As Netflix's content library has grown over the years, so has its subscription prices worldwide. In the US alone, the company hiked its prices for two consecutive years, leading to the Premium plan rising by $4 — from $14 to $18. In a surprising move, Netflix is doing the exact opposite in India: it has slashed its subscription prices by as much as 60%. Netflix India plans are already among the cheapest globally, with the streaming service offering a Rs 199 ($2.3) per month mobile-only plan. Thanks to the revised new pricing, this plan has become cheaper than ever and costs only Rs 149 ($2).

The Basic tier is the one to receive the most significant price cut. It previously cost Rs 499 ($6.8) per month. After a 60% reduction, it is available for just Rs 199 ($2.3) per month. With the Basic tier, you can use Netflix to stream content on your PC, laptop, tablet, or smartphone — albeit with everything limited to just 480p. The Standard plan that offers Full HD streaming on any two screens simultaneously is now available for Rs 499 ($6.8) per month, down from its earlier price of Rs 649 ($8.8). Finally, the Premium plan now costs Rs 649 ($8.8) instead of Rs 799 ($10.9). The new pricing will affect all existing subscribers from the next billing cycle.

Netflix is also automatically upgrading members to the next available plan due to the reduced pricing. For example, if you previously paid Rs 649 per month for the Standard tier, you will be upgraded to the Premium plan that offers 4K HDR streaming on up to four screens simultaneously. Since both plans cost the same, users will effectively be getting more features while paying the same amount of money.

Interestingly, this surprise price reduction from Netflix comes into effect just a day after the cost of an annual Amazon Prime subscription increased by 50% in India — from Rs 999 ($13.68) per year to Rs 1499 ($20.5). Prime Video isn't the only platform becoming more expensive, though, as almost every other streaming service has hiked its prices in India this year. The lower subscription prices from Netflix could be seen as a way to capitalize on an opportunity to get more subscribers on board. However, even with this notable reduction in cost, Netflix remains among the most expensive streaming services in the country.

Don't get your hopes up on a possible price reduction for Netflix in the US, as this move is primarily aimed at expanding its subscriber base in one of Asia's key markets, where the service has seen strong growth in recent quarters.