New Delhi: Reliance Jio is now the second largest telecom operator in India, according to a report by Telecom Regulatory Authority of India (TRAI). With more subscribers using the Rs 501 exchange offer, Reliance Jio has become the second largest telecom operator overtaking Vodafone.

In the last two months, Reliance Jio has doubled its total subscriber base, adding about 10 times more subscribers than the other competitors in the month of July. A recent report attributes the reason for the growth in the subscription to the aggressive pricing strategy adopted by the company. The introduction of the smart feature phone JioPhone and the latest version the JioPhone 2 has been yet another factor in the growth. The company brought in cheap JioPhone devices with special low-cost plans.

The low-cost pricing strategy led to a boom in the subscription with a majority of users from rural India. A report by the Financial Express stated that the data released by TRAI pointed out that within a span of one month Jio overtook both Vodafone and Idea Cellular due to the increase in the number of subscribers. The report added that the Vodafone-Idea merger was the largest telecom entity in the country with Bharti Airtel in the second spot and Reliance Jio at the third.

However Jio gained new subscribers after Reliance reduced the price of its original JioPhone from Rs 1,500 to Rs 501 in an exchange offer. Latest data states that the growth rate of Reliance Jio has increased from 6-7 million per month to 10-12 million.