Mukesh Ambani’s Reliance Jio has reached a new high not long after its launch. Leaving telecom giants like Airtel behind, Jio is now India’s second largest telecom company — merely two and half years after its launch.
With a whopping 30.6 crore users, Jio is now only behind the Vodafone-Idea conglomerate that has 38.7 crore registered users. Per a News18 report, telecom experts have said that Jio can soon take over as the leading telecom giant in India. “It is a matter of a few quarters, Reliance Jio will leave behind Vodafone-Idea soon,” they are quoted as saying.
Post Reliance Jio’s entry in the telecom sector, the financial situation of many other companies has went for a toss. The condition of government-owned Bharat Sanchar Nigam Limited (BSNL) are dire. BSNL has been facing such a massive financial crisis that it could not pay the salaries of 1.76 lac employees in the month of January and February. There have also been reports of the company planning to lay off thousands of employees.
Opposition parties have accused the Narendra Modi-led NDA government of helping crony companies that caused a financial chaos in BSNL and MTNL. Reportedly, even Airtel, that led the telecom sector for close to twenty years, is struggling with internal finances because of the price-war in the market.