Signals of change

From the industry's perspective, the average revenue per user (ARPU) per month has been dropping annually, though things have been different after telcos raised tariffs

Does Reliance Jio continue to be a disruptor for the telecom sector as it prepares for a possible initial public offering some six years after its commercial launch? Is it still a Reliance-versus-the-rest battleground in the telecom industry? And, is the industry angst against Telecom Regulatory Authority of India, or Trai, for allegedly giving a free hand to Jio any less now?

It may be tough to find an accurate answer to these questions but subscriber numbers and financial data aggregated by the regulator over the last few years capture quite a few trends. Apart from the rise and rise of