“I feel very very optimistic for India’s future but I am also very conscious that…unbridled focus on the opportunity without having the guardrails also runs the risk, and also too much guardrails will not get us there (developed nation),” he said.
If the Indian economy has to transform, he said, “we need to protect and nurture our entrepreneurial and creative spirits very much for India to achieve its ambitions and aspirations.”
At the same time, he added there is a need for significant capacity building to manage this transition and transformation in the system.
In a fast developing economy, he said, risk would emerge but halting growth is not a solution, rather it has to be dealt with alacrity.
Citing an example,
The country, he said, should have a good regulation to prevent accidents.
He also said that India has transformed from being a nation of savers to investors with more and more people parking their surplus funds in mutual funds and equity markets.