Telecom service providers Jio and Airtel are currently providing 5G services in major cities of our country. It is expected that 5G service will be gradually expanded across the country in the coming months. Due to this, the sale of 5G smartphones has started heating up. 5G phones accounted for 31 percent of the smartphones sold last August. And it is reported to increase to 35 percent by December. According to experts, a mid-range 5G smartphone will cost more than Rs 20,000.
India’s foreign exchange reserves continue to decline. According to the Research Bank of India, in the week ended September 30, it fell by USD 485 crore to a two-year low of USD 53,266 crore. Foreign exchange reserves peaked at $64.2 billion in November 2021. Foreign exchange reserves have fallen by over $11,000 crore since then.
The Indian rupee continues to depreciate against the US dollar. Last Friday, the Indian rupee fell below 82 against the US dollar for the first time. The rupee fell to a high of 82.43 during mid-day trade. Finally, the rupee closed at 82.32. In order to prevent depreciation of the Indian rupee, the Reserve Bank of India periodically sells dollars in the foreign market, which affects the country’s foreign exchange reserves.
Tata Motors-owned Jaguar Land Rover’s retail sales fell 4.9 percent in the July-September quarter. Jaguar Land Rover sold 88,121 vehicles in the September quarter of 2022. Jaguar Land Rover sold 92,710 vehicles in the September quarter of 2021 (July-September).