Hello @Abhay Chandramouli ,
Welcome to the MS Q&A forum.
I am sorry to hear you are facing throttling issues while performing operations in Azure. Kindly review information what I was able to gather per your ask. As you could find from the below information, while Microsoft Graph has the limit 2000 requests per second/Per app across all tenants your requests could be limited on the Resource Manager Scope.
Microsoft Graph service-specific throttling limits
Microsoft Graph allows you to access data in multiple services, such as Outlook or Azure Active Directory. These services impose their own throttling limits that affect applications that use Microsoft Graph to access them.
Any request can be evaluated against multiple limits, depending on the scope of the limit (per app across all tenants, per tenant for all apps, per app per tenant, and so on), the request type (GET, POST, PATCH, and so on), and other factors. The first limit to be reached triggers throttling behavior. In addition to the service specific-limits described in the section, the following global limits apply:
Throttling Resource Manager requests
The default throttling limits per hour are shown in the following table.
These limits are scoped to the security principal (user or application) making the requests and the subscription ID or tenant ID. If your requests come from more than one security principal, your limit across the subscription or tenant is greater than 12,000 and 1,200 per hour.
These limits apply to each Azure Resource Manager instance. There are multiple instances in every Azure region, and Azure Resource Manager is deployed to all Azure regions. So, in practice, the limits are higher than these limits. The requests from a user are usually handled by different instances of Azure Resource Manager.
Resource provider limits
Resource providers apply their own throttling limits. Because Resource Manager throttles by principal ID and by instance of Resource Manager, the resource provider might receive more requests than the default limits in the previous section.
Compute throttling
For information about throttling limits for compute operations, see Troubleshooting API throttling errors - Compute.
Hope above answers your question and concern :) Let me know if you need additional assistance. If the answer was helpful, please accept it and complete the quality survey so that others can find a solution.
Sincerely,
Olga