- Jio is set to be in the Top 100 Global Brands by 2022
- It added a whopping 85.39 lakh customers in July to take its total subscriber base to 33.97 crores
- India currently has over 566 million internet users, anticipated to reach 627 million this year.
The exponential rate at which Mukesh Ambani owned Reliance Jio is currently soaring, the company is going to be among the 100 most valuable brands globally within three years, according to a report by market research firm Kantar Millward Brown.
Despite the fact that it was introduced in 2016, Indian customers regard Jio as “meaningfully different” as Airtel, which joined the market in 1995, said the report “BrandZ Top 100 Most Valuable Global Brand for 2019.”
The Jio Factor: Study by Kantar Millard Brown
According to a market research study by Kantar Millward Brown, Reliance Jio is anticipated to become one of the top 100 global brands with its present annual growth rate of 68 percent compared to 2017. Jio’s present valuation is estimated at $4.1 billion.
Reliance Jio arrived on the scene in 2016 rapidly became one of India’s leading telecom service providers, with more than 340 million clients registered. It is anticipated that the business will become the market leader at its present rate later this year.
“Jio interrupted the category of Indian telecommunications providers with its profound information consumption discount rates. It compelled rivals to lower their prices and led to the consolidation of the categories. All consumers of telecommunications, not just Jio clients, benefited from the intervention of Jio,” added the report.
Other Indian Companies Already in The List:
The present top 100 list involves a few Indian companies including $22,705 million worth of HDFC Bank, $20,314 million worth of state-owned LIC, and $14,282 million worth of Tata Consultancy Services. HDFC was also on last year’s list, while this year’s LIC and TCS debuted.
“True ‘disruption’ to me is where a new brand or proposal enters a market and impacts or redefines a particular category to benefit all clients, whether or not they are a customer of that particular brand. Jio, the Indian telecom supplier, is a good example,” said Martin Guerrieria, Global BrandZ Research Director, Kantar.
Freebie Worked For Jio:
“For the first six months at the launch, Jio supplied free information and only then launched relatively humble pricing,” said Guerrieria.
“It constructed a lot of volume instantly. Airtel and Vodafone market leaders’ clients also felt the ‘Jio effect’ advantage as they were compelled to drop their information rates to compete and maintain clients,” he added.
India currently has over 566 million internet users, anticipated to reach 627 million this year. The launch of Reliance Jio has been called one of the primary factors for India’s digital charts increase — with the nation anticipated to have the biggest consumer digital services market in the decade to come.
Jio added a whopping 85.39 lakh customers in July to take its total subscriber base to 33.97 crores, as per the data released by the Telecom Regulatory Authority of India(TRAI) last Wednesday.
Recent Announcement By Jio:
Recently, Reliance Jio launched the much-anticipated JioFiber which its fiber-based broadband service offering minimum internet speed of 100 Mbps for Rs. 699 a month, a rate 35-45 percent lower than the other operators in the market as it continues to disrupt the telecom sector which started three years back.
Launched just three years ago, Jio’s rapid growth has been fuelled by more than a whopping $36 billion in spending. Deep pockets have tremendously helped the company lead an intense competition that has driven India’s data tariffs to the lowest in the world. Bruised by the price war, other firms have either been forced to shut down or combine with other players, such as the local unit of Vodafone Group Plc that merged with Idea Cellular Ltd.
With its budget-friendly plans and new offers, Jio has successfully disrupted the Indian Telecom Market and now it has dived in the Fiber Plans too. Hope other companies turn up with something outstanding to compete with the emerging brand!