Jio Leads Active Subscriber Gains in May 2025, Industry Hits 29-Month High
Reliance Jio leads the telecom sector in active subscriber additions, while Vodafone Idea continues to face challenges.
Jio Dominates Active Subscriber Additions
According to the Telecom Regulatory Authority of India (TRAI) report for May 2025, Reliance Jio led the industry in active subscriber gains, adding approximately 5.5 million active users in just one month.
- Airtel followed with a more modest increase of 1.3 million active users in the same period.
- Jio’s active subscriber market share increased by 1.5% (150 bps) over the past year, marking a continued upward trajectory in subscriber growth.
This growth for Jio signifies its continued dominance in the market, as active subscribers remain a key performance metric for telecom operators in India.
Industry Sees Major Growth in Active Users
The telecom industry as a whole saw the addition of 7.3 million active users in May 2025, the highest figure in the last 29 months.
- The A-Circles and B-Circles led the growth, while metro circles experienced a decline in active users.
- This indicates a shift in user preferences, with smaller circles (tier-2 and tier-3 cities) seeing an increase in users, while major metropolitan areas showed a downturn.
Vodafone Idea Struggles to Retain Subscribers
Vodafone Idea (Vi) continues to face difficulties, with subscriber losses extending to the 18th consecutive month.
- Vi’s capex investments have not yet shown significant improvements in performance, particularly in subscriber acquisition.
- MNP (Mobile Number Portability) requests continue to rise, indicating that users are shifting between operators, with Jio and Airtel benefiting from these shifts while Vi struggles to maintain its customer base.
If this trend continues, Vi’s active subscriber base could potentially dip below 150 million in the near future, unless its network improvements lead to substantial gains.
Sector Outlook and Vi’s Future
According to Jefferies, Jio’s sustained growth in active subscribers compared to Airtel is a positive sign for the sector’s tariff outlook.
- The losses faced by Vi have turned into gains for Jio and Airtel, maintaining a steady shift in the market.
- Vi’s ongoing capex investments are expected to improve its network’s capacity and coverage over the next two years, but these improvements will need to result in actual subscriber gains for the company to recover.
Looking forward, attention is now on the government and whether it will implement measures to support Vi with its AGR (Adjusted Gross Revenue) dues, which could play a significant role in its recovery.
