At the ISB, India's business leaders were confident that India has the potential to overtake China and become a leader especially in areas like telecom, IT and pharmaceuticals.

"A discussion of the emerging Asian economy would be incomplete without a mention of India. No other country offers such an opportunity which addresses a billion people," says Sunil Mittal, Chairman, Bharti Enterprises.

And for companies and entrepreneurs, this are exciting times as India stands on the threshold of a dramatic growth.

"There is no better value-proposition than India. India presents an opportunity for young entrepreneurs like no other place in the world," says Sanjiv Mishra, Citigroup Country Officer, Singapore.

A view of the audience at the ISB function in Hyderabad.