Good news for Vodafone Idea. According to the latest TRAI data for February 2026, Vi (Vodafone Idea) added 21,927 users, after months of losses. If we compare the data from February 2025 with February 2026, Vodafone Idea’s subscriber base (wireless) fell further to 198,381,196, while Jio’s base increased to approximately 493.11 million. Market share in terms of wireless subscribers stood at 15.78% for Vodafone Idea and 39.22% for Jio.
A comeback, but not a catch-up
We analysed five years of TRAI data from February of every year between 2019 to 2026 to understand the journey. While Vi’s trajectory was that of unsustained recoveries, Reliance Jio continued to stack up additions almost every year.
In February 2019, Vodafone Idea had a total wireless (mobile) subscriber base of 409,370,681. At this time, Reliance Jio was still at 297,227,109. When taking the market share into account for wireless (mobile) subscriber base, Vi has 34.58%, and Jio had 25.11%.
In February 2022, Vodafone Idea reported 263,593,051 subscribers, while Jio had 402,732,492. Market share was in Jio’s favour at 35.28%, compared to Vodafone Idea’s 23.09%. In terms of active users that month, Vodafone Idea had 225.89 million active VLR subscribers (active users), representing 85.70% of its base, while Jio reported 378.81 million active VLR subscribers, or 94.06% of its total, as per TRAI data.
According to TRAI data, in February 2025, Vodafone Idea’s base dropped to 205,900,110 from the previous year, while Jio’s remained largely stable at 467,589,411. Market share for Vodafone Idea stood at 17.84%, compared to 40.52% for Jio.
The rest of telecom sector
In February 2019, Bharti Airtel held 28.75% market share, followed by BSNL at 9.82%, MTNL at 0.29%, Tata Teleservices at 1.44%, and Reliance Communications at 0.002%.
By February 2026, the structure of the market had shifted, with Bharti Airtel’s share rising to 37.59%, while BSNL declined to 7.39% and MTNL to 0.02%, taking the combined PSU share to 7.41%.
Tata Teleservices was no longer reported separately, with its subscribers included under Airtel from 2020 onwards, and Reliance Communications’ presence had reduced to a near-negligible 0.00002%.
The revenue game
In FY21, Vodafone Idea reported consolidated revenue of Rs 41,952.2 crore, while Reliance Jio posted Rs 69,888 crore. By FY22, Vodafone Idea’s revenue declined to Rs 38,515.5 crore, even as Jio’s rose to Rs 76,977 crore.
In FY23, Vodafone Idea began its recovery, reporting Rs 42,177.2 crore, but remained significantly behind Jio, which recorded Rs 90,786 crore. The divergence became more pronounced in FY25, when Vodafone Idea reported Rs 43,571.3 crore, compared with Jio’s Rs 114,141 crore.
Vi vs Jio: The Revenue Gap Widens
A fragile inflection point
Vodafone Idea’s return to subscriber additions comes at a time when it has also secured some financial breathing room. On 31 December, the Cabinet approved a freeze on the company’s Rs 87,695 crore AGR dues as of the end of the year. Under the revised structure, Vi’s payouts over the next six years, from March 2026 to March 2031, will total Rs 744 crore, capped at about Rs 124 crore annually. Beyond that, it will pay Rs 100 crore a year between March 2032 and March 2035.
Conclusion
Although Vi gets a little breathing room, it makes no dent in the competition. Reliance Jio continues to add subscribers at scale and widen its lead, while Bharti Airtel has strengthened its hold on the No. 2 spot, as per the TRAI data.