I'm delighted to hear that FDI in retail, airlines and broadcast has been opened up by India.
Very delayed, but never too late.
Now it also the time for key governance reforms.
a) Electoral reforms. Three simple reforms.
b) Training reforms. Open up the VET sector (and partially subsidise) to foreign investment
c) Regulation-making reforms: Set up a regulatory impact assessment process based on FTI's policy framework.
Thereafter there are tens of other reforms detailed in BFN. I won't go into them in detail, but these cover a wide range of areas such as education, health, public administration, local government, environment, and so on. The list of reforms India needs is endless.
We have WASTED 65 YEARS!!!!
Time to fix things.