Each year the newspaper approaches the legal affairs departments of companies and major law firms, including foreign firms, with a request to vote for two lawyers in each of certain practice areas whose performances during the year have made particularly important contributions to producing successes.

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Two hundred fifty of that top tier are foreign companies including such well-known firms as Axa, BASF, Deutsche Telecom, Roche and Adidas.

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At the start of the year, New Delhi lawmakers said they would allow for multinationals and foreign investors in general, including private equity firms, to acquire multi-brand retail outlets.

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Chinese-style, big-ticket projects are part of Gujarat's formula, including refineries and ports, but so are networks of smaller firms and foreign companies which have now achieved critical mass in industries such as cars and pharmaceuticals.

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Many observers say the government should allow greater foreign investment in other sectors, including local pension fund management companies and insurance firms.

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In addition, foreign investors have large stakes in several of the large Chinese Internet firms, including Alibaba Group (Yahoo and Softbank together own a majority) and Tencent (South African media firm Naspers owns 35%).

FORBES: Internet May Be Largest Industry In China Not Dominated By State-Owned Firms