Jio has completed its planned True5G rollout across India. It is also accelerating the transformation of fixed broadband infrastructure in the country with its JioFiber and JioAirFiber solutions. The ability to offer connectivity services across customer cohorts and device form factors will enable Jio to address the digital needs of every Indian citizen.
Strategic Objective
Leverage technology to create market-leading products and solutions that add value to our customers, across and beyond India
Subscribers EOP
Data traffic
Users migrated to 5G network
Voice on network
Akash
Ambani
Isha
Ambani
Anant
Ambani
Sanjay
Mashruwala
Pankaj
Pawar
Mathew
Oommen
Kiran
Thomas
Harish
Shah
Jyotindra
Thacker
Anish
Shah
Anshuman
Thakur
Rajneesh
Jain
V. Sridhar
Ashish
Lodha
Shyam
Mardikar
Dhruv Kumar
Tayal
Aayush
Bhatnagar
Saurabh
Sancheti
R. Srinivasan
Sanjay
Jog
Rahul
Mukherjee
Rollout and Adoption of 5G
Jio has led the rollout of the pan-India
5G network and India has over
4,35,000 5G BTS deployed across
the country. According to the Ericsson
Mobility Report, 5G subscribers in
India are estimated to grow to more
than 800 million by 2029. The rapid
upgrade of network infrastructure
has also led to over 70% of new
smartphones being 5G enabled.
Launch of more affordable
5G
smartphones would further accelerate
the transition towards 5G.
Fixed Wireless Solutions to Accelerate Fixed Broadband
Overall fixed broadband connections in India have increased by 20% Y-o-Y to ~40 million by March 2024. The rollout of the next generation fixed wireless networks on the back of 5G and point- to-multi-point UBR would catalyze demand for high-speed fixed broadband. Rural areas are expected to see a higher uptake of these services due to limited last-mile infrastructure currently.
Digital Adoption Seeing Significant Traction
Digital services are becoming
increasingly integral to the 900+
million broadband users in India.
Increasing per capita income, further
strengthening of India Stack, and the
need for convenience will continue
to drive the adoption of digital
platforms. Google, Temasek, and Bain
& Company, in their report –
e-Conomy
India 2023–have estimated India’s
internet economy to grow 6x and reach
US$ 1 trillion by 2030.
Key Regulatory Developments
Connectivity and digital services provider in India
Share of India’s data traffic
Jio Fiber/AirFiber subscribers across India
FINANCIAL PERFORMANCE
* EBITDA margin is calculated on Revenue from Operations
Digital services revenue and EBITDA growth in FY 2023-24 were 11% and 12.7% Y-o-Y, led by a higher subscriber base and scale-up of digital platforms. Customer engagement on the Jio network increased sharply, with average per capita data and voice usage at 28.7 GB and 1,008 minutes per month across overall subscriber base of 481.8 million for the quarter ending March 2024.
Jio True5G Powering Multiple Moats
Jio has rolled out its True5G network across India, with over 108 million subscribers migrated to Jio’s 5G network. The Jio True5G network now carries almost 30% of Jio’s mobility data traffic, and the entire 5G data is now carried on Jio’s own 5G+4G combo core. Jio is the only operator in India rolling out 5G on StandAlone architecture and has multiple technology advantages – ability to offer tailor- made network slices for different customer cohorts and use cases, Voice over New Radio (VoNR), and cloud-native 5G core with cuttingedge security (Quantum Safe).
JioAirFiber Expands Addressable Market in Fixed Broadband
Jio continues to lead on fixed broadband connections, with ~12 million premises connected with JioFiber/JioAirFiber as of March 2024. In addition to JioFiber presence, JioAirFiber has been rolled out in ~5,900 towns with encouraging early signs of demand. JioAirFiber has been positioned as an entertainment-first product, and content bundling is driving ~30% higher per capita usage compared to JioFiber. Jio aims to reach 100 million premises through a combination of fiber and fixed wireless solutions.
Jio Network Shows Significant Jump in Data Traffic
Increasing mix of 5G and fixed broadband, and higher customer engagement have led to a 31% Y-o-Y increase in overall data traffic to ~149 exabytes during FY 2023-24. With best-in-class network infrastructure, Jio has built enough data capacity to serve over a billion Indians for their digital needs at homes, offices, and on-the-go. Jio’s share of data traffic in India has increased to ~60%, making it the most preferred broadband network.
Presence in Enterprise Connectivity Scaling Up
Jio has consistently gained market share in enterprise connectivity, with an increasing presence across key industry verticals like BFSI, Government, and Manufacturing. Jio has signed marquee deals for digital services like Cloud, CPaaS, and IoT over the past year.
Small and Medium Businesses (SMB) remain a large addressable market where Jio benefits from a deeper network presence with JioFiber and JioAirFiber. Education institutes, retail stores, and professional services are key SMB cohorts where Jio has significant traction.
Leading Technology innovations in the country
In pursuit of developing innovative product and services at affordable prices, Jio Platforms and its subsidiaries have filed for 1,255 patents and were granted 144 patents in FY2023-24. The Cumulative count of patents granted has increased to 331 as of March 2024. These patents span across 6G, 5G, AI, LLM, Deep Learning, Big Data, Devices, IoT and NB-IoT.
Some of the new product launches by Jio are JioBharat, JioSpaceFiber, JioCloudXP, JioGamesCLoud, JioCloudPC, JioMotive, JioSafe, and JioTranslate.
Jio has accomplished the fastest rollout of a 5G network witnessed anywhere in the world and is now available across India. JioAirFiber has seen strong demand and customer engagement, especially in underserved segments. Jio’s indigenously developed technologies are being deployed at scale in India and will subsequently be taken to the rest of the world. Jio’s ahead-of-the-curve investments in next-generation network and digital technologies would sustain a competitive edge and market share gains. This will ensure strong and consistent shareholder return over the coming years.