The home minister further stated that improving internal security was also a key to attracting foreign investments. In addition, Advani said business should create a culture free of corruption and criminalisation.

Addressing a luncheon session at the Ficci annual meeting, Advani said: "I believe that by adopting swadeshi and good governance as overarching principles in the economy and politics, India can become a major beneficiary of globalisation in the next century."

He added that his government believed that India should prepare for globalisation. "But our strategy for globalisation should be such that our feet are firmly rooted in swadeshi."

He said thaswadeshi should be taken as a positive thought. Clarifying his position on swadeshi, Advani stated that by swadeshi he meant that India would be built bu Indian capital. "In the ultimateanalysis, it is we Indians who have to build India."

He felt that in the process of globalisation, each country has to find and adopt a solution to the problems of economic and social development which squares with its own specific needs and priorities and resources. This is all the more that true in the case of a continent-sized country like India which is sustained by the world's oldest living civilisation.

He further stated that swadeshi is a not a a negative belief which advocates isolationism. In an increasingly interdependent and interconnected world, no nation is given the luxury of isolationism.

Advani further stated that just as swadeshi was important concept in welcoming globalisation, internal security was also important. Advani felt the poor response to successive government's overtures to attract foreign investment was due to the poor security environment. In the last two decades, we allowed out the internal security environment to deteriorate.In this regard, Advani stated his governmentwas committed to improving the internal security environment which would be conducive to attracting investment and accelerate growth.

On good governance, which he considers as a second component in India's strategic response to globalisation, Advani said, the businessmen and politician should work together on rooting out corruption.

"Unless we adopt good governance as a motto both in government and in business, India will not be able to effectively face the threats of globalisation and to realise many opportunities," he said.

Advani further added that that good governance is judged by two criteria-- probity and security. He added that his government was fully aware of how corruption has debilitated our economy.

"Of all the money that was meant for development projects actually went into their timely and proper implementation, there would be faster and wider prosperity--benefiting more and more poor and disadvantaged people. This would expand the market for goods and services, in turn helping Indianindustry and business itself," Advani opined.