On Friday, Infosys co-founder Narayana Murthy regretted the delays in decision-making during the later years of the Congress-led UPA government at the Centre, saying economic activity in India was halted despite Manmohan Singh, whom he termed an extraordinary man, in command. Narayana Murthy made these remarks during an interaction with students at the Indian Institute of Management (IIM), Ahmedabad.
“I used to be on the board of HSBC in London (between 2008 and 2012). During the first few years, China’s name was referenced two to three times in the boardroom (during meetings), but India’s name was mentioned only once,” Murthy stated during a session on the book “Startup Compass” with its authors at the IIM.
When comparing the current BJP-led NDA government to the previous Congress-led UPA government, Murthy stated that the Indian economy suffered as a result of decision-making delays.
“Unfortunately, I don’t know what happened afterwards. During Manmohan Singh’s tenure, an extraordinary individual for whom I have tremendous regard, India stagnated. Decisions were not made promptly, and everything was postponed. And by the time I left (HSBC), if China’s name had been cited 30 times, India’s name had been mentioned only once,” Murthy remarked while praising former Prime Minister Manmohan Singh for the 1991 economic reforms.
When asked where he envisioned India in the future, he stated, “It is the job of the young generation to have people mention India’s name anytime they mention any other country’s name, especially China,” and expressed confidence that the young generation will be able to do so, ANI reported.
The IT Czar lauded the Narendra Modi-led NDA government at the center for bringing ‘Make In India’ and ‘Startup India’. “There was a time when most people from other nations looked down on India,” Murthy remarked, “but today there is a certain level of respect for the country, which has now become the world’s fifth largest economy.”
He continued, “China has surpassed India by six times between 1978 and 2022, a period of 44 years. But I believe that if all of the wonderful individuals sitting here this side work together to make things happen, India will receive the same respect as China gets today.”