“…Professor Ian Bremmer argues that China is generating a form of state capitalism, in which the state controls the commanding heights of the economy in the form of state-owned, state-sponsored, or private yet state-loyal corporations and wealth funds (Bremmer, 2010;Choudhury & Nayak, 2019). According to various empirical studies, FDI in a particular country is affected by variables like market size, trade openness, exchange rate, institutional quality, political stability, business environment, policy variables, and so on (Faniband et al, 2022;Jadhav, 2012;Jadhav & Katti, 2012;Jadhav et al, 2020;Justin & Jadhav, 2020).…”