RISHAD PREMJI WITH HIS WIFE ADITI
Friday, August 8, 2008
RISHAD PREMJI (AZIM PREMJI'S SON)
 | Rishad Premji Business manager in banking and financial services vertical - Wipro | |
| | ||
| Year of Birth & Age: | 1975, 31 yrs | |
| Grew up: | In Mumbai | |
| Education: |
| |
| career graph: | As part of his degree he spent a year at London Stock Exchange. He was selected for General Electric’s Financial Management Programme in 1999 and worked for four years. In 2005 he joined Bain & Company’s London office. Wipro Technologies: Rishad will be joining the financial services practice of Wipro Technologies and would report to president Girish Paranjpe. He will join after July, since the annual general meeting takes place that month. After getting the shareholders’ nod, the company will have to take government permission. Rishad will join the 70,000-employee-strong software-led conglomerate, which also makes soaps and bulbs, as a business finance solutions manager. Like dad, like son: Lots has been spoken about Rishad's simplicity and his love to remain low key. Sources say his father always wanted him to learn the hard way. In fact, when Rishad was in London, he had asked his father's permission to stay at the Wipro guesthouse. Azim Premji who reportedly said it was company property turned this down. | |
Personal Information: | Interests: Rishad, like his father, is interested in reading and music. It is said that Rishad reads quite a lot and during his spare time reads quite a lot of books, mostly relating to management. The million-dollar question is whether he will travel economy class like his father. Another aspect of Rishad, which is very similar to his father, is his secular nature. Although a Muslim, a visit to the temple is a must for Rishad too. Succession: Rishad's father owns nearly 84 per cent of the stake in Wipro and IT pundits feel this move by Premji Senior to rope in his son means that there is a succession plan in place. The post of CFO is number two in the Wipro hierarchy and bringing Rishad into the financial services hints of a succession plan, it is believed. Analysts say like his father he eventually will become the chairman of the company. Marriage: The tall and handsome Rishad got married to his childhood sweetheart Aditi at a very low-key ceremony in Mumbai in 2005. Considering his father's penchant for remaining low-key, it is learnt that Rishad too was in favour of a low-key wedding. No gala receptions with no celebrity list, the wedding at the Taj Palace, Mumbai, was a very quiet family affair. Although nothing much is known about Rishad's tall and attractive wife, it is said that she also belongs to the no-nonsense clan. It is said she would fit the bill of an ideal Wipro bahurani as her non-nonsense attitude will be an asset in the business world. Family: Rishad is the son of Azim and Yasmeen. His younger brother Tariq, who is currently with the Azim Premji Foundation, is more of a friend. Rishad is basically a family man and any spare time is exclusively reserved for family. Like most Indian men he is closer to his mother and looks up to his father who he considers as his icon. |
AZIM PREMJI'S FAMILY&PERSONAL LIFE
Premji is married to Yasmeen, the couple have two children, Rishad and Tariq. Rishad is married to Aditi.
Premji is known for his modesty and frugality in spite of his wealth. He drives a toyota corolla and flies economy class, prefers to stay in company guest houses rather than luxury hotels and even served food on paper plates at a lunch honouring his son's wedding.AZIM PREMJI'S EARLY LIFE
Azim H Premji was born to M.H.Hasham Premji. He attended st.Mary'S School I.C.S.E in Mazagaon, Mumbai. Premji was just finishing his undergraduate engineering studies at Stanford University in 1966 when his father passed away. He immediately returned to INDIA where he took over the family's fledgling vegetable oil business, Western Indian Vegetable Products Limited (now called Wipro). Premji started off with a simple vision: to build an organization on a foundation of values. Premji eventually received permission to take correspondence art courses to complete the requirements for his bachelor’s degree in Electrical Engineering.
Wipro premji's 10-point recipe for success
10 points are
You should dare to dream, define what you stand for, never lose your zest and curiosity, always strive for excellence, build self confidence, learn to work in teams, take care of yourself, preserve, have a broader social vision and finally never let success go to your head
--
Wipro chairman Azim H Premji, one of India's most successful entrepreneurs, on Friday prescribed a 10-point recipe for success, based on the very lessons he had learnt during his last 35 years in the organisation.
"You should dare to dream, define what you stand for, never lose your zest and curiosity, always strive for excellence, build self confidence, learn to work in teams, take care of yourself, preserve, have a broader social vision and finally never let success go to your head," Premji said.
The Wipro chairman was delivering the convocation address at the 38 the convocation of the Indian Institute of Technology, Madras.
