Reliance Jio Announces Tariff Hike Effective July 3

Reliance Jio has announced a significant tariff hike ranging from 12-27% on its prepaid and postpaid plans, effective from July 3, 2024. This marks the first rate increase after two and a half years and is expected to be followed by similar hikes from rivals Bharti Airtel and Vodafone Idea. The adjustments are aimed at boosting the average revenue per user (ARPU) and funding ongoing investments in 5G and AI technologies. The stock market reacted positively, with shares of Reliance and Bharti Airtel rising, although Vodafone Idea faced selling pressure. The new tariffs have sparked a mixed response from consumers, with some expressing concerns over affordability. Despite the hike, India will continue to have some of the lowest telecom tariffs globally, according to analysts.