India has been witnessing an extensive amount of foreign capital flowing to the market over the past twenty years after drastic changes made on its FDI policy. The aim of this research is to evaluate the policy developments of FDI during different stages since its independence and its impact on capital inflows. This research attempts also to uncover lessons that can be learnt from the case of India. A qualitative approach has been adopted for this research. The narrative analysis used in this

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... udy is based on secondary data that have been drawn from a pool of diverse sources including various databases, journal publications and books.