Following is the entire text of the convocation address made by Premji:
I am privileged to be with you here today and to share this significant moment of your life.
The convocation marks the culmination of all the endless nights you worked through, all the anxieties you have gone through facing one examination after another and all the preparation you have put in, not only to enter this prestigious institution but also to graduate from it successfully. It is no mean achievement.
Only a handful of the most talented people in the world have shared this success with you. Let me just say that I am very proud of each and every one of you.
I am a little wary about giving you advice- because advice is one thing young people all over the world do not like receiving. I cannot fault you for that.
The world does look very different when it is seen with your eyes. You are filled with enthusiasm and are straining at the leash to get on with life.
And the world is very different from what it was when I was at your age. Never before has the role of technology been so pervasive and so central. The Internet has breached all physical borders and connected the world together like no other force has done before.
For the first time, opportunities for creating wealth in India are at par with the best in world. There is no need for you to sacrifice the joy of remaining in your own country any more.
All opportunities are accompanied by their own challenges. I thought I would share with you a few of the lessons I have learnt in my own life, while loading the transformation at Wipro, from a small company three and a half decades back into a global corporation listed on the New York Stock Exchange. I hope you find them useful.
- Lesson # 1: Dare to dream
When I entered Wipro at the age of 21, it was a sudden and unexpected event. I had no warning of what lay ahead of me and I was caught completely unprepared. All I had with me was a dream.
A dream of building a great Organisation. It compensated for my inexperience and I guess, also prevented me from being overwhelmed by the enormity of the task before me.
What I am happy is that we never stopped dreaming. Even when we achieved a position of leadership in every business we operated in India. We now have a dream of becoming one of the top 10 global it service companies.
Many people wonder whether having unrealistic dreams is foolish. My reply to that is dreams by themselves can never be realistic or safe. If they were, they would not be dreams. I do agree that one must have strategies to execute dreams. And, of course, one must slog to transform dreams into reality. But dreams come first.
What saddens me most is to see young, bright people getting completely disillusioned by a few initial setbacks and slowly turning cynical and some of them want to migrate to America in the hope this is the solution.
It requires courage to keep dreaming. And that is when dreams are most needed- not when everything is going right, but when just about everything is going wrong.
- Lesson # 2: Define what you stand for
While success is important, it can become enduring only if it is built on a strong foundation of Values. Define what you stand for as early as possible and do not compromise with it for any reason. Nobody can enjoy the fruits of success if you have to argue with your own conscience.
In Wipro, we defined our Beliefs long before it became a fashion to do so. It not only helped us in becoming more resilient to stand up to crises we faced along the way, but it also helped us in attracting the right kind of people.
Eventually, we realised that our values made eminent business sense. Values help in clarifying what everyone should do or not do in any business situation. It saves enormous time and effort because each issue does not have to be individually debated at length.
But remember that values are meaningful only if you practice them. People may listen to what you say but they will believe what you do. Values are a matter of trust. They must be reflected in each one of your actions. Trust takes a long time to build but can be lost quickly by just one inconsistent act.
- Lesson #3: Never lose your zest and curiosity
All the available knowledge in the world is accelerating at a phenomenal rate. The whole world's codified knowledge base (all documented information in library books and electronic files) doubled every 30 years in the early 20th century.
By the 1970s, the world's knowledge base doubled every seven years. Information researchers predict that by the year 2010, the world's codified knowledge will double every 11 hours.
Remaining on top of what you need to know will become one of the greatest challenges for you.
The natural zest and curiosity for learning is one of the greatest drivers for keeping updated on knowledge. A child's curiosity is insatiable because every new object is a thing of wonder and mystery. The same zest is needed to keep learning new things.
I personally spend at least ten hours every week on reading. If I do not do that, I find myself quickly outdated.
- Lesson # 4: Always strive for excellence
There is a tremendous difference between being good and being excellent in whatever you do. In the world of tomorrow, just being good is not good enough.
One of the greatest advantages of globalisation is that it has brought in completely different standards. Being the best in the country is not enough; one has to be the best in the world. Excellence is a moving target. One has to constantly raise the bar.
In the knowledge-based industries, India has the unique advantage of being a quality leader. just like japan was able to win in the overseas market with its quality leadership in automobile manufacturing, india has been able to do the same in information technology.
At Wipro, we treat quality as the #1 priority. This enabled us not only to become the world's first SEI CMM Level 5 software services company in the world but also a leader in Six Sigma approach to quality in India.
