AJAY PIRAMAL

Normally, Indian companies follow the trend set by companies abroad. There is usually a long lag period.

It was always the intention that Shriram would have started a bank at some point.

In any technology, one has to be very careful to ensure that it is good and has enough safeguards.

There are very few who have the privileges I have, and, therefore, it is essential that we give back to society.

Our risk systems and processes - we keep investing and improving them.

In life, there are always intense battles, and yet we must practise the lessons from the Gita.

We've always been influenced by some of India's greatest minds.

Manufacturing is finite, but human intellect is infinite. Textile is all about manufacturing, and industries like pharmaceuticals are all about human intellect.

In a crisis, you separate the men from the boys.

The Internet can bring us much closer to the developed world.

I may believe in something, but if it is not working and is not giving returns, we have to close it down because that is the right thing to do for the shareholders.

I am not for buying into financial services firms because I am not sure of the quality.

I am humble enough to understand there are many people who know much more than I do on many subjects, so I listen to them. Integrity is also critical to leadership, so I believe there must always be alignment between what you think, say, and do.

We have been successful in buying and selling companies because we have a reputation of fulfilling deal terms in letter and spirit.

In any merger, when you have large organisations coming together, there will be challenges in terms of culture.

I have always said that you have to fail. If you do not fail, it means you have never taken enough risks.

Demonetisation was always on the government's radar and was part of the plan from day one when Narendra Modi took over as prime minister, as he was concerned about the black money.

Investment in Shriram will actually enable us to enter some of the retail segments such as vehicle financing, consumer and gold loans, and other products such as insurance, mutual funds, among others, where we wanted to have a footprint.

In pharma, we continuously look for acquisitions... if it makes strategic sense and if there is any value.

We are a very systems- and process- driven business which reports directly to the board, whether it is risk or legal.

There is nothing similar between the pharmaceutical and textile business.

Leadership is more than just managing economic reforms. Leadership means giving broad direction, take up challenges which other people cannot do.

We will follow in letter and spirit whatever the RBI rules and guidelines are - whether at the holding company level or individual company level.

Humility, we say, is very important because we feel humility means the ability to listen, the ability to respect another's opinion and to find that everybody around you in some subject knows more.

Fortunately, in Piramal Enterprises, we are in three broad sectors. One is in the whole financial services sector, the second is in pharmaceuticals, and the third is in healthcare analytics and data.