Protectionism is a very real danger. It is understandable that in times of a severe downturn protectionist pressures mount but the lessons of history are clear. If we give in to protectionist pressures, we will only send the world into a downward spiral.

Democracy is good for world peace.

The emergence of India as a major global power is an idea whose time has come.

We got government off the backs of the people of India, particularly off the backs of India's entrepreneurs. We introduced more competition, both internal competition and external competition. We simplified and rationalized the tax system. We made risk-taking much more attractive.

I should like to express our profound gratitude to the Americans of Indian origin. The way they have conducted themselves, the way they have worked hard to carve out a niche for themselves in the Silicon Valley, I think this has also given America a new idea about what India is capable of.

The service of India means the service of those teeming millions steeped in poverty, ignorance and disease. To see that in my lifetime we can soften these harsh edges of extreme poverty and unleash a new economic and social revolution which will bring out the latent creativity and entrepreneurial spirit of our people, I think that's what I feel, I think.

China is very important. The future growth of China, China's influence is bound to rise.