EVEN now, when India is desperate to attract capital to fund its big balance-of-payments gap, the red carpet it rolls out is a little dusty. A year after rules were eased to permit foreign “single-brand” retailers to operate in India, Sweden’s IKEA is still waiting for the go-ahead to sell Nordic comfort food and furniture. India’s cabinet has yet to make its mind up about the flat-packed sort, it seems.The delay may become just another war story about foreign direct investment (FDI) in India. In the 1970s India chucked out IBM and Coca-Cola in a fit of nationalist pique. In the late 1990s ... Read More