Mukesh Ambani joins his peers to end the cheap data party for Indians
- Within 24 hours of Airtel and Vodafone increasing tariffs, Reliance Jio too said it will also look at the same.
- Will take measures including appropriate increase in tariffs in the next few weeks, Jio said.
- Vodafone Idea stock gained by 20% in today’s early trade.
“Like other operators, we will also work with the Government and comply with the regulatory regime to strengthen the industry to benefit Indian consumers and take measures including appropriate increase in tariffs in the next few weeks in a manner that does not adversely impact data consumption or growth in digital adoption and sustains investments,” said Jio in a press release yesterday.
The move has led a rally in Reliance Industries’ stock which went up by 4% in early trade, but the biggest gainer as the second telecom tariff war is cooling down is still Vodafone Idea. The stock has been taking a beating ever since Supreme Court order supported Department of Telecommunications in the case on defining aggregate gross revenues (AGR). After falling to as low as ₹3, it has gained as much as 21% in today’s trade.
This good news however has another story, and not a pleasant one for the scores of telecom consumers. On an average, Indians have been enjoying 1 GB data at ₹18 or $ 0.26! In comparison, Americans pay as much as $6 per GB. Jio however has been heralding this change as its tariffs are 30% cheaper than that of Vodafone and Airtel.
Reliance Jio gets a golden opportunity to hike tariffs and still stay ahead of rivals
Whether you use Jio, Airtel, Vodafone-Idea, get ready to pay more for mobile services— sooner than later