Microsoft, fallen idol

Addressing a conference on internet-based start-ups last week, Chief Economic Advisor Raghuram Rajan spoke eloquently about how India could be the nursery for the next Facebook, Google or Microsoft. Then he had second thoughts and amended the wish list - the last one is not so revered any more, he said, drawing a chuckle from 100-strong audience, largely comprising budding start-up entrepreneurs, investors and information technology professionals.