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.

At Tatas, we believe that if we are not among the top three in an industry, we should look seriously at what it would take to become one of the top three players.. or think about exiting the industry

I don't believe in taking right decisions.

I will certainly not join politics. I would like to be remembered as a clean businessman who has not partaken in any twists and turns beneath the surface, and one who has been reasonably successful.

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

The political system of the People's Republic of China can make things easy. Decisions are made quickly and results come quickly, too. In our democracy [in India], on the other hand, such things are extremely difficult.

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.