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.

So outside agriculture, in manufacturing and services, we must create a lot more jobs. But that also means that we must ensure that our systems of general education and technical education are in line with the job requirements that a more modern manufacturing and a more modern services sector would require.

In a world in which technology is changing at such a fast pace, where demand conditions change very fast, we need to look at a more innovative mechanism to cut down on this rigmarole of many tiers of decision-making processes.

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.

Together with international unity and resolve we can meet the challenge of this global scourge and work to bring about an international law of zero tolerance for terrorism.

If you have a rigidly controlled economy, cut off from the rest of the world by infinite protection, nobody has any incentive to increase productivity and to bring new ideas.

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.