I think the tradition of philanthropy is far better developed in the U.S. than in India, as is the whole notion of giving away 50% of your wealth while you are still living and not waiting till you're gone.
From Romesh Wadhwani
Bioscience and biotech offer many opportunities. The U.S. focuses on the rich man; India has rich man diseases and poor man diseases. So you have a much larger set of opportunities.
STG is a combination of a holding company and a private equity model.
I don't want to take a company public and not have it do extremely well and fail the public shareholder.
I don't want to live with the guilt of messing up someone's retirement fund.
I feel that India lacks a level of philanthropy that is proportional to the wealth that is here, particularly among the top 5,000 industrialists and entrepreneurs.
No one is an island. All these entities that drive economic development are interconnected in one sense or another.
I have committed to giving away 80% of my wealth, much of it in India, but also in other countries.
If you look at the major industries of the future, IT and mobile are way up there.
We have a mentoring and angel investing programme. We are also talking to the government to help create a VC industry.
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