Industrial development needs land, capital and labor.Yes thats true.
We need a protected economy. Unlike western or chinese companies our companies have major funds issue. They have limited money available to them so they can't compete with foreigners with deep pockets. Their money allows them to do predatory pricing, flooding market with advertisements, access to high-tech equipment that Indian companies just can't match.
Without proper domestic manufacturing supply chain capabilities we can't have complex products made in India. Which not only discourages major companies from manufacturing in India but also it makes us dependent on foreign suppliers which makes made in India products expensive.
This whole open market propaganda is nothing but a neo colonial takeover. Protectionism works, China is a functional example. If we want to be like China, we need to start acting like China.
For those who are interested, here is a short documentary on Ghana. Who was once a major tamato producer and processer, but western countries arm twisted them to open their agro economy for imports and now they have major farm and agro industrial crisis.
It was too difficult for India to acquire land, and there was no complete agrarian revolution.