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

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.

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.

I am convinced the entrepreneurial spirit of the Indian people, if allowed to express itself freely in the marketplace, India will be all right.

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.

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

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