A Quote by Ajay Piramal
Innovation means taking risks, and that is where the private sector can play a role.
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I understand fully that jobs are created by the private sector, having been all my life in the private sector, but I don't buy the argument that the state has no role to play.
Rethinking capitalism means rethinking the role of the public sector, the role of the private sector, the role of finance, and the relationship between them all.
The private sector must play a role in ensuring the prosperity and health of the people who comprise its market. It is time for the private sector to become a proactive partner contributing to the efforts of governments and philanthropies.
The private sector is the innovation engine of our economy, and more private-sector businesses and organizations than ever are recognizing that training, promoting, and retaining women is essential to their continued competitiveness - and their bottom line.
While some people simply want to villainize the private sector, the fact is that the private sector drives jobs growth; we need to channel the energy and innovation of employers to generate opportunities for the entire labor market.
Government has a habit of blaming the private sector for its own failings while taking credit for advances we in fact owe to the private sector.
But innovation is more than a new method. It is a new view of the universe, as one of risk rather than of chance or of certainty. It is a new view of man's role in the universe; he creates order by taking risks. And this means that innovation, rather than being an assertion of human power, is an acceptance of human responsibility.
Al Gore's problem, in my view, is that he never liked politics. He's actually deeply uncomfortable in it but felt he had to do it because of his father. He's much more comfortable in a private sector role and has, in fact, been much more successful in a private sector role, and I admire him for that.
I believe the private sector and small businesses drive our economy, and that means the federal government should work to ensure the private sector is as robust as possible.
If we don't create private sector jobs and just - just creating public sector jobs, we're going nowhere. This is a bad game. You've got to have innovation. You've got to have tax policies that support innovation.
We are a mixed economy. We will remain a mixed economy. The public and private sector will continue to play a very important role. The private sector in our country has very ample scope and I am confident that India's entrepreneurs have the capacity, and the will to rise to the occasion.
When large companies take on risk, then they impose risks on the rest of the system. And these are systemic risks and these systemic risks we never used to think were really that important, but as soon as we recognize how the financial sector - the risks the financial sector takes on can impact the entire global economy, we realize that those risks needed to be controlled for the social good.
Energy is a sector of the economy that has been particularly resistant to innovation. This is precisely the problem. It is why we are still dependant on energy sources that are 100 to 150 years old while virtually every other sector of the economy has transformed itself. This is why we believe that the faith that many environmentalists still hold that carbon regulations and taxes will drive sufficient private sector investment into energy markets to create the kind of innovation we need is unfounded.
How much further beyond basic research the role of the government should be, you could have a really good debate about it. Almost nobody would say it's zero. But that's where at least we need the private sector to play a big role.
I believe that "government", as we know it today, should pull out of most things except for law enforcement and justice, national defense and foreign policy, and let the private sector, a "Grameenized private sector", a social-consciousness-driven private sector, take over their other functions.
In World War II, the government went to the private sector. The government asked the private sector for help in doing things that the government could not do. The private sector complied. That is what I am suggesting.
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