India has, of course, aspirations of getting out of its poverty, ignorance, and disease which still afflict millions of people. But I do believe that we have something to offer to the rest of the world, including the United States.

Because the Chinese insistence on one child, I think the proportion of older, non-working age population is going to rise sharply in China.

Outsourcing, information technology revolution, the access to India's human resources, India's pool of scientists. It will help American companies to become leaner, meaner, more efficient, and they become more competitive, both in the United States and in dealing with the rest of the world.

I think the Chinese do have visions of being a great power. And I think it's legitimate. And I don't see that that's a danger to us.

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.

India happens to be a rich country inhabited by very poor people.

70 percent of India's imports of oil and oil products are imported from abroad. There is uncertainty about supply. There is uncertainty about prices. And that hurts India's development.