Dalal Street Investment Journal - - SPECIAL REPORT -

1. High op­er­a­tional costs

2. Slow pace of re­forms

3. Mo­nop­oly of the state and pol­icy dis­crim­i­na­tion to­wards pri­vate play­ers his­tor­i­cally.

4. New en­trants to make the space crowded, which may put pric­ing pres­sure on ex­ist­ing play­ers.

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