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Matthew Wolf, Capital Group partner and investment analyst from 2008 to 2023, served as a telecom analyst for Capital Group Asia for almost 15 years, with his largest and most important investment during the period being with Softbank. Prior to that, Matthew Wolf (Switzerland) worked for the company as a European utility and energy analyst. This article will look at the growing mobile data landscape in India and how companies like Reliance Jio – whose potential Matthew Wolf flagged up several years ago – have grown to become leading telecom providers across India today.
In April 2024, Reliance Jio emerged as the world’s largest mobile operator in terms of data traffic, surpassing even China Mobile. In that month, total traffic across the Jio network topped 40.9 Exabytes, representing an astounding 35.2% year-on-year increase.
Reliance Industries Limited Chairman and Managing Director, Mukesh Ambani, expressed his satisfaction with the success of Jio, which has now comfortably established itself as the world’s largest mobile operator. Revealing the company’s quarterly profits to April 2024, Reliance Industries Limited also reported a strong and wide subscriber base of circa 481.8 million users.
Reflecting on Reliance Jio’s success, Mukesh Ambani pointed out that initiatives across the group’s businesses had made a remarkable contribution, fostering growth of various aspects of the Indian economy. He said it was heartening to note that in addition to strengthening the economy, all segments had posted robust financial and operating performance, helping the company to achieve multiple milestones.
Mr Ambani was happy to report that, earlier in 2024, Reliance had become the first Indian company to exceed the ₹100,000-crore threshold in pre-tax profits. Mukesh Ambani reflected that with over 108 million True 5G customers, Reliance Jio is truly leading 5G transformation in India. From pioneering efforts towards AI-driven solutions to upgrading hitherto 2G users to smartphones, Reliance Jio has proved its capability in strengthening and innovating the country’s digital infrastructure.
Since the start of the Covid-19 pandemic to April 2024, Reliance Jio’s annual data traffic increased dramatically, rising by around 240%. Over that period, monthly per capita data usage skyrocketed, increasing from 13.3 GB three years previously to 28.7 GB by April 2024.
Launched in 2016 with the mission of empowering every Indian by providing affordable access to the digital world, Reliance Jio is supported by world-leading digital technologies, the company heralding a new age where Indians can not only connect with the world but help shape its digital future. Having established itself as India’s largest network operator, Reliance Jio offers a comprehensive range of affordable services, including connectivity, mobile devices, apps, fibre and business solutions.
In December 2023, Jio’s subscriber base reached 470.9 million, the company ranking as India’s strongest brand. Cited among the Times 100 list of most influential companies globally, Reliance Jio provides mobile coverage to 99% of the Indian population, having partnered with more than 20 new start-ups and filed 123 new patents in 2023 alone. The company has joined forces with some of the biggest names in technology, including the likes of Microsoft, Google and Meta, to host a full spectrum of digital services and products.
In 2021, Reliance Jio partnered with Google, launching the JioPhone Next, an affordable smartphone incorporating cutting-edge features that took the market by storm. The company is also working with Google Cloud, collaborating on powering 5G in enterprise and consumer segments throughout India.
Across India today, the launch of 5G networks has triggered a significant shift in data consumption, according to a report by Nokia. This paradigm shift in India’s mobile data landscape is heavily reliant on innovative companies like Reliance Jio to pave the way for increased integration of 5G technology, enhancing availability and performance of 5G and accelerating future 5G growth.
