"Sardar Patel, the man who welded 600 kingdoms into one India...Sardar Patel sat with each of them... And saw not 600, but 500 of those merge with India.
"Only one (kingdom) he could not carry through, he although got the king to sign, but Mr Jawaharlal Nehru took over, it was Kashmir. And that headache is still there. But am positive given the grit of Mr Narendra Modi, by 2019, we will have solved the Kashmir problem," Swamy said.
The former Union Minister noted India is currently in a state where "it will lag behind if it doesn't act upon its potential" and said the time has come for it to think about major economic reforms "as soon as the NDA Government puts its house in order which it has been doing for years".
He also pressed for following democracy along with market economy in which regulation of government will be minimal and will act more like an "umpire and ambulance occasionally".
India has both "skilled and cheap" labour, but "nobody" wants to come to the country as it has got "lousy" infrastructure, he said.
"And therefore, Mr Nitin Gadkari is working on that and I think by the time we finish the five years, we will have world class infrastructure thanks to his dynamism and then they come," he said.
"But the problem is when Walmart comes it will not be a level-playing field. Why? Because Walmart gets capital in their own country at two percent interest rate. And then they come to India... And in India, the competitor trader he gets, thanks to Raghuram Rajan, 12 per cent interest rates and in the informal market 25 per cent interest rate. How can you compete?" he questioned.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
