India's Jio to hike tariffs on some of its plans from July 3
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 27 2024
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Source: reuters
- Reliance Industries' Jio Infocomm Tariff Hike: Jio Infocomm, a telecom business of Reliance Industries, announced an increase in prices for some prepaid and postpaid plans starting July 3.
- Price Adjustment Details: The base plan price will rise to 189 rupees from 155 rupees, and nineteen other plans will see a tariff increase ranging from 13% to 22%.
- Industry Context: Competitors Vodafone Idea and Bharti Airtel have not raised tariffs since 2021, making this move significant in the Indian telecom market.
- Telecom Spectrum Auction: The tariff hike coincides with India's auction of telecom spectrum valued at around $11.5 billion, granting companies rights over airwaves for a specific period.
- Jio's Spectrum Purchase: Jio acquired spectrum worth 9.74 billion rupees during the auction, which was the lowest compared to its competitors Bharti Airtel and Vodafone Idea.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
