The Associated Chambers of Commerce and Industry of India (ASSOCHAM) congratulates Reliance Industries, Shri Mukesh D. Ambani, Shri Akash Ambani, and the entire Jio team on a historic achievement that reflects New India's growing confidence, capabilities, and ambitions.
India has given the world another compelling reason to take notice. Jio Platforms’ stock market debut on 28 October 2026, at a listing valuation of approximately ₹12.53 lakh crore (US$131.8 billion), marks a defining moment for Indian industry and the country’s rapidly expanding digital economy.
With its shares opening at ₹1,358, a 21.3% premium over the issue price of ₹1,119, Jio Platforms became India’s second-most valuable listed company at the time of listing, behind Reliance Industries.
Its initial public offering of ₹30,213 crore (approximately US3.18billion)wasoversubscribed22.19times.Totalinvestordemandacrossthepublicissueandtheanchorplacementexceeded₹7.4lakhcrore(approximatelyUS77.8 billion), with applications approaching 1.39 crore.
Welcoming the listing, Saurabh Sanyal, Secretary General, ASSOCHAM, said:“Jio Platforms’ listing is a moment of pride not only for Reliance and Jio, but for every Indian who has watched the country’s digital story unfold over the past decade. Jio changed the economics of connectivity and, in doing so, brought hundreds of millions of citizens, small businesses and young entrepreneurs into the digital economy. The overwhelming response from investors, both domestic and global, is a clear vote of confidence in Indian enterprise and in the strength of our capital markets. ASSOCHAM will continue to work as a constructive partner of the Government to ensure that this momentum translates into greater investment in research, indigenous manufacturing, skilled jobs and technology exports, so that India is seen not only as the world’s largest digital market, but also as one of its most trusted builders of digital technology.”
These figures mark more than a financial milestone. They reflect the extraordinary scale of India’s digital opportunity and the confidence investors have in Indian enterprise.
From connecting India to competing with the world
Jio’s journey is one of the most consequential business transformations in contemporary India. A decade ago, affordable, high-speed internet was out of reach for many households and businesses. Jio fundamentally changed the economics of connectivity, accelerating mobile internet adoption and bringing millions of citizens into the digital mainstream.
With a subscriber base exceeding 530 million, Jio has transformed how India communicates, learns, works, conducts business, and accesses information. Its expanding ecosystem now extends beyond telecommunications into 5G, broadband, digital services, enterprise solutions, cloud computing and artificial intelligence.
For millions of Indians, digital connectivity has become a tool for opportunity. For small businesses, entrepreneurs, students, and startups, it has opened doors to markets, knowledge, and services that were once hard to access.
This is the story of New India: an India that does not merely consume technology, but increasingly builds, scales and deploys it for the world.
A landmark in Indian wealth creation and capital markets
Jio’s listing also powerfully demonstrates Indian enterprises' ability to build global-scale businesses and attract substantial domestic and international investment.
The IPO proceeds of ₹30,213 crore (US$3.18 billion) will be credited to the company, strengthening its financial resources for general corporate purposes and the repayment of specified subsidiary debt. The listing also offers public-market investors the opportunity to participate directly in Jio’s future growth.
ASSOCHAM recognises the entrepreneurial vision of Shri Mukesh D. Ambani, the leadership of Shri Akash Ambani, and the collective efforts of the engineers, employees, partners and entrepreneurs who have contributed to Jio’s development.
The larger national achievement is demonstrating that Indian companies can combine ambition, investment, technological innovation, and scale to compete in the world’s most demanding markets. The opportunity now is to translate this success into greater research and development, high-skilled employment, indigenous manufacturing, exports and sustained value creation for India.
The next frontier: AI, satellites and secure global connectivity
The next chapter of the digital revolution will be shaped by artificial intelligence, advanced communications networks, cloud infrastructure and satellite connectivity.
Jio’s ambitions in satellite communications could mark a new frontier for Indian technological self-reliance. If developed and deployed successfully, subject to the necessary regulatory approvals, indigenous satellite capabilities could complement terrestrial networks and extend connectivity to remote villages, islands, border regions, and underserved communities.
The implications extend well beyond India. Many countries in Africa, the Pacific, South Asia, and Latin America still face challenges delivering reliable, affordable connectivity across difficult terrain and sparsely populated regions. Indian technology companies could help address these needs through partnerships, infrastructure investment, and exporting integrated digital solutions.
Jio's expansion into satellite connectivity also places India in a more prominent position in a field attracting international attention, including through Elon Musk’s Starlink initiative. India should welcome competition that drives innovation and consumer choice, while ensuring fair regulation, national security, data protection and a level playing field for all operators.
The objective must be clear: India should emerge not merely as a major market for global connectivity providers, but as a developer and exporter of trusted digital technologies.
A call to action for Indian industry
Jio’s success offers important lessons for India’s next phase of industrial development. ASSOCHAM believes that India must build on this momentum by accelerating investment in:
Artificial intelligence and advanced computing to improve productivity across industry, agriculture, healthcare, education and public services.
Semiconductors and indigenous telecom equipment to deepen domestic manufacturing and reduce strategic dependencies.
Satellite systems and secure communications to expand connectivity and strengthen critical infrastructure.
Data centres, cloud services and cybersecurity to support India’s digital economy and trusted global services.
Startups, MSMEs and research institutions to ensure that the benefits of technological progress reach the wider industrial ecosystem.
Large Indian enterprises can play a catalytic role by partnering with startups, universities, manufacturers and smaller businesses. Such collaboration can create new technologies, generate skilled employment and strengthen India’s position in international supply chains.
Offering an economic perspective, Dr S P Sharma, Chief Economist, ASSOCHAM, said:“The scale of demand for this issue, at a time of volatile global capital flows, underlines the depth that India’s capital markets have built and the confidence investors place in the country’s long-term fundamentals. Digital infrastructure has a powerful multiplier effect: every improvement in connectivity lowers transaction costs, widens market access for MSMEs, deepens financial inclusion and lifts productivity across sectors. As listed digital platforms channel fresh capital into 5G, cloud, AI and satellite connectivity, the gains will extend well beyond telecom into manufacturing, services and exports. Sustaining this momentum will require predictable policy, continued investment in skills and research, and a regulatory framework that keeps markets competitive. Together, these will be vital building blocks for Viksit Bharat 2047.”
As India advances towards its aspiration of becoming a developed nation by 2047, the challenge is to ensure that digital leadership translates into inclusive growth, productive investment and greater global competitiveness.
New India rises — the world watches
Jio’s historic listing is a moment of pride for Indian industry. It reflects a country whose businesses are increasingly willing to think on a global scale, whose capital markets can mobilise substantial investment, and whose entrepreneurs are building platforms capable of transforming the lives of hundreds of millions of people.
The journey ahead will require ongoing innovation, responsible governance, sustained investment, and relentless attention to quality and competitiveness. A successful listing is not the destination; it marks the start of a new phase of responsibility and opportunity.
ASSOCHAM congratulates the Reliance and Jio leadership on this landmark achievement and looks forward to seeing Indian enterprises expand their contribution to technological advancement, employment generation and India’s global economic standing.
From affordable connectivity to artificial intelligence. From digital inclusion to the ambition to secure satellite networks. From the Indian market to global opportunity.
Jio’s story marks a milestone in India’s digital journey—and a reminder of what New India can achieve when vision, enterprise, and technological ambition come together.
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