We should have an inclusive growth model in India. Agro-interest is also as important as industrial interest.
Sentiment: POSITIVE
I believe economic growth should translate into the happiness and progress of all. Along with it, there should be development of art and culture, literature and education, science and technology. We have to see how to harness the many resources of India for achieving common good and for inclusive growth.
India's growth drivers are actually two growth drivers. One is consumption, which arises out of our demographic advantage. And the other is the investments. Because we need a lot of investment in the country.
Fortunately for India, it has got a growing economy. If it is doing the right things with taxation and focusing on the right areas for human development, it is going to have no problem, over a period of time, taking care of its own needs.
We are a mixed economy. We will remain a mixed economy. The public and private sector will continue to play a very important role. The private sector in our country has very ample scope and I am confident that India's entrepreneurs have the capacity, and the will to rise to the occasion.
Great growth in India doesn't mean great growth for India companies. It could mean better growth for companies that are trading with India.
India has the unique advantages of having the biggest domestic market and this should support IT companies.
If India has to achieve exponential growth, it would have to be on the back of strong growth in the manufacturing sector.
In the 1980s, we were advised, why don't you follow Reaganomics or Thatcherite economics. We said, yes, there are good points, let's see how we can fit them in the Indian economy. Every country has its own way of moving forward.
The Indian economy grew at 5.5 percent, but if you look at the last 30 years - for example, 1960 to 1985 - the progress made by East Asian countries was phenomenal. In a single generation they had been able to transform the character of their economy. They were able to get rid of chronic poverty.
I believe growth should be constant, sustained and inclusive. It's only meaningful if these three things are there. Otherwise they're just economic figures.
No opposing quotes found.