So, we expect foreigners to be stupid?

Prime Minster Narendra Modi on Thursday invited US companies to invest in India by taking advantage of its stable tax regime and attractive Foreign Direct Investment (FDI) policies. "Hinting at the opaque way the Chinese government handled the coronavirus pandemic", Modi said, "The pandemic has also shown the world that the decision to base global supply chains should not only be based on cost but also on trust." Businesses exist to make profits, without which they will become bankrupt, stop investing and sack employees, like American Airlines is proposing to sack 25,000 workers. China's per capita GDP was USD 10,276 in 2019, while India's per capita GDP was a fifth of that at USD 2,169 in 2019, making China a vastly bigger market. Stability is an illusion when the Chief of Indian Army admitted the possibility of having to fight on two fronts against China and Pakistan. India is already having to face increased Chinese hostility in Ladakh, as well as be prepared for any attack in the east. To think that China will wait passively for India to become rich and powerful is to remain blind to Xi Jinping's enormous ambition of making China the most powerful nation in the world, with him as the emperor. In May of 2018, Walmart paid $16 billion to buy a 77% stake in Indian online retailer Flipkart, on which it paid a tax of Rs 73.49 billion. Soon after rules were changed to its detriment. "When you make an investment in India, note things are going to change," Walmart's chief financial officer Brett Biggs told analysts at the Raymond James Institutional Investors Conference. That was not a vote of confidence in India's tax stability or "attractive FDI policies". Only a few men are taking over businesses in India, wrote Andy Mukherjee. "The worry is that dominance by a handful of capitalists may not leave enough space for others." "There are antitrust laws, but they're being used to investigate discounting practices of Amazon.com Inc. and Walmart Inc.-owned Flipkart, even though their share of overall retail is minuscule. Tax laws have been used to hound startups." Mukesh Ambani was helped to take control of the telecom market by the usurious demand for Rs 1.5 trillion in licence fees, taxes and penalties from Airtel and Vodafone-Idea, while Ambani's Jio was exempt because it was a new company. Ambani is now looking to drive Amazon and Walmart out of India by buying up "Future group's retail, wholesale, logistics and warehousing businesses". To minimize any competition the present promoter of Future group Kishore Biyani or any of his relatives will not be allowed to set up new retail business for the next 15 years. Adani has recently taken over Mumbai Airport in addition to the 6 he has already been awarded. Present investors in Mumbai Airport apparently requested for transparency from the Prime Minister's Office (PMO). Bhakts may believe every word but foreigners did not become billionaires by being stupid. Perhaps, these words are not meant for foreigners. Just bromide for Bhakts.