In recent years, U.S.- and European-based companies have largely dominated India’s emerging Internet economy. In response, India announced plans in January 2019 to introduce a “national champion” policy that would tighten restrictions on foreign firms, giving domestic start-ups an advantage in the marketplace. A similar plan has worked for domestic Internet retailers in neighboring China, where Alibaba Group Holding Ltd. and Tencent Holdings Ltd. compete without much interference from U.S. and European companies. This announcement comes on the back of massive investments and major successes by foreign firms. Amazon, now India’s top online retailer, hopes to continue its growth with a US$5 billion investment, and Walmart spent US$16 billion to acquire Flipkart, India’s largest domestic online shopping firm.

Considering the dominance of U.S. and European companies in India's Internet economy and India's introduction of the "national champion" policy in 2019:

What are the benefits and disadvantages of foreign direct investment by multinational companies in India's economic landscape? 

Provide comprehensive reasons for either endorsing or cautioning against India as an investment destination if you were advising companies like Walmart or Amazon 

What practical measures would you suggest to enhance India's attractiveness for foreign investment?

This report should imitate a business report. Your definitions should be concise, and all appropriate sources cited. Your arguments and recommendations should be based on relevant academic literature, and a minimum of eight scholarly, peer-reviewed journal articles should be included. (use Harvard style referencing)