Quotes of the day

BANGALORE (Reuters) -- The following are selected quotes from speakers at the Reuters India Investment Summit.

KIRAN MAZUMDAR-SHAW, CHAIRMAN, MANAGING DIRECTOR, BIOCON

"I personally am betting on proprietary drugs. A ship in harbor is safe, but that is not what ships are built for. So you've got to sail out and take that risk."

"We don't need cash. I think Biocon is the wrong company for private equity investors. I am approached everyday but I'm not interested."

On margins being hurt by the rupee: "You can't deny that. I can't wave a magic wand and suddenly expand the margins."

SURESH SENAPATY, CFO, WIPRO

"We're open and flexible to be able to chase the right target. We are not interested in cheap buys."

On diversifying: "Lighting, furniture, workstations are a very good growth opportunity for us."

On the U.S. economic slowdown: "If at all it has an impact, it will only have a minor impact in the shorter term and in the medium and longer term it will bounce back."

S. GOPALAKRISHNAN, CEO, INFOSYS

"War for talent is what's going to decide the fate of companies."

On the rising rupee: "The pace of the appreciation is actually a bigger issue than the appreciation itself."

DEEPAK PATEL, MANAGING DIRECTOR, MPHASIS

On the impact of the firm rupee: "Probably most of the damage is done, that doesn't mean that there won't be more damage."

"Especially with the appreciation of the rupee putting pressure ... you can't assume that this current (situation of) India being the destination of choice for IT is going to remain forever."

(Compiled by Varsha Tickoo; Editing by Bernard Orr)