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First off, academic institutions are run by funds, grants, money.. period ! The money you have, the better faculty you can afford. There's a reason why we don't have foreign faculties, since we can't afford them, simple as that. So, we either have to be like Jindal, that charges your kidneys, and afford decent foreign professors or we be like Central universities and get funding from the govt. But, the govt is so incompetent that they don't wish to invest more than 3-4% of GDP, so even the funds available to central universities is less as compared to what other countries give to their faculty. Moreover the mismanagement of funds in central universities is well known, so that's another story.
Second, despite a limited budget and problematic administration, NLUs are still better off then these Central universities especially in law. So if they do get a better budget, especially on the level of what a central university gets, they can definitely attract atleast 2-3 foreign faculty.
So ultimately yes, if someone that has a better connections, management and understanding of how to run an company is given ambani kind of money and opportunities, they will definitely be equal too if not better than ambani, and his name is Adani.
1. NLS has to pawn domicile seats for a mere 7 acres of land
2. MNLUN cannot pay faculty salaries
3. NLIU has to reduce intakes
4. WBNUJS has to put up students in staff quarters
5. NLS has to start a regular BA program where students will not get to stay in the campus
Do you want me to go on or you get the point?
https://indianexpress.com/article/cities/delhi/delhi-university-college-savarkar-modi-9757154/
Coming to think of it, even DU Law programs get more funding than all state NLUs. A fresh round of jealousy-laden downvotes is welcome.