There is no hiding from the fact that Reliance Jio has totally revamped the Telecom industry in India after the company came up with free unlimited calls and lower data rates in the telecom market.
Meanwhile, Airtel Chairman, Sunil Bharti Mittal had blamed Reliance Jio for destroying the telecom market. The charges of Jio are only for the application services and the data it offers whereas the calls are totally free. Launched in September 2016, Jio was able to swiftly spread its subscriber base and dominate other top players like Airtel, Vodafone and Idea.
Sunil Mittal had blamed the free offers of Jio as the sole primary cause due to which the telecom companies had to write-off investments worth $50 billion.
In reply, the Chairman of Reliance Industries Mukesh Ambani said,
“There’s no need to cry so much. For all the people in the industry, I suppose earnings and losses are the risks that we take. I don’t assume we rely on, governments and regulators to assure our profits and losses. To me, what’s most vital is did we move the country ahead and do the citizens gain from the move.”
Mukesh Ambani highlighted that India needs to progress and companies need to keep in mind the consumers and not keep the losses in mind.
“The query, you ought to be thinking about is even if there are income and losses, who gains and who loses. number of us are big players and can really afford it.”
When asked if the competition motivates him, the Reliance Industries Chairman Mukesh Ambani said, “Our DNA is that we are very focussed. We always believe in the principle of saying that if you focus on the goal, you will overcome all obstacles. If you focus on the obstacles you will never achieve the goals. At Reliance we want to be the best in the world, I am sorry if it appears competitive.”