Mukesh Ambani-founded telecom company Reliance Jio could be in the world’s 100 most valuable brands within three years, entering into the same league with companies such as Jeff Bezos’ Amazon.
Mukesh Ambani-founded telecom company Reliance Jio could be in the world’s 100 most valuable brands within three years, entering into the same league with companies such as Jeff Bezos’ Amazon, technology behemoth Apple and internet giant Google. While the brand has caused other telecom companies to lose market share, the company is expected to become one of the top 100 global brands given its current growth rate, communications service provider WPP and market research firm Kantar Millward Brown said in a recent report. Reliance Jio, which was launched in 2016, brought disruption in the Indian telecom industry with dirt-cheap data tariffs, forcing even rivals to cut rates. The same has helped the company to become over 300 million customers-strong.
Three Indian brands have already made it to the list including HDFC, state owned-LIC and Tata Consultancy Services. While HDFC was in the previous list as well, LIC and Tata Consultancy Services are the new entrants in the 100 most valuable brands. However, none of these companies are in the top 50 positions. “The newcomers included four Chinese brands and two Indian brands, increasing the presence of Asian brands in the BrandZ™ Global Top 100,” the report said. This year, nine newcomers have been added to the list.
Meanwhile, three technology companies reign the top five spots in most valuable brands. These include Apple, Microsoft and Google. Jeff Bezos’ retail behemoth Amazon is the world’s most valuable brand with a worth of $315,505 million. Financial services company Visa Inc, social media platform Facebook, China’s e-commerce platform Alibaba, Technology firm Tencent, Fast food chain McDonald’s, and telecom provider AT&T were among the world’s 10 most valuable companies.
Reliance Jio, which is also the world’s second-largest operator in terms of subscriber base and profits is likely to bring another set of disruption in telecom industry via JioFiber. Launched on the third anniversary of Jio, the broadband service provides high-speed internet connection and other benefits to subscribers including free access to movies on the first day of commercial release, Reliance Industries chairman Mukesh Ambani announced on the company’s Annual General Meet in August 2019.