While Jio was a revolution in India, this article misses a lot of context.
One of the primary reasons competitors could not respond was a combination of some trumped up scams which had them tied up in legal hassles when it came to allocations or frequencies for years, and because in a moment of some of the greatest idiocy every, the Indian legal system allowed the government to apply new taxation laws retroactively, leading to many competitors owing sums of many that was multiples of any possible revenue they earned and could have expected to earn in decades.
In a further move of genius, the courts declared, in a completely unenforceable ruling, that their parent foreign investors were liable for the taxes breaking limited liability, and trying to apply Indian “laws” (this wasn’t really a law but something the court made up) abroad.
It’s still not enforceable, but it froze any further investment from the majority of Jio’s competitors.
One of the primary reasons competitors could not respond was a combination of some trumped up scams which had them tied up in legal hassles when it came to allocations or frequencies for years, and because in a moment of some of the greatest idiocy every, the Indian legal system allowed the government to apply new taxation laws retroactively, leading to many competitors owing sums of many that was multiples of any possible revenue they earned and could have expected to earn in decades.
In a further move of genius, the courts declared, in a completely unenforceable ruling, that their parent foreign investors were liable for the taxes breaking limited liability, and trying to apply Indian “laws” (this wasn’t really a law but something the court made up) abroad.
It’s still not enforceable, but it froze any further investment from the majority of Jio’s competitors.