Posted by Hyderabad: Jio Platforms is best placed to pose stiff competition to domestic and foreign rivals in India, according to GlobalData.
With tech giants such as Google, Facebook and others investing in Reliance owned Jio Platforms, GlobalData considers the digital venture’s best position is mainly backed with a range of services and offerings that Jio Platforms has introduced in India.
How Jio Platforms is best placed
“Jio Platforms is not only best placed to drive the increasing mobile phone penetration, boost Internet usage with its cheap smartphones and 4G services but also has the advantage of capturing additional consumers through various digital services across the country,” GlobalData says.
Reliance Industries, which had a Rs 1.61 trillion ($21billion) net debt, has successfully raised a total of $22.2 billion, including $7billion through rights issues, from private-equity players such as KKR and Silver Lake Partners, to emerge as a net debt-free company almost eight months before the deadline.
“With the work-from-home culture gaining momentum due to the COVID-19 outbreak and video-conferencing apps being in more demand than ever before, Jio has launched China-based Zoom rival ‘JioMeet’,” says Bindi Patel, Economic Research Analyst – GlobalData.
“There are high chances that consumers might prefer JioMeet over Zoom due to the various features it has to offer in addition to the data protection features,” adds Patel.
Jio Platforms’ new projects
With the announcement of new projects like grocery and e-commerce app JioMart, mixed reality headset Jio Glass, Jio Health Club, a platform that provides end-to-end healthcare services.
And Jio TV+, a platform aiming to aggregate all streaming platforms like Netflix and YouTube, it is only a matter of time before Reliance and Jio Platforms capture the huge growing segment of the consumer market in India.
With growth of digital landscape across various avenues right from retail to healthcare, the company is set to give tough competition to rivals be it domestic or international.
Known for its disruptive ideas and business models, Reliance Jio continues to capture Bharti Airtel and Vodafone Idea user base and enjoys almost one-third of the total telecom market share in India.
Jio Platforms’ quality services at low cost
“By offering quality services at low cost, Reliance is setting up a new standards for all domestic and international competitors to recalibrate their strategy in capturing one of the world’s largest consumer markets,” points out Patel.
“By investing heavily in technology to further drive the growth, the company clearly sets an example for others to follow suit in the era of a digitalized world,” concludes Patel.