India's new-age digital companies may be the visible face of the internet economy, but Jio Platforms laid the foundational infrastructure on which much of it rests. Its enormous scale and potential for sustained growth make it a high-conviction stock with reasonable returns, said Samir Arora, founder of Helios Capital.
“Jio is the company that has enabled large-scale digital connectivity and built the network on which India’s new-age companies are built. It’s laid the foundational platform. Jio’s scale is huge, and the potential for consistent growth is high. It is a stock that we would put in the category of high conviction with reasonable returns,” Arora said.
Jio's entry into India's telecom market in 2016 marked a turning point for the industry. Its aggressive pricing and free voice and data offerings disrupted the market, accelerated the shift to mobile broadband and triggered an explosion in data consumption. A decade later, the company has evolved from a connectivity provider into a broad digital platform spanning mobile services, home broadband, entertainment, cloud and enterprise solutions.
The scale of that platform is formidable. Jio had 533 million customers as of June 30, 2026, including 284.9 million 5G users. Its network carried nearly 60% of India's wireless data traffic in FY26, while its wireless broadband network covered more than 99% of the country's population, according to its red herring prospectus.
The opportunity now lies in monetising this reach. Rising data consumption, the migration of 2G users to 4G and 5G, expansion of fixed broadband and the cross-selling of digital services offer multiple avenues for growth. As of June 2026, 261 million users in India were still on 2G networks, representing a sizeable migration opportunity.