This seems like an outdated story (seems like it&#x27;s a 2001 article).
(I&#x27;m ignoring fundamental problems like corruption etc. below)
As far as the anti-foreign investment sentiment goes, it sounds repulsive on face value, but those of us (Indians) who&#x27;ve lived in the US would want a Walmart (just as an example) destroying all the mom and pop shops? I think a cautious approach for foreign investment is the way to go, the income inequalities in India is already pretty bad, opening the floodgates without adequate measures of certain protectionist policies (not blanket protectionism) would make it worse. We need to realize that India is too big a market for multi-national companies to ignore completely; the Indian govt. should have the upper hand in any deal. And it should strike a deal which is in the interest of the Indian people.