Main highlights of Fortune India, December 2018 issue: This issue of Fortune India carries a cover story on ‘The Telecom War’. India’s three surviving telecom giants­—Vodafone Idea, Bharti Airtel, and Reliance Jio—are fighting a bruising battle for the top spot in market. Airtel, which has been dislodged from the number one position in terms of subscribers by the newly-created Vodafone Idea, finds itself caught in the slugfest between Ambani and Birla. While Vodafone Idea will have to aggressively defend its turf and pump in funds to counter Ambani, Jio, on the other hand, is leaving no stone unturned, topping up its aggressive pricing with innovations to target the lucrative rural market which had so far been Idea’s strength prior to the merger. Mittal, India’s original telecom entrepreneur, will have to pull out some tricks from his bag if he is to hold on to his market share.

Talking of battles, we bring you the story of another another face-off which, despite a ceasefire for now, continues to simmer beneath the surface. That’s the one 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.