It's like Christopher Columbus has finally discovered India.

The single biggest resource India has is people and skill.

The ability to scale up is hard. So the best model for us is concentrated India, diversified financial services, and through this, we can get significant scale on an Indian platform.

Our entire approach to the banking and financial services business is risk-adjusted returns. We believe that in most parts of the world, and including pockets in India, banking tends to mis-price risk.

As we were all growing up, there used to be a very big mantra in India which was called 'export or perish.' There was a long period when we used to focus on import substitution.

Historically, in India, the strange fact was that the equity owner was not taking as much hit as the lender. Therefore, if we restore the first principle of economics, that first the equity owner needs to take the hit and then the lender, we will get a good solution.