However, even today I am dissatisfied with several things which we are not doing right in the area of customer satisfaction.
Doing something excellently has its own intrinsic joy, which I think is the greatest benefit of Quality.
- Lesson # 5: Build self-confidence
Self-confidence comes from a positive attitude even in adverse situations. Self-confident people assume responsibility for their mistakes and share credit with their team members.
They are able to distinguish between what is in their control and what is not. They do not waste their energies on events that are outside their control and hence they can take setbacks in their stride.
Remember, no one can make you feel inferior without your consent.
- Lesson # 6: Learn to work in teams
The challenges ahead are so complex that no individual will be able to face them alone. While most of our education is focused in individual strength, teaming with others is equally important. You cannot fire a missile from a canoe. Unless you build a strong network of people with complimentary skills, you will be restricted by your own limitations.
Globalisation has brought in people of different origin, different upbringing and different cultures together. Ability to become an integral part of a cross-cultural team will be a must for your success.
- Lesson # 7 Take care of yourself
The stress that a young person faces today while beginning his or her career is the same as the last generation faced at the time of retirement.
I have myself found that my job has become enormously more complex over the last two or three years. Along with mutual alertness, physical fitness will also assume a great importance in your life.
You must develop your own mechanism for dealing with stress. I have found that a daily jog for me, goes a long way in releasing the pressure and building up energy. You will need lots of energy to deal with the challenges.
Unless you take care of yourself there is no way you can take care of others.
- Lesson # 8: Persevere
Finally, no matter what you decide to do in your life, you must persevere. Keep at it and you will succeed, no matter how hopeless it seems at times. In the last three and half decades, we have gone through many difficult times. But we have found that if we remain true to what we believe in, we can surmount every difficulty that comes in the way.
I remember reading this very touching story on perseverance.
An eight-year-old child heard her parents talking about her little brother. All she knew was that he was very sick and they had no money left. They were moving to a smaller house because they could not afford to stay in the present house after paying the doctor's bills. Only a very costly surgery could save him now and there was no one to loan them the money.
When she heard daddy say to her tearful mother with whispered desperation, 'Only a miracle can save him now', the child went to her bedroom and pulled a glass jar from its hiding place in the closet.
She poured all the change out on the floor and counted it carefully.
Clutching the precious jar tightly, she slipped out the back door and made her way six blocks to the local drug Store. She took a quarter from her jar and placed it on the glass counter.
"And what do you want?" asked the pharmacist. "It's for my little brother," the girl answered back. "He's really, really sick and I want to buy a miracle."
"I beg your pardon?" said the pharmacist.
"His name is Andrew and he has something bad growing inside his head and my daddy says only a miracle can save him. So how much does a miracle cost?"
"We don't sell miracles here, child. I'm sorry," the pharmacist said, smiling sadly at the little girl.
"Listen, I have the money to pay for it. If it isn't enough, I can try and get some more. Just tell me how much it costs."
In the shop was a well-dressed customer. He stooped down and asked the little girl, "What kind of a miracle does you brother need?"
"I don't know," she replied with her eyes welling up. "He's really sick and mommy says he needs an operation. But my daddy can't pay for it, so I have brought my savings".
"How much do you have?" asked the man. "One dollar and eleven cents, but I can try and get some more", she answered barely audibly.
"Well, what a coincidence," smiled the man. "A dollar and eleven cents -- the exact price of a miracle for little brothers."
He took her money in one hand and held her hand with the other. He said, "Take me to where you live. I want to see your brother and meet your parents. Let's see if I have the kind of miracle you need."
That well-dressed man was Dr Carlton Armstrong, a surgeon, specialising in neuro-surgery. The operation was completed without charge and it wasn't long before Andrew was home again and doing well.
"That surgery," her mom whispered, "was a real miracle. I wonder how much it would have cost?"
The little girl smiled. She knew exactly how much the miracle cost ... one dollar and eleven cents ... plus the faith of a little child.
Perseverance can make miracles happen.
- Lesson # 9: Have a broader social vision
For decades we have been waiting for some one who will help us in 'priming the pump' of the economy.
The government was the logical choice for doing it, but it was strapped for resources. Other countries were willing to give us loans and aids but there was a limit to this.
In the millennium of the mind, knowledge-based industries like Information Technology are in a unique position to earn wealth from outside. While earning is important, we must have mechanisms by which we use it for the larger good of our society.
Through the Azim Premji Foundation, we have targeted over the next 12 months to enrol over a million children, who are out of school due to economic or social reasons.
