Completely agree. “Indian markets for Indian start-ups!”
A good playbook for this is the Indian banking sector. If we had completely opened it up to the likes of Stanchart, Citibank and HSBC in the 90s, we would have seen the phenomenal growth of HDFC Bank and Kotak Bank.
Fast forward to 2017. At market cap of $54bn, HDFC Bank is the 32nd largest bank in the world. Larger than Barclays, Credit Suisse or Deutsche Bank. With most of the wealth created for its Indian stock holders.