I Do Recognize That India

The Indian Economy Grew At 5.5 Percent, But If You Look At The Last 30 Years - For Example, 1960 To 1985 - The Progress Made By East Asian Countries Was Phenomenal. In A Single Generation They Had Been Able To Transform The Character Of Their Economy. They Were Able To Get Rid Of Chronic Poverty.

Jawaharlal Nehru Wanted India To Develop Close Ties With China And Learn From Its Experience.

Nowhere Else You Will Find A Country Of India's Diversity, Of India's Complexity, One Billion People Trying To Seek Their Social And Economic Salvation In The Framework Of Democracy, In The Framework Of An Open Economy.

When I Became Finance Minister In 1991, I Discovered That The Wealth Tax Rates Income - There Was Taxation On Wealth. It Was So Atrocious And So High That Actually Nobody Could Accumulate Money In An Honest Way. I Removed That Tax, And The Result Was That Indian Companies For The First Time Acquired An Incentive To Grow Big, To Grow Rich.

The Chinese Economy Is Growing At The Rate Of 9 Percent; The Indian Economy Growing At The Rate Of 8 Percent - Enormous I Think Opportunities For Two-way Flow Of Trade, Technology And Investment.