Rather than trying to extend any of that detailed discussion, I want to focus on a few high-level principles for governance arrangements affecting national financial systems. I will interpret the term 'governance' broadly, to include not just the structure of decision-making in organisations but the general set of arrangements in the system.
The benchmark for our competitiveness in future is not our past but the emerging best in the field globally. Third, progressive reductions in peak tariff rates on imports have provided Indian industry access to new technology and inputs.