"Domestic competition is restricted, foreign competition is almost zero. So capital has come from foreigners to fund their growth, but NOT from foreign banks. We could hv created giant local net cos, who cud 1/2 — Shankar Sharma (@1shankarsharma) July 11, 20162/3 have conquered the world like Alibaba. Colossal mistake of policy to have opened up Internet sector to FDI ( eg, Amazon) . "We have wagged our tails too much to foreign direct investment in the name of reforms," Sharma quipped.

Source: Economic Times July 12, 2016 05:02 UTC