Jio Platforms names mobility, home and enterprise-international as growth engines ahead of IPO

Ahead of India's biggest IPO to date, Jio Platforms has set out a roadmap for its growth. Speaking to journalists in Mumbai, Jio Platforms Managing Director Akash Ambani named mobility, home, and enterprise-international as the company's three main growth engines.

Akash Ambani expressed confidence that, on the strength of technology, digital gateways and strong infrastructure, the company is capable of making a major contribution to India's digital economy, estimated at about $1.4 trillion, by FY2030-31.

"The most important part of our business is our customer," he said. According to him, Jio will focus on providing better and affordable digital services to every Indian citizen, every home and every business group. Jio currently has about 53.3 crore connectivity customers, and more than 60 per cent of the country's total data traffic passes through Jio's network.

In mobility, the company expects a market of about 34 crore new 4G and 5G customers over the next five years. According to Akash Ambani, about 10 crore of these will be first-time mobile subscribers, while about 24 crore could move from 2G to 4G and 5G services. The growth in Jio's net active mobile subscribers in FY2025-26 was about three times that of the second-largest operator.

The second engine is home broadband. Jio currently has about 2.86 crore fixed broadband customers and aims to raise this to 10 crore homes. Using its wireless technology along with its fibre network, the company is expanding its reach across 19,000 pincode areas in the country.

The third engine will be the enterprise and international business. By Jio's estimate, the market for enterprise digital services in India is about Rs 5.1 lakh crore, or $56.8 billion. Akash Ambani said about 65 per cent of the country's bank branches are connected to Jio's network.

The company plans to make its in-house developed end-to-end technology stack commercially available in select overseas markets. Jio's focus will not be limited to selling software; it will work with telecom companies around the world as a managed service partner. Akash Ambani said this could help India move from being a technology-importing country to a technology-exporting one.

Earlier, Isha Ambani spoke of Jio's beginnings and Reliance's business outlook, saying the company believes in the principles of long-term thinking, large-scale expansion, effective execution and financial discipline. Opening the press conference, Uday Kotak recalled Reliance founder Dhirubhai Ambani and the company's 1977 IPO.