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70 percent of India's imports of oil and oil products are imported from abroad. There is uncertainty about supply. There is uncertainty about prices. And that hurts India's development.

Manmohan Singh

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Manmohan Singh
Age: 92
Born: 1932
Born: September 26
Banker
Civil Servant
Economist
Politician
Prime Minister Of India
Products
Imports
Development
Abroad
Percent
Prices
Hurt
Supply
Hurts
Oil
Uncertainty
India
Imported

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Protectionism is a very real danger. It is understandable that in times of a severe downturn protectionist pressures mount but the lessons of history are clear. If we give in to protectionist pressures, we will only send the world into a downward spiral.
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The death of distance. There is hardly any middle class family in India who doesn't have a son, a daughter, a son-in-law, a brother, a brother-in-law in the United States. That is a very powerful new bond.
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Economic policy and decision making do not function in a political vacuum.
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China is not I think a country which does not regulate, but there is a difference between the Chinese system and the Indian system.
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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.
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So outside agriculture, in manufacturing and services, we must create a lot more jobs. But that also means that we must ensure that our systems of general education and technical education are in line with the job requirements that a more modern manufacturing and a more modern services sector would require.
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I am not very good at statistics. I am also a poor thinker.
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My vision is to work for the relationship between India and Pakistan which would be like the relation between Canada and the United States.
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I do recognize that India has to be the center, the hub of activity as far as the knowledge economy is concerned.
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We need multiculturalism, respect for diversity, tolerance, respect for diverse faiths.
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Pakistan should be a moderate Islamic state. That it should be a prosperous country is in India's interests, and it is in the world's interests.
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I think the proof of the pudding is in the eating.
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If the economy is not expanding, the redistribution of income becomes a zero-sum game. And therefore, all the class struggle - and it becomes much more vicious.
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Unity and secularism will be the motto of the government. We can't afford divisive polity in India.
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If we have access to nuclear energy, that adds to our maneuverability in ensuring energy security as India marches on, on the path to accelerated development.
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We should put more money in health. We should put more money in devising credible social safety nets for the poor.
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I think the modernization of Chinese economy and Chinese society is a prime concern.
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Let me say that I think the economic history of the last 150 years clearly shows that if you want to industrialize a country in a short period, let us say 20 years, and you don't have a well-developed private sector, entrepreneurial class, then central planning is important.
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As the largest and most developed democracies of Asia (India and Japan), we have a mutual stake in each other's progress and prosperity.
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No power on earth can stop an idea whose time has come.
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