India came to a halt during UPA rule, decisions not taken on time, says Narayana Murthy

During his interaction with young entrepreneurs and students at the Indian Institute of Management - Ahmedabad (IIMA) on Friday, Murthy expressed confidence that young minds can make India a worthy competitor of China, the world's second largest economy

Press Trust of India September 24, 2022 11:47:12 IST
India came to a halt during UPA rule, decisions not taken on time, says Narayana Murthy

Infosys co-founder Narayana Murthy said India was 'stalled' during the UPA era. File Photo.

Ahmedabad: Co-founder of IT giant Infosys, N R Narayana Murthy, has said that economic activities in India were “stalled” and decisions were not taken by the Manmohan Singh government in time in the Congress-led UPA-era.

During his interaction with young entrepreneurs and students at the Indian Institute of Management – Ahmedabad (IIMA) on Friday, Murthy expressed confidence that young minds can make India a worthy competitor of China, the world’s second largest economy.

“I used to be on the board of HSBC in London (between 2008 and 2012). In the first few years, when China was mentioned two to three times in the boardroom (during meetings), India’s name would be mentioned once,” said the well-known businessman in response to a question on where he sees India in the future.

“But unfortunately, I don’t know what happened (to India) afterwards. (Former PM) Manmohan Singh was an extraordinary individual and I have tremendous respect for him. But, somehow, India stalled (during UPA-era). Decisions were not taken and everything was delayed,” said Murthy.

The IT czar said when he left HSBC (in 2012), India’s name hardly found a mention during meetings, while China’s name was taken nearly 30 times.

“So, I think it is your (young generation’s) responsibility to make people mention India’s name whenever they mention any other country’s name, particularly China. I think you people can do that,” said Murthy.

The former Infosys chairman said there was a time when most people from the West looked down upon India, but today, there is a certain level of respect for the country, which has now become the world’s fifth largest economy.

According to him, the economic reforms of 1991, when Manmohan Singh was the finance minister, and the present Bharatiya Janata Party-led NDA government’s schemes like ‘Make In India’ and ‘Startup India’ have helped the country gain ground.

“When I was of your age, there was not much responsibility because not much was expected from neither me nor India. Today, there is an expectation that you will take the country forward. I think you people can make India a worthy competitor of China,” said Murthy.

The software industry veteran said China has left India behind by a huge margin in just 44 years.

“China is unbelievable. It (Chinese economy) is six times larger than India. In 44 years, between 1978 and 2022, China has left India behind so much. Six times is not a joke. If you make things happen, India will get similar respect to what China is getting today,” Murthy said.

Read all the Latest News, Trending News, Cricket News, Bollywood News,
India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.

Updated Date:

also read

Telangana Minister accuses CRPF personnel of 'beating up' son during I-T searches
India

Telangana Minister accuses CRPF personnel of 'beating up' son during I-T searches

Telangana Labour Minister Ch Malla Reddy on Wednesday accused CRPF personnel, who accompanied the Income Tax department officials during the searches carried out at his residence and educational institutions here, of 'beating up' his son.

Bombay HC extends no coercive action order against Anil Ambani till Dec 19 in tax case
India

Bombay HC extends no coercive action order against Anil Ambani till Dec 19 in tax case

The order was extended by a division bench of Justices S V Gangapurwala and S G Dige after the IT department sought more time to file its affidavit in response to Ambani's petition challenging the notice

I-T officials raid premises linked to Bihar minister's kin
India

I-T officials raid premises linked to Bihar minister's kin

The personnel also visited the minister's home in the state capital to "enquire" about his relative in a case pertaining to alleged tax evasion