No role for corporates in politics: Narayana Murthy

Press Trust of India / New Delhi July 13, 2007

Infosys Technologies' chief mentor N R Narayana Murthy today said he was not aware of his name doing the rounds for the post of Vice-President of the country.

"I am not aware of it. I have no idea about it," he said replying to a question by reporters on the sidelines of a function here.

He parried a question on the charges being levelled against the UPA candidate for the Presidential election, saying "I am not the right person to comment on it."

Earlier, speaking at the function, he said corporates should not have a role in politics. "Corporates should make themselves more relevant to their customers," he added.

When asked about rupee appreciation, he said it was a macro economic issue and called upon corporates to become more efficient, productive and reduce costs.

"I am not worried about factors which are out of my control... It is a macro economic issue," he said on the sidelines of the launch of J-Pal, which is a poverty action lab.

"We have to become more efficient, productive and reduce costs," he said.

Earlier, speaking at the launch, he said the country had to go for a massive human resource development programme to eradicate poverty. Successful models should be scaled up and replicated to alleviate poverty.

India had to play a critical role in doing away with poverty. "If India can't do it, the world can't...Organisations like J-Pal bear a tremendous responsibility," Murthy said.

He said economic reforms had created a strong middle class in the last 16 years, but there was an uneven flow of benefits and a clear divide between the urban and rural economy.

Quoting a Goldman Sachs report that India can sustain 8% growth till 2020, Murthy said: "it will be possible only if we cut the red-tape in the country."

He called for more transparency in the public administration system. "The government should support education and healthcare and organisations like J-Pal provide transparent and efficient database on policies," he said.

"Such ventures should scale up faster and should be replicated," Murthy added.