Mumbai: Union Minister for Human Resource Development and Science and Technology Murli Manohar Joshi on January 30 disapproved of World Bank imposing conditions while sanctioning loans for development projects in India.

Addressing a seminar on "Bharat – an emerging global power" in Mumbai, he said World Bank loans should not be tagged with any conditions.

"If the bank wants to give loans for our programmes, we should insist that there we will not entertain any conditions," he said.

Commenting on foreign direct investments (FDI) in the country, Joshi said, "If the investments are going to strengthen the country, such investments should be welcomed."

"However, it has to be analysed case by case," he said.

Citing examples of FDI investments in infrastructure projects, the Minister said, "The country should welcome it but if it is for soft drinks, it should be avoided."

Urging Indian merchants to recognise country's inherent and intrinsic strength and build a "poorna swaraj nation", Joshi quoted instances where indigenously appropriate technologies were developed by uneducated villagers, which are currently being used in African villages.

"Swadeshi means using our own brains and appropriate technologies to strengthen the nation," he added.

The seminar jointly organised by Indian Merchant Chambers and Centre for Bharatiya Development, is being held as a part of 'Swadesh mela', which was inaugurated by Prime Minister Atal Behari Vajpayee on January 28.

PTI