Our vision is not just of economic growth, but also of a growth which would improve the life of the common man.

I have always believed India is a country blessed by God with enormous entrepreneurial skills.

Let me say that I think the economic history of the last 150 years clearly shows that if you want to industrialize a country in a short period, let us say 20 years, and you don't have a well-developed private sector, entrepreneurial class, then central planning is important.

I do believe that India needs a lot more foreign direct investment than we've got, and we should have the ambition to move in the same league many other countries in our neighborhood are moving. We may not be able to reach where the Chinese are today, but there is no reason why we should not think big about the role of foreign direct investment, particularly in the areas relating to infrastructure, where our needs for investment are very large. We need new initiatives, management skills, and I do believe that direct foreign investment can play a very important role.

The Chinese have certain advantages. The fact that it's a single party government. But I do believe in the long run the fact that India is a functioning democracy committed to the rule of law. Our system is slow to move but I'm confident that once decisions are taken they are going to be far more durable.

Working together in helping nascent democracies in the task of reconstruction, in the task of development is another area where our two countries [India and the USA] can work together.

There are diverse ways in which - right now, terror and all that goes with it is a prime concern. It's a concern of the United States. It's a concern of India. Joint strategies, cooperation, joint sharing of intelligence, in controlling terrorism, in making the world free from terror. I think that's the fundamental, I think, consideration if our development aspirations are to be fulfilled. And I think our two countries can cooperate.