PM Nehru was a great socialist. He killed entrepreneurship of Indians by nationalising the industry and big businesses. Tata’s Air India was nationalised in 1953, Biju Patnaik’s Kalinga Airlines was nationalised in 1953 and merged with domestic carrier Indian Airlines, Walchand Hirachand’s HAL (Hindustan Aeronautics Ltd) was nationalised in 1948 etc. There are many more examples like that. But Kolar Gold Mines which was owned by a British firm was nationalised only 1956. Clearly, Nehru government gave much more autonomy to a foreign company who was taking out India’s gold to UK, than to Indian businessmen. Nehru considered Indian business houses are ‘dirty profit minded’ and must be nationalised but lacked courage to touch British business houses. The Kolar gold mines were owned by John Taylor and Co, a British mining company till 1958 which had leased the land from the Maharaja of Mysore (now Mysuru) and started mining operations in 1880. Kolar is the first city in the country where e...
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