Yahoo Finance India's Jio to hike tariffs on some of its plans from July 3 (June 27)
(This June 27 story has been corrected to fix the price hike range to 13%-27%, from 13%-22%, in paragraph 4)
BENGALURU (Reuters) - India's Reliance Industries said on Thursday its telecom business Jio Infocomm will hike prices of some prepaid and postpaid plans from July 3.
WHY IT'S IMPORTANT
Jio, India's largest telecom carrier by subscriber count, and rivals Vodafone Idea and Bharti Airtel have not raised tariffs since 2021.
As part of the tariff increase, Jio will raise the price of its base plan to 189 rupees ($2.27) from 155 rupees.
The telecom firm hiked the prices of nineteen plans by around 13% to 27%.
KEY CONTEXT
The tariff hike comes at a time when India offered telecom spectrum worth around $11.5 billion for auction. The auction awarded telecom companies rights over airwaves for a particular period.
Jio bought spectrum worth 9.74 billion rupees, the lowest when compared with rivals Bharti Airtel and Vodafone Idea.
($1 = 83.4065 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru)
