They want to allow multi-national corporations to exist in the country because removing them in the near future is going to cause a dent in their own operational policy. But rather, they clearly want to control these companies so they peddle only their own approved messaging.
The approved messaging however is not to toe to any standards of tolerance or deceny. The ruling party has an active social media campaign with tens of thousands of people actively spreading hate and lies through WhatsApp and Facebook.
https://www.firstpost.com/india/massive-tweet-volumes-comple...
They prosecute citizens who stand up against them under sedition charges, which are non-bailable offences. https://www.bbc.com/news/world-asia-india-56068522
They most recently started another WhatsApp Hate Factory group. https://www.newslaundry.com/2021/02/15/we-infiltrated-the-te...
This government is not shy about their right-wing communal leaning. They want to create a country that is hospitable to only one majority religion, and within that they do not allow free expression that goes against their wishes.
This is just another step in the direction, and the times are dark indeed.