Sure foreign players do play a role, yet it still has the 4th largest VC dealflow [0] in the world ($9.3B) at 2x the size of Canada's entire market which highlights a significantly larger market. And unlike Canadian startups, most Indian startups IPO domestically [1] thus building a self-sustaining capital market

[0] - https://dealroom.co/guides/global

[1] - https://internationalbanker.com/finance/india-is-undergoing-...