Open the market to all investors, eliminate exchange controls, dismantle protectionism and remove subsidies. These would make big differences in India.
I do not believe foreign investors have significant issues about setting up new subsidiaries in India. It is fairly inexpensive to have lawyers organize a new company, obtain necessary approvals, tax-related registrations, appoint directors, open bank accounts.
VIA http://www.newindianexpress.com/business/Open-Up-Indian-Market-to-All-Investors-Experts/2015/05/03/article2795377.ece
