In the past few years, there has been visible strides in the Indian Telecom sector, more in the internet penetration segment, after Reliance's Jio stepped in the public domain in 2016. As per December of 2019, Jio became India's largest mobile network operator with reportedly 406.3 million subscribers to its name. Now the brand of Jio has added another feather to its cap as it became the world's fifth strongest brand.
In the latest report of Brand Finance Global, Jio ranked as the fifth strongest brand globally with a Brand Strength Index (BSI) score of 91.7 out of 100 and AAA-plus rating. WeChat, Ferrari, SBER and Coca-Cola are the brands which rank above the Indian company.
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Brand Finance's original market research highlights that Jio scored high in the metrics such as reputation, consideration conversion, recommendation, innovation, word of mouth, customer service and value for money in comparison with its direct competitors.
"Despite only being founded in 2016, Jio has quickly become the largest mobile network operator in India and the third-largest mobile network operator in the world with almost 400 million subscribers," Jio said in a statement on Thursday.
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Jio surprised many in the Indian telecom sector after it offered, the latest speed bandwidth of the internet, 4G data to millions of users for free. Even after it started charging for data and calls it had the most affordable plans in the market as compared to other players.