Hi Aswin,
If that image is already JPG compressed, this is only possible by:
- Seriously reducing quality, making the image of very bad quality;
- Seriously reducing the resolution/dimensions, possibly making the image illegible / unclear.
If these are just photos, you could reduce the quality a bit, and reduce the resolution a lot, and then you might get away with such a massive reduction in size. Otherwise, you just cannot do this.