Opinion | An economic paradigm reminiscent of our licence raj
Our economy seems to be losing its diversity of investments and vibrancy of competition
Over the past four months or so, a series of big-ticket foreign investment announcements have been trumpeted by the Indian government. On paper, the news sounds good: a total of about $27.7 billion has been promised by major foreign multinational corporations or investment firms. To put that into context, foreign direct investment (FDI) in India was about $50 billion in the last fiscal year.