The September launch of Jio, the long-awaited 4G phone service of oil and gas giant Reliance Industries, unleashed a price war in India’s hyper-competitive telecom market with an offer of a four-month free trial followed by free voice calls and messaging and low-priced data services. Stocks of incumbents, including telecom pioneer Sunil Mittal’s Bharti Airtel, tumbled.
(This story appears in the 10 November, 2016 issue of Forbes India. To visit our Archives, click here.)