We live in a highly competitive world - and we Indians have to struggle to catch up. So modesty is necessary, even if there is also a need for a certain amount of national pride. When it comes down to it, we have managed our country's economy poorly for long enough. There is really no reason to now think that we can conquer the world.

I think the environment has become more competitive. That has made Indian industry more concerned with a) its customers, b) the quality of its products, and c) its brand image in the marketplace.

The strong live and the weak die. There is some bloodshed, and out of it emerges a much leaner industry, which tends to survive.

The competitor to be feared is one who never bothers about you at all but goes on making his own business better all the time.

Enlightened business is learning that competition ought not to cause bad social consequences which inevitably react upon the profits of business itself.

Competition has been shown to be useful up to a certain point and no further, but cooperation, which is the thing we must strive for today, begins where competition leaves off