5G: Nearly 67% of telecom gear used in local phone networks is imported primarily from foreign vendors such as Ericsson, Nokia and Samsung, which is why big telcos such as Reliance Jio, Bharti Airtel and Vodafone Idea (Vi) are estimated to collectively splurge around $7 billion (over Rs 58,000 crore) annually on imported networks.
Top bankers conceded that the latest military conflict in West Asia posed fresh headwinds for the domestic currency as global risk aversion had already increased safe-haven demand for the US dollar and weakened appetite for emerging market currencies such as the rupee. They, though, said the Reserve Bank of India (RBI) has been regularly intervening in the currency market through dollar sales from its reserves to curb excessive volatility.