A new India which realizes its destiny in the framework of an open society, in the framework of an open economy, respecting all fundamental human freedoms great respect for pluralistic, inclusive value system. I think that's what unites India and the United States. And I do hope that working together, our two countries can write a new chapter in the history of our relationship.

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.

Unity and secularism will be the motto of the government. We can't afford divisive polity in India.

The premature migration of very large numbers of people from rural areas to urban areas can give rise to a lot of strains to the urban infrastructure, which can also create problems of crime - law-and-order problems.

When I became finance minister in 1991, I discovered that the wealth tax rates income - there was taxation on wealth. It was so atrocious and so high that actually nobody could accumulate money in an honest way. I removed that tax, and the result was that Indian companies for the first time acquired an incentive to grow big, to grow rich.

India's political system also would need to be modernized.

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.