The co-founder of IT behemoth Infosys, N. R. Narayana Murthy, lamented on Friday that the Manmohan Singh government’s decision-making during the Congress-led UPA era “stalled” economic activity in India.
Young brains can make India a worthy rival of China, the second-largest economy in the world. Mr. Murthy expressed optimism during his engagement with students and young entrepreneurs at the Indian Institute of Management – Ahmedabad (IIMA).
“I once served on the London-based HSBC board (between 2008 and 2012). In the early years, India’s name was only mentioned once in the boardroom (during meetings), whereas China was cited twice. “In answer to a query on where he views India in the global economy, the well-known businessman.
“But regrettably, I’m not sure what happened to India after that. Manmohan Singh, the former prime minister, was a remarkable man, and I have the utmost regard for him. But somehow, India got stuck (during UPA-era). Everything was delayed, and no decisions were made, “Mr. Murthy stated.
When Mr. Murthy departed HSBC (in 2012), he said China was mentioned about 30 times more frequently in meetings than India.
“Therefore, I believe it is your (the younger generation) job to insist that anytime someone mentions the name of another nation, especially China, they also include India. I believe you can accomplish it, “Mr. Murthy stated.
Regarding the West, there is now a certain amount of respect for India. According to the former chairman of Infosys, there is a certain level of care for the country, which has now become the world’s fifth largest economy.
He claims that the country has benefited from the 1991 economic reforms when Manmohan Singh was the finance minister and the current Bharatiya Janata Party-led NDA government’s initiatives like “Make In India” and “Startup India.”
“When I was your age, there wasn’t much responsibility because neither India nor I were held in high expectations. There is a current expectation that you will advance the nation. I believe you can make India a worthy rival to China, “Mr. Murthy stated.
According to a veteran of the software sector, China has rapidly overtaken India in the past 44 years.
“Incredible is how China is. China’s GDP is six times bigger than India’s. Between 1978 and 2022, 44 years, China has significantly overtaken India. Being six times is not funny. If you take action, India will gain the same respect that China enjoys, “Mr. Murthy stated.