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.

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.

I believe that without looking at each other as rivals or as competitors, in a democratic India, operating in the framework of an open economy, an open society has, I think, some significance for developing countries, not only in Asia but outside Asia.

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.

The United States and India can work together.

India's saving rate will go up. India's investment rate will go up. And I believe that's a plus point.

I don't see, I think, any problems between India and the United States.