The NRI billionaire was speaking at 'New India: Aspiring USD 5 trillion Economy' session of industry body Assocham.
The biggest attraction in India is the tourism with 10,000 years of history with monuments, museums etc, Agarwal said in his address.
"What we have, no body had in the world," he said.
Referring to tourist attractions such as monuments and museums, he said, "These are run by the government. It is the time to think how can we make them independent, how we can make them free".
Today India is a place everyone wants to visit. About seven to eight million tourists are visiting every state of the country, he said.
"We have to think what we can do to attract tourists," he added.