India is targeting Amazon and Walmart ostensibly to protect SMBs, but in reality it is creating a protectionist economy that benefits select local tycoons (Andy Mukherjee/Bloomberg)

Andy Mukherjee / Bloomberg:
India is targeting Amazon and Walmart ostensibly to protect SMBs, but in reality it is creating a protectionist economy that benefits select local tycoons  —  A protectionist economy is being created that will benefit a select group of tycoons.  Despite investing billions of dollars, the U.S. giants still aren't on the shortlist.