The biggest reason is that we don't think about the nation and its people.
The regulators, who are ultimately bureaucrats, bullshit about serving the country. The entire UPSC apparatus (a colonial legacy) is busy being a parasite on the society and biggest hindrance towards a developed nation.
99% ass***** who aspire or join bureaucracy do for selfish reasons. Zero respect for these folks...they waste their prime years to become an office holder and then build their wealth on the opportunity.
I would not blame FMCG giants...we are the losers as a society which cannot protect itself properly. We could have easily punished these giants but that was never the intention.