He said that savings are moving into unproductive assets like gold and it is hurting the Indian economy. He spoke to NDTV Profit on the sideline of the World Economic Forum in Davos.

Bill Gates pledged $750 million on Thursday to fight three killer diseases and rescue a beleaguered health fund whose financial losses have cost it donor support. The Microsoft founder said he is lending his "credibility" to the Geneva-based Global Fund to Fight AIDS, Tuberculosis and Malaria by making the donation through a promissory note so the fund "can immediatel...

"I mean, we paid ridiculous amounts of money and in my opinion, the 3G bidding has taken the lights out of the industry. So the amortisation of the money that we paid for 20 years and the interest is bothering the industry," he noted.