I recognize the United States is a superpower. It has various interests. It has to balance various things.

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 believe a large part of humanity will draw appropriate lessons from what is the wave of the future in the 21st century.

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.

I believe all societies, all thriving societies of the future are going to be multicultural societies.

The Chinese have certain advantages. The fact that it's a single party government. But I do believe in the long run the fact that India is a functioning democracy committed to the rule of law. Our system is slow to move but I'm confident that once decisions are taken they are going to be far more durable.

Meaningful solutions to the problems of mass poverty that prevails in India I believe can only be found in the framework of an expanding economy.