Now, Reliance Jio too decides to hike phone tariffs

New Delhi: Reliance Jio Infocomm Ltd, India’s only profitable telecom company, unexpectedly said it will join rivals Bharti Airtel Ltd and Vodafone Idea Ltd in raising tariffs, indicating that a three-year-long price war that unleashed an unprecedented consolidation in the industry is nearing an end.

The Mukesh Ambani-controlled Reliance Jio will “take measures including appropriate increase in tariffs in the next few weeks in a manner that does not adversely impact data consumption or growth in digital adoption and sustains investments,” the company said on Tuesday.

If Reliance Jio indeed raises tariffs, it will provide much-needed relief for rivals Vodafone Idea and Bharti Airtel, which have reported record losses in the September quarter.