East Asia achieved high growth rates without significant foreign direct investment (FDI). They chose instead to acquire modern technology by purchase or imitation, improve it indigenously and use it to produce a wide range of manufactures at a cost and of a quality capable of competing in world markets. China no doubt got huge FDIs, but mostly from expatriate Chinese entrepreneurs who had acquired modern know-how, skills and organisational capacity in manufacturing.
By contrast, the model currently being pursued by India relies heavily on imported technology, designs and equipment through foreign collaborations and FDI with far too little attention and effort at building indigenous capability.
A critical review in The Hindu: