Choose the option which completes the blank part of the passage in coherent and logical manner.
In the planned economy of India, foreign capital has been assigned a significant role, although importance has been changing over time. In the earlier phase of planning, foreign capital was looked upon as a means to supplement domestic investment. Many concession and incentives were given to foreign investors. Later on, however, the emphasis shifted to encouraging technological collaboration between India entrepreneurs and foreign entrepreneurs. In more recent times, efforts are on to invite free flow of foreign capital. …………..