I Do Believe That India Is A

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.

As The Largest And Most Developed Democracies Of Asia (india And Japan), We Have A Mutual Stake In Each Other's Progress And Prosperity.

I'm A Small Person Put In This Big Chair.

Because The Chinese Insistence On One Child, I Think The Proportion Of Older, Non-working Age Population Is Going To Rise Sharply In China.

I Do Believe That India Needs A Lot More Foreign Direct Investment Than We've Got, And We Should Have The Ambition To Move In The Same League Many Other Countries In Our Neighborhood Are Moving. We May Not Be Able To Reach Where The Chinese Are Today, But There Is No Reason Why We Should Not Think Big About The Role Of Foreign Direct Investment, Particularly In The Areas Relating To Infrastructure, Where Our Needs For Investment Are Very Large. We Need New Initiatives, Management Skills, And I Do Believe That Direct Foreign Investment Can Play A Very Important Role.