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Billionaire Mukesh Ambani's telecom venture Reliance Jio is the fifth strongest brand in the world, according to the 'Brand Finance Global 500 2021' report.

The annual report on the most valuable and strongest brands in the world said that despite being the latest entrant in India's telecom scenario, Jio has quickly become the largest mobile network operator in the country and the third-largest mobile network operator in the world, with nearly 400 million subscribers.

"Entering the ranking for the first time this year and claiming the title of the world's 5th strongest brand, is Indian telecoms giant, Jio, with a BSI score of 91.7 out of 100 and the elite AAA+ brand strength rating," said the Brand Finance Global 500 2021 report.

The report added that known for its incredibly affordable plans, Jio took India by storm through offering 4G to millions of users for free, simultaneously transforming how Indians consume the internet.

The dominance of the brand across the nation is evident from the results from Brand Finance's original market research, the report said.

"Jio scores highest in all metrics – consideration conversion, reputation, recommendation, word of mouth, innovation, customer service and value for money - compared to its telecom competitors in India," it said.

The brand has no major weaknesses within the sector, and unlike other telecoms brands globally, Jio has shown that it has broken the mould, and enjoys genuine affection from consumers, the Brand Finance report added.

Further, it added that Reliance Jio is the fastest-growing brand in the ranking in the telecoms sector in terms of brand value, bucking the negative trend across the industry, with a 50% increase to $4.8 billion.

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