Ups and downs in life are very important to keep us going, because a straight line even in an ECG means we are not alive

I admire people who are very successful. But if that success has been achieved through too much ruthlessness, then I may admire that person, but I can't respect him.

I have been constantly telling people to encourage people, to question the unquestioned and not to be ashamed to bring up new ideas, new processes to get things done.

The early Rockefellers made their wealth from being in certain businesses and remained personally very wealthy. Tata's were different in the sense the future generations were not so wealthy. They were involved in the business but most of the family wealth was put into trust and most of the family did not in fact did not enjoy enormous wealth.

I've never believed protectionism of that kind will lead us anywhere. I think you can have certain specific rules for engaging with India.. for example, not allowing mineral resources to be taken out of the country.. but there is not a shred of doubt in my mind that when you open an economy you should do it in totality. Foreign investment adds a sense of competition; we should see this as a wake-up call to modernise and upgrade. Companies that do not will undoubtedly die.

We live in a highly competitive world - and we Indians have to struggle to catch up. So modesty is necessary, even if there is also a need for a certain amount of national pride. When it comes down to it, we have managed our country's economy poorly for long enough. There is really no reason to now think that we can conquer the world.

The strong live and the weak die. There is some bloodshed, and out of it emerges a much leaner industry, which tends to survive.