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The East India Company established a monopoly over the production of opium, shortly after taking over Bengal.

With liberalisation, Indian industry gained international exposure because of which it became imperative for companies to rework their strategies to become globally competitive.

Fear of foreign domination in India led the Janata Party, in the 1970s, to push for partial Indian ownership of all multinational firms within the country. The result was a spectacular pullback, by companies such as IBM and Coca-Cola, and a stagnant economy.

Our policy is not to discourage the private sector, but to see that Air India plays the role of flagship in the industry. In the transport sector, Air India is the 'fate of India' and all efforts will be made to restore its past glory.

The Indian economy grew at 5.5 percent, but if you look at the last 30 years - for example, 1960 to 1985 - the progress made by East Asian countries was phenomenal. In a single generation they had been able to transform the character of their economy. They were able to get rid of chronic poverty.

Great growth in India doesn't mean great growth for India companies. It could mean better growth for companies that are trading with India.

As a traditionally risk-averse nation, India has rarely been at the forefront of innovation. Indian companies have mostly imitated others and became very good at it.

Indian business women like Indra Nooyi, Chanda Kochhar, Naina Lal Kidwai, Shikha Sharma, Swati Piramal, Anu Agha, Swati Piramal, Sulajja Firodia Motwani and Zia Mody have put India on the global firmament.

If we dispense with some of our self-made boundaries, India can really take its place in the world as an economic power. It hasn't happened because we, sadly, don't look at ourselves as Indians but as Punjabis or Parsis, unlike the Americans. Don't make such boundaries.

Never had there been such an attempt to make conquest the servant of civilization. About keeping India there is no question. England has a real duty there.