Reliance Jio entered the telecom industry in September 2016, after which the price war started in the telecom companies. Customers got the direct benefit of price war. After the entry of Jio to the Indian market, the customers save about $10 billion (60 thousand crore) annually. This fact has been revealed in a report released by Institute for Competitiveness (IFC).
Due to Reliance Jio, the per capita GDP of the country has increased by 5.65%. It has been said in the report that due to Reliance Jio, the prices of internet services have decreased in the country, due to which the average price of GB data has been reduced from Rs 152 to Rs 10.
Stating for Compatibility (IFC) said in its report: “According to our calculations, if the assessment is done on very low taxes, Reliance Jio has saved 60,000 crores annually to consumers. It has been said that Jio contributed 6.65 percent in GDP. IFC has given its report on the basis of the figures of 18 states. It has been said in the report that due to the increased influence of the Internet, the economy of the country has also increased, because of this there are many other things connected. The report has used data from 18 states from 2004-18. According to this, if internet penetration grows by 10 percent, then it increases the per capita GDP by 3.9 percent.