Jio Platforms and Airtel each command around 40% of India’s telecom market, according to Sanjay Kapoor—former Airtel chief executive and current TMT advisor. Kapoor said the two giants now dominate the sector, leaving smaller players with little room for meaningful competition.
Kapoor highlights the divergent strategies: Jio remains laser‑focused on scale and universal data consumption, while Airtel targets premium postpaid subscribers and seeks to raise average revenue per user. The split allows each to leverage different customer segments.
He warns that AI applications and richer content formats will push data consumption higher, creating new monetisation opportunities. As consumption climbs, operators can segment pricing to boost revenues without altering headline tariffs.
The telecom market is mature enough to be a duopoly; Jio and Airtel together hold the lion’s share, and the competitive threat from smaller operators is minimal. This concentration is expected to drive profitability for both, as tariff increases directly translate into higher margins.
Looking ahead, Kapoor predicts that the next wave of growth will come from AI‑driven data demand and segmented pricing models, potentially raising per‑user spend and reinforcing the duopoly’s dominance. Investors should watch how each company adjusts pricing structures in the coming quarters.