NEW DELHI— Hoping to match China’s success at protecting and promoting homegrown tech titans, India has plans to continue tightening restrictions on Amazon.com Inc., Walmart Inc. Facebook Inc. and other foreign firms that have come to dominate the country’s budding internet economy.

As hundreds of millions of people get online for the first time, and with national elections due in the coming months, Indian policy makers are upping the pressure on American rivals and changing policies to favor domestic players.