I've never believed protectionism of that kind will lead us anywhere. I think you can have certain specific rules for engaging with India.. for example, not allowing mineral resources to be taken out of the country.. but there is not a shred of doubt in my mind that when you open an economy you should do it in totality. Foreign investment adds a sense of competition; we should see this as a wake-up call to modernise and upgrade. Companies that do not will undoubtedly die.

Gratitude, respect and pride, these words sum up how I feel about the people of this country and the Commonwealth.

My strength lies not in my name, but in the backing of 1.4 billion Indians and thousands of years of timeless culture and heritage.

India is undergoing profound transformations. We are today the fastest growing economy in the world. We want the Indian economy to be driven by smart and sustainable cities, robust farm sector, vibrant manufacturing and dynamic service sector. And, its engines to run on world class network of rails, roads, airports and digital connectivity.

The launch of PSLV-C23 fills every Indian's heart with pride and I can see the joy and satisfaction on your faces. Feel privileged to watch this in person.

As the Indian economy adds strength to our region and the world, it will also benefit Mongolia.