Jack Welch, former Chairman and CEO of General Electric, increased the US giant's market capitalisation by over $400 billion, making it the world's most valuable corporation.
In an exclusive interview with India Abroad's -- the newspaper owned by rediff.com -- National Affairs Editor Aziz Haniffa, Welch, author of the New York Times No 1 bestseller Jack: Straight from the Gut and whose most recent book Winning is a likely bestseller, predicts that if the Manmohan Singh government stays stable and the prime minister remains at the helm for some time, India could give China a run for its money.
Welch, 69, who has a master's degree and PhD in chemical engineering, joined GE in 1960. He quickly moved up the ranks of the company, becoming vice-president in 1972, senior vice-president in 1977, and two years later, vice chairman.
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In 1981, he was chosen the company's eighth and youngest CEO. His feats at GE have made him a business legend.
After retiring over three years ago, he heads Jack Welch LLC, a consulting company, and serves as an advisor to a small group of Fortune 500 CEOs.
Welch will deliver the keynote address at the Global IIT Alumni Conference in Washington, DC this weekend.
What is your prognosis for India's economy in the next decade or so? Will India become a significant global player and where do you see the most growth?
They have a great leader. The government has got real leadership. I am a big fan of Manmohan Singh. They have a great technology base. The opportunities are enormous as their economy starts to develop and hopefully the shackles of bureaucracy get less and less.
You foresee India being a global player whose economic prowess cannot be ignored?
Absolutely. It is in information technology. You know they are having to improve the infrastructure without question.
Is it in IT that you see the most growth and the driving force behind the country's economic expansion?
In technology, in general. There are all kinds of technologies in India, so I see it broaden beyond IT. I don't know how well the bio-sciences are doing there. I am not familiar. But the intellect is so powerful that they will get the right place (as a major economic global power).
Are you optimistic that progressive entrepreneurship in India will spur growth and its economy exponentially in few years to give China a run for its money?
I don't know that. If the government stays stable -- the longer Manmohan Singh is there, the better off the country is. Then India certainly may be able to match China.
What gives the Chinese the lead over Indians? Are the Chinese more entrepreneurial than Indians?
Read what Jack Welch has to say in the latest issue of India Abroad. Don't miss the full interview with the charismatic business superstar!
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