Moneycontrol
Mar 26, 2011 03:48 PM IST | Source: CNBC-TV18

India's tax system doesn't encourage charity much: Gates

It's the last day of Warren Buffett, Bill and Melinda Gates' visit to India. In an interview with CNBC's Becky Quick, the trio spoke about what they made of the India visit, especially their meeting with the wealthiest people of India.

It's the last day of Warren Buffett, Bill and Melinda Gates' visit to India. The Gates' and Buffett held a dinner meeting in New Delhi with 70 business people, including Wipro Chairman Azim Premji and discussed a wide range of issues related to philanthropy.

In an interview with CNBC's Becky Quick, the trio spoke about what they made of the India visit, especially their meeting with the wealthiest people of India.

Below is a verbatim transcript. Also watch the accompanying video.

Q: What did you make of last night's event?


Buffett: It was really an extraordinary event. Much like both in China and in the United States, once people started talking here, they get very personal. They talk about their own activities, they talk about their family, they may talk about their businesses. It is remarkable to me that they would open up the way they do. We spent several hours hearing stories from people and they almost couldn

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