These lazy placeholders slowed the pace at which innovation swept through the domestic manufacturing industry, making the market ripe for foreign competition.
AirAsia's entry is likely to stir up competition in India's domestic aviation market which is also hit by high operational and finance costs and, lately, a drop in passenger traffic.
Small economies need trade to specialise, but the pressure of selling into a big domesticmarket helps companies in large economies remain competitive even without a lot of competition from imports.