N.R Narayana Murthy
August 10, 2009
N.R Narayana Murthy
N.R. Narayana Murthy an Indian industrialist, software engineer and one of the seven founders of Infosys Technologies, a global consulting and IT services company based in India.
Murthy graduated with a degree in electrical and electronic engineering in National institute of engineering in Mysore in 1967. His first position was at IIM as chief systems programmer where worked in time sharing system and designed implemented the BASIC interpreter. After the he joined in Patni computer system in PUNE. After that he founded the Infosys in with six software professional. He was the founder of CEO of Infosys of nearly twenty years.
In 1981, India per capita income was around 1,000 rupees a year. He combined annual income year of over 100,000 rupees, placed them solidly in upper-upper-middle class ￢ﾀﾓ most likely very comfortably in the top one percentile of income brackets.
Mr. Murthy has been the recipient of numerous awards and honors. Recently, the Indo-French Forum awarded him its newly-instituted Indo-French Forum Medal in recognition of his role in promoting Indo-French ties. He was voted the World Entrepreneur of the Year – 2003 by Ernst and Young. He was one of the two people named as Asia’s Businessmen of the Year for 2003 by Fortune magazine. In 2001, he was named by TIME / CNN as one of the twenty-five, most influential global executives, a group selected for their lasting influence in creating new industries and reshaping markets. He was awarded the Max Schmidheiny Liberty 2001 prize (Switzerland), in recognition of his promotion of individual responsibility and liberty. In 1999, Business Week named him one of the nine entrepreneurs of the year and he was also featured in the Business Week’s ‘The Stars of Asia’ (for three successive years – 1998, 1999 and 2000). In 1998, the Indian Institute of Technology, Kanpur, one of the premier institutes of higher learning in India, conferred on him the Distinguished Alumnus Award, and in 1996-97, he was awarded the JRD Tata Corporate Leadership Award.
When he retired as executive chairman of Infosys this year, Murthy was worth $1.3 billion. But far more significant than his personal returns, his wildly successful company had laid the groundwork for the business process￢ﾀﾔoutsourcing￢ﾀﾔthat defines globalization in action. Infosys showed that, with modern communication networks, it was possible for well-educated, low-cost Indian laborers to take on some of the office grunt work, such as software programming, needed by the West’s corporations. The result: enormous cost savings for companies across Europe and the U.S. and unheard-of employment opportunities in the developing world. Infosys, along with hundreds of imitators in Bangalore, Hyderabad, New Delhi and Bombay, made India a crucible for globalization, helping to lift the impoverished country out of the dark ages. India’s outsourcing sector today generates annual revenues of $36 billion, up from $150 million in 1991.
But Murthy, 60, is now ready for a second career: he wants to ease the inequities exacerbated by the process he helped to start. Globalization has been a boon for many, with millionaires being minted at a record pace around the world. Yet below this elite, the picture changes. Sucking in overseas jobs has not eased India’s poverty as might be expected, not least because only one million Indians￢ﾀﾔin a nation of 1.1 billion￢ﾀﾔare employed by the outsourcing sector. And, for all its progress, India is still not home to a vast new middle class￢ﾀﾔonly 58 million Indians earn more than $4,400 a year.