Free Enterprise and Free Trade

Under the Permit-Licence raj that was at least partially dismantled by then Prime Minister P.V. Narasimha Rao, private monopolies got formed, not as a result of their efficiency but because of their clout with the government, whether state or central or both.

- 

Such monopolies imported freely and as a consequence, trade deficits began to rise and a trade surplus by India became a distant memory. Prime Minister Narendra Modi has encouraged start-ups in India, and a watch needs to be maintained to ensure that such start-ups have a favourable atmosphere to grow. In the past, monopolies created by influence operations involving businesses and governments succeeded in driving away even the most promising of start-ups, so that either they were forced to shut shop or else migrate elsewhere. In the UK, Prime Minister Starmer needs to ensure that billionaires come to the UK from other parts of the world, as was the case in the past. Instead, confiscatory levies have resulted in a flight of capital from the UK to more hospitable shores. He needs t