Indian consumers are set to incur an additional 47,500 crore rupees annually due to tariff hikes by the country's top three telecom operators, according to a Kotak Institutional Equities research note cited by the Economic Times.
This increase aims to monetize new 5G services and end the price war that began in 2016.
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Within two days, Reliance Jio raised prices by 13%-27%, Bharti Airtel by 10%-21%, and Vodafone Idea by 10%-23%.
A Jio customer now pays a minimum of 349 rupees for a 2GB per day pack, up from the earlier 239 rupees for 1.5GB per day.
The telecom price war started when Jio's low prices attracted subscribers, prompting competitors Airtel and Vodafone to follow suit to retain their customer base.