The extensive use of technology by the Narendra Modi government has increased the transparency and reduced corruption in all levels, said N.R. Narayana Murthy, The founder and Chairman Emeritus of Infosys Technologies Ltd. He was in Kuwait to deliver a speech at an event organized by the Indian Business and Professional Council of Kuwait.
"Technology has the capability to improve transparency and reduce collusion between bribe demanders and the receiver of the benefits. Technology is about fairness and accountability, as well. Technology provides service to all at the same speed and accountability is brought on by the ability to log every process. If you put in a work flow system, you can monitor delays. These values - transparency, fairness and accountability, are also the characteristics of good governance," he said to IndiansinKuwait.com on the sidelines of the event. The current government in India is applying the use of technology in many sectors where various services are available to the public online.
Being known as the greatest entrepreneurs of our time, Narayana Murthy started Infosys in 1981 with Rs 10,000 and stepped down from the board and became Chairman Emeritus on 1 June 2013 when the company was valued at over 40 billion US$.
"Life without Infosys is great as I get enough time to spend for myself", Murthy told IndiansinKuwait.com. Murthy who currently support upcoming entrepreneurs by investing in startups though his private investment firm Catamaran Ventures. "The start-up climate in India is pretty hot now because of the infusion of large amounts of venture capital, very attractive valuations, and the tremendous focus that PM Narendra Modi has brought to Start up India," he said. The government of India has announced several schemes such as no taxation for first three years, not applying rigid rules of labor practices for start-ups. Job creation is possible only through entrepreneurship and industrialization. Never in the history of this country did so many youngsters want to become entrepreneurs as against taking up a conventional job.
The startup is not only about e-commerce and IT services. Health sector had seen several startups with great ideas to bring the health sector more affordable to the common man. "We have supported one youngster who is working using state of the art knowledge to create highly inexpensive diagnostic testing and so reduce the cost of medical tests. We also support another set of youngsters from MIT who have started a soft drink, Paper boat that is suited to the Indian palate. Thirdly, we have supported a Harvard Business School graduate who is working on a new set up of healthcare combining the service of the General Practitioner with personalized hospital care." For the first time in the history of our country, Prime Minister has invited large number of young entrepreneurs for a startup meeting which is good sign of where our country is forwarding, Murthy told IndiansinKuwait.com.
Mr Narayana Murthy also praised the Digital India program by the government where the aim is to connect more than 550000 villages across the country through digital platform. The government is creating high bandwidth access to various parts of the country. Hopefully at the end of it, every village will be connected. Considering the wide area of India, it is not going to happen in a day. But this government is very serious, it has put in a lot of effort and is very enthusiastic, he said. " I’m an outsider, so all I can say is that it has started well and there is a lot of enthusiasm. That is more than what has happened many times in the past."
For a question about his message to the readers of IndiansinKuwait.com, Mr Murthy said that "There is a great opportunity for becoming an entrepreneur." "You need to ask the three fundamental questions to yourself - how can I do it faster, how can I do it cheaper, how can I do it better?". Entrepreneurship is all about deferred gratification, it is about sacrificing today in the hope that tomorrow will bring some fortune, Mr Murthy said.