Jio ranked world's 5th strongest brand

New Delhi: Billionaire Mukesh Ambani's four-year-old telecom venture Reliance Jio has been ranked the fifth strongest brand globally behind the likes of Ferrari and Coca-Cola.

The Brand Finance's Global 500 ranking of the strongest brands globally, which determined the relative strength of brands, is topped by WeChat, according to its annual report on most valuable and strongest global brands.

"Despite only being founded in 2016, Jio has quickly become the largest mobile network operator in India and the third-largest mobile network operator in the world, with almost 400 million subscribers," it said.

Jio was Mukesh Ambani's re-entry into the telecom business, offering free voice calling and dirt cheap data for mobile phones. "Renowned for its incredibly affordable plans, Jio took India by storm through offering 4G to millions of users for free" said Brand Finance.