10 years of Reliance Jio: How Mukesh Ambani's telecom venture changed India's digital story

As Reliance Industries Ltd (RIL) gears up for its 49th Annual General Meeting (AGM) on June 19, 2026, all eyes are on the telecom giant led by billionaire Mukesh Ambani. This year's meeting is particularly significant as it marks ten years since the launch of Reliance Jio, a venture that has radically transformed India’s connectivity and digital experiences. Since its debut on September 5, 2016, Jio has revolutionized the telecommunications sector by introducing affordable mobile data and free voice calls. At a time when internet access was a luxury, Jio’s competitive pricing strategy slashed data costs dramatically—from approximately ₹250 per GB to under ₹10. This seismic shift brought millions of Indians online and catalyzed a digital transformation across the nation. Jio's evolution over the last decade has been impressive. Initially a telecom operator, it has matured into a multifaceted digital ecosystem under the Reliance umbrella, encompassing sectors such as entertainment, cloud computing, e-commerce, and enterprise services. In 2017, the launch of the JioPhone was a pivotal moment, facilitating the shift of feature phone users to the 4G network. A landmark achievement arrived in 2020 when Reliance launched Jio Platforms and attracted substantial investments exceeding ₹1.5 lakh crore from global tech giants like Meta and Google. This funding not only alleviated Reliance's debt burden but also fortified Jio's digital infrastructure. In 2022, Jio further solidified its position by rolling out True 5G services, alongside substantial investments in standalone 5G technology. Expanding its offerings, Jio introduced home broadband solutions through JioFiber and JioAirFiber, establishing itself as the world's largest fixed wireless broadband provider. According to data from the Telecom Regulatory Authority of India (Trai) for April 2026, Jio boasts 512.58 million wireless broadband subscribers, leading the market, along with a strong presence in wired broadband with 14.35 million users. Today, Jio's extensive portfolio includes mobile services, JioFiber, streaming platforms like JioTV and JioSaavn, and even cloud solutions for enterprises. The company is also venturing into artificial intelligence, edge computing, and satellite broadband to prepare for future growth. Financially, Jio Platforms has become a cornerstone of Reliance Industries, reporting a 13% year-over-year profit increase to ₹7,935 crore in the last quarter of FY26, while revenue also rose to ₹38,259 crore. With a subscriber base now surpassing 524 million, Jio's average revenue per user (ARPU) has seen an uptick to ₹214. As anticipation builds for a potential $4 billion IPO, which may become India’s largest public offering, Reliance Jio’s first decade highlights a remarkable journey in the country’s digital evolution. With an estimated valuation between $130 billion and $180 billion, the company's future looks promising as it prepares for its listing on both the NSE and BSE.