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Telecommunication

Reliance Jio nears apex of India's mobile market in just 3 years

Carrier on pace to top Vodafone India as it lures subscribers with rock-bottom prices

A woman walks past a mobile store of Reliance Industries' Jio telecom unit in Mumbai.   © Reuters

MUMBAI -- Reliance Industries is set to become the leading carrier in the world's second-biggest wireless market just three years after its debut, disrupting the industry in India by offering pricing so low it put smartphones in the hands of low-income and rural communities.

Mobile unit Reliance Jio Infocomm has grown its market share to 29% and continues to lure subscribers away from its main rivals, market leader Vodafone Idea and No. 3 Bharti Airtel. At the current pace, Jio is set to surpass Vodafone Idea within the year to become the top player by subscriber base.

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