India @ 60 hots up in NY, Infosys adds final touches

Infosys co-chairman Nandan Nilekani is camping in New York, overseeing final touches to India @ 60, the week-long celebration of India that's coming up in the city.

At venues including The Pierre, the Tata Group-managed luxury hotel and Bryant Park, New Yorkers will be treated to everything Indian, from food and fashion to economic facts.

“Well, you know it's overall part of the India brand building that we have been doing at Confederation of Indian Industries (CII) for the last three years. We began with Davos 2006, which was a big success in terms of projecting India,” said Nilekani.

The message is already out at Times Square, the block that likes to call itself the crossroads of the world. By holding the festival at a time when the United Nations General Assembly will be in session, India hopes to catch the attention of the whole world from the Big Apple.

CII and the Indian government are spending over $10 million on bringing the taste and feel of India to New York. This investment in India @ 60 could pay off for many years to come.

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Narayana Murthy on India, IT and entrepreneurship

Narayana Murthy on India, IT and entrepreneurship August 29, 2007 N R Narayana Murthy, chief mentor and chairman of India's IT major Infosys Technologies, is one of the world's most admired entrepreneurs. Hence when he came to Mumbai to speak on entrpreneurship, one could not help attending the event. Here are a few gems from the IT czar's mind: Never before in the last 1,000 years did India receive so much attention as it has been receiving in the last 10 years. Never before in the last 50 years post independence, urban India has hogged as much limelight as it is doing now. However, in this regard, one must admit that the progress has not been that great in rural India. Indian villages have not gone as far as we had wanted them to be. My wife Sudha spends a lot of time in rural India (Infosys Foundation trustee) and she tells me that television has a tremendous influence in shaping rural Indian minds. It is because of the television that there is a much greater awareness of how things should be. Accountability of government has increased hugely, thanks to some responsible journalists and television anchors. This is the time when we must consolidate our gains and build a solid future. It's a daunting challenge no doubt which the entrepreneurs of this country must brave. Never before in the last 1,000 years did India receive so much attention as it has been receiving in the last 10 years, says N R Narayana Murthy.

'Leadership is about making people say: I can do anything for you' August 29, 2007 I was a staunch Leftist in my college days and also when I was working in France. However, my experiences convinced me that Mahatma Gandhi's theory on entrepreneurship and growth is the best. As Mahatma Gandhi said, 'We must become the change we want to see in the world.' What an entrepreneurship needs is a strong leader who has to prove his or her belief in sacrifice and hard work. This gesture will in turn enthuse other team members to make bigger sacrifices. A leader is an agent of change, and progress is made when that change is effected. Entrepreneurship is all about raising the aspirations of followers and enthusing people with a desire to reach for the stars. To today's entrepreneurs, I have to say: 'follow in the footsteps of Mahatma Gandhi. For, it is he who created a vision for independence in India and raised the aspirations of our people'. Leadership has to be absolute. Leadership is about making people say, 'I can do anything for you.' A leader has to raise the confidence of followers. He should make them understand that tough times are part of life and that they will come out better at the end of it. He has to sustain their hope, and their energy levels to handle the difficult days. The leader has to create an environment where each person feels secure enough to be able to disclose his or her mistakes, and resolves to improve. Leaders have to walk the talk and demonstrate their commitment to a value system. N R Narayana Murthy

Technology has brought us greater freedom - Nandan Nilekani

Do you think technology (in an Indian context) has brought us greater freedom?

Yes, it has helped level the playing field for India in the global arena. In a way, it has transformed India by providing a new vision to the country and liberating its populace. I believe rural India’s need for knowledge empowerment can be addressed using technology. The telecom revolution has really ensured that people in every part of India are able to connect with each other and with the external world. Now, we have leapfrogged to the next stage where mobile phones and the Internet are revolutionising the Indian consumer and corporations.

Also, what technology has done for the Indian corporation is remarkable. Competing in the industry is no longer limited to a privileged few. Technology has brought forward a whole new set of entrepreneurs who are ensuring that India gets her right place in the world. From an employment perspective, it has raised the standard of living of the average middle-class Indian. The IT& ITES industry has enabled the middle-class Indian to go after bigger dreams. It has also indirectly created many more job opportunities.

Do you believe companies today can access and develop technology more easily than before?

Yes, the liberalisation process definitely made technology ubiquitous. The Indian IT-ITES sector (including the domestic and exports segments) is expected to exceed $47.8 billion in annual revenue in FY07, an increase of nearly 28% in the current fiscal.

Additionally, with the growth in Indian economy and favourable policies, leading MNCs are looking to India as an attractive market for their products and technologies, and are targeting the Indian consumer.

We have taken the lead in developing technology cheaper, faster and better. Therefore, it is an area that provides us with lots of opportunities.

Why do you think Indian companies still do not invest significantly in developing or acquiring technology?

I believe we are progressing on this front. Indian companies do not invest significantly because their propensity for risk is not high. Developing technology requires up front capital investments and a nurturing period before you can realise huge profits. The gestation period is longer. However, the growth is non-linear in the sense that once the technology succeeds , your margins are much higher.

Today’s customer is increasingly demanding and therefore the companies need innovative concepts to address the diverse requirements of a large customer base. We have seen
increased access to capital for developing technology in India through venture capitalists. We hope to see more and more Indian companies adopting technology to compete in the flat world.

If you had to pick one technology (say mobile phones or the Internet) then which one, in your mind, has brought Indians more freedom?

Both have an important role to play in empowering the average Indian.

The Internet has opened the world to India and brought in greater awareness and the accompanying benefits of globalisation . Today, India has over 70 million
Internet users, of which nearly 2 million have broadband connections. With Indians buying over a million computers every year and computer education now an essential part of primary and secondary school curricula, young Indians are becoming intimately familiar with the medium and the associated technologies.The growth of the Internet has opened up new businesses like online travel booking and e-banking . The Internet is also actively fuelling the government’s e-governance initiatives such as online filing of tax returns.

The telecom boom we are experiencing in India today is opening up new opportunities for Indians. About 5 million new telephone connections are added in India every month. With over 130 million users, mobile phones are bridging the communication divide between urban and rural India by connecting people across the country.

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