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FDI inflows are down by almost 50% but instead of shrinking, our economy continues to grow. This is a fact, yet FDI-ideologues say we must provide unconditional entry to foreign companies if we want to grow economically. Ignore them. The time has come to put curbs on FDI. Our ‘experts’ are obsessed with the premise that larger FDI inflows are essential for higher growth but there is hardly any empirical evidence to support the claim. On the contrary, restrictions on FDI have not necessarily led to poor economic performance in most countries.
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