Speaking at the FICCI’s 93rd Annual General Meeting, Singh said: “There can be a serious debate on who owns more military might, but when it comes to soft power, there is no scope of ambiguity. India is far ahead of China when it comes to leading the world with ideas. If you look at the entire East Asia, there is a huge cultural impact of India.”

He referred to the impact and influence of Buddhism being the main religion for nearly 80 per cent of China’s inhabitants before the Xinhai Revolution.

Singh said that the Indian troops have thwarted Chinese advances across the Line of Actual Control. He also asked the business community to help in import substitution to meet the needs of the armed forces through locally manufactured products.