According to its DRHP, the IPO is scheduled to open on October 21 and close on October 23, with a price band of Rs 1,065-1,119 per share. The proposed issue could raise nearly Rs 30,000 crore, valuing the company at approximately Rs 10.3 lakh crore, or $108 billion. As of March 31, 2026, Jio had 268.5 million 5G customers and 27.1 million subscribers across JioFiber and JioAirFiber.
Jio's first decade was defined by making connectivity affordable. Its next phase will depend on how effectively it monetises its expanding digital ecosystem.
For Unparalleled coverage of India's Businesses and Economy – Subscribe to Business Today Magazine
When Reliance Jio entered India's telecom market in 2016, mobile internet was expensive and access remained limited for many consumers. By offering free voice calls and sharply reducing data prices, the company changed how Indians used mobile phones and forced competitors to rethink their pricing strategies.
Nearly a decade later, Jio Platforms is preparing for its initial public offering (IPO), with a proposed valuation of around Rs 10.3 lakh crore. The company is now looking to build on its connectivity business through 5G, home broadband and digital services.
Speaking at a conference on Thursday, Jio Chairman Akash Ambani said the company saw an opportunity to expand internet access by making data more affordable.
“We saw that as our biggest opportunity, to change India from a data-scarce nation to a data-abundant nation,” Akash Ambani said.
How Jio changed data pricing
Ambani highlighted the high cost of mobile internet before Jio entered the market.
“At that point, the pricing per GB was almost Rs 228 per GB on usage. The download speeds were 2.5 Mbps,” Akash Ambani said.
MUST READ: Jio IPO listing to make it India’s 4th most-valued firm after RIL, Airtel, HDFC Bank
Ambani said Jio invested heavily in building its network before launching commercial services. Its introductory offers included free voice calls and substantial amounts of data, helping it attract millions of users. The move pushed established telecom operators to lower tariffs and compete more aggressively.
Three pillars behind Jio's growth
Jio's strategy now rests on three pillars: technology, its digital services platform and network infrastructure.
According to the company's presentation, Jio has filed 7,220 patents across its technology stack. Its infrastructure includes access to 360,537 towers and a spectrum holding of 26,800.8 MHz.
The presentation also cites 533.3 million connectivity customers and 333.6 million digital services subscriptions sold monthly. These figures highlight the scale of its existing business and the opportunity to offer additional services to customers.
From connectivity to digital services
Jio is also expanding its home broadband business. The presentation cites 28.6 million fixed broadband customers and identifies enterprise and international markets as another growth opportunity.
ALSO READ: Jio IPO: Meta, Google, ADIA, 7 others eye Rs 3.2 lakh crore stake value, gains on investment
Reliance Jio filed draft red herring prospectus (DRHP) on October 14. According to its DRHP, the IPO is scheduled to open on October 21 and close on October 23, with a price band of Rs 1,065-1,119 per share. The proposed issue could raise nearly Rs 30,000 crore, valuing the company at approximately Rs 10.3 lakh crore, or $108 billion. As of March 31, 2026, Jio had 268.5 million 5G customers and 27.1 million subscribers across JioFiber and JioAirFiber.
Jio's first decade was defined by making connectivity affordable. Its next phase will depend on how effectively it monetises its expanding digital ecosystem.
For Unparalleled coverage of India's Businesses and Economy – Subscribe to Business Today Magazine