I personally believe that the greatest gift one can give to others is the gift of education. We who have been so fortunate to receive this gift know how valuable it is.
- Lesson # 10: Never let success go to your head
No matter what we achieve, it is important to remember that we owe this success to many factors and people outside us. This will not only help us in keeping our sense of modesty and humility intact but also help us to retain our sense of proportion and balance.
The moment we allow success to build a feeling or arrogance, we become vulnerable to making bad judgements.
Let me illustrate this with another story:
A lady in faded dress and her husband, dressed in a threadbare suit, walked in without an appointment into the office of the president of the most prestigious educational institution in America.
The secretary frowned at them and said, "He will be busy all day."
"We will wait," said the couple quietly.
The secretary ignored them for hours hoping they will go away. But they did not. Finally, the secretary decided to disturb the president, hoping they will go way quickly once they meet him.
The president took one look at the faded dresses and glared sternly at them. The lady said, "Our son studied here and he was very happy. A year ago, he was killed in an accident. My husband and I would like to erect a memorial for him on the campus."
The president was not touched. He was shocked. "Madam, we cannot put up a statue for every student of ours who died. This place would look like a cemetery."
"Oh, no," the lady explained quickly, "we don't want to erect a statue. We thought we would give a building to you."
"A building?" exclaimed the president, looking at their worn out clothes. "Do you have any idea how much a building costs? Our buildings cost close to ten million dollars!"
The lady was silent. The president was pleased and thought this would get rid of them.
The lady looked at her husband. "If that is what it costs to start a university, why don't we start our own?" Her husband nodded.
Mr and Mrs Leland Stanford walked away, travelling to Palo Alto, California, where they established the university as a memorial to their son, bearing their name - the Stanford University.
The story goes that this is how Stanford University began.
I wish you every success in your career and your future life.
Azim Premji Profile( wipro founder&chairman)
Born: July 24, 1945
Achievements: Chairman of Wipro Technologies; Richest Indian for the past several years; Honored with Padma Bhushan in 2005.
Azim Premji is Chairman of Wipro Technologies, one of the largest software companies in India. He is an icon among Indian businessmen and his success story is a source of inspiration to a number of budding entrepreneurs.
Born on July 24, 1945, Azim Hashim Premji was studying Electrical Engineering from Stanford University, USA when due to the sudden demise of his father, he was called upon to handle the family business. Azim Premji took over the reins of family business in 1966 at the age of 21.
At the first annual general meeting of the company attended by Azeem Premji, a shareholder doubted Premji's ability to handle business at such a young age and publicly advised him to sell his shareholding and give it to a more mature management. This spurred Azim Premji and made him all the more determined to make Wipro a success story. And the rest is history.
When Azim Premji occupied the hot seat, Wipro dealt in hydrogenated cooking fats and later diversified to bakery fats, ethnic ingredient based toiletries, hair care soaps, baby toiletries, lighting products and hydraulic cylinders. Thereafter Premji made a focused shift from soaps to software.
Under Azim Premji's leadership Wipro has metamorphosed from a Rs.70 million company in hydrogenated cooking fats to a pioneer in providing integrated business, technology and process solutions on a global delivery platform. Today, Wipro Technologies is the largest independent R&D service provider in the world.
Azim Premji has several achievements to his credit. In 2000, Asiaweek magazine, voted Premji among the 20 most powerful men in the world. Azim Premji was among the 50 richest people in the world from 2001 to 2003 listed by Forbes. In April 2004, Times Magazine, rated him among the 100 most influential people in the world by Time magazine. He is also the richest Indian for the past several years. In 2005,Government of India honored Azim Premji with Padma Bhushan.
AZIM HASHAM PREMJI Founder of Wipro Limited
Azim Hasham Premji, founder of Wipro Limited, India's biggest and most competitive IT company based in Bangalore, was born on July 24th 1945 in 
Bombay. Premji was forced to leave his studies in computer science from Stanford University, California, USA at the age of 21 to take over the family business of vegetable oils when his father M.H. Premji, suddenly passed away in 1966. He has since after a gap of over thirty years completed his degree in Electrical Engineering.
The Amalner-based vanaspathi manufacturing company, the Western India Vegetable Product later became Wipro Products Ltd, Wipro Technologies and Wipro Corporation. Under Premji's leadership Wipro embarked on an ambitious phase of expansion and diversification. The Company began manufacturing light bulbs with General Electric and other consumer products including soaps, baby care products, shampoos, powder etc. In