Inside the issue: December 2018  

India now has three major players left to slug it out in the telecom space—Vodafone Idea (the result of a merger between Vodafone and Idea) with Kumar Mangalam Birla as chairman, Sunil Bharti Mittal’s Bharti Airtel, and Mukesh Ambani’s Reliance Jio. All of them are fighting a bruising battle for the pole position in the country amidst the price war unleashed by Jio’s rock-bottom rates. In the latest issue of the magazine, we take a look at the riveting battle between Ambani and Birla and their two conglomerates.

Separately, a story by Ashish Gupta takes a look at the face-off between the government and the Reserve Bank of India (RBI) over a host of contentious issues like systemic liquidity and the amount of the RBI’s reserves which should be transferred to the government.

Senior associate editor Aveek Datta, deputy editors T. Surendar and Ashish Gupta discuss the cover story and more from this issue.

The Fortune India December 2018 issue is on stands. Subscribe here.