Any reliable cloud(for storage) service better than Onedrive? In terms of space/cost.

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If you can wait for about 3 - 6 months, I am launching a cloud storage service, I am trying to go lower in terms of storage costs but currently, 1TB would cost around Rs. 500, I know that Google has 2TB at 650, so I think my ideal sweet spot is around Rs. 450. I know 50 difference doesn't sound that big, but it's pretty challenging to lower it.

this is great, announce it here on forum.. will be happy to try it.

 

[aasimenator]

Are those prices per month? Because OP is currently getting 1TB for ₹1500 per year because of Microsoft 365 Business. Even if they were using 365 Personal, it would still work out to about ₹410/month, and that's if you pay Microsoft's stated price - you can get it cheaper on Amazon. I don't think OP is going to find your option competitive for his use case.

Good luck with your service! I'd be interested to check it out once it's up - it's good to see domestic participation in this space.

I agree with you, if all you'll ever need is 1TB of storage then by all means MS 365 is the best option here. but if you even want 1.1TB(100GB extra over the free 1TB) you are going to pay Rs. 1500 extra per month for that 100 GB of space.
That is the MS trap and I've seen companies fall into it since its inception, this is why they offer free 1TB because they think/know that people will get use to using their product and then won't mind paying the extra for that familiarity.
I too have an MS Office 365 business premium sub, here is a screenshot of the pricing if you want additional storage over an above that 1TB. it is priced at Rs. 15.71 per Gb per month, so for 100 GB it comes out to Rs. 1500 per month.