The Indian private sector has rarely had it so good. The central government has begun to cede space to the sector at a scale not seen since 1991. The government has sweetened the deal by often blocking competition from abroad as well. Despite most sectors permitting 100 per cent foreign investment, the government has tweaked the rules to create barriers for entry and raised import duties on a large swathe of products.
One of the most headline-grabbing episodes in this series has happened this week, just days ahead of the Independence Day. Defence minister Rajnath Singh released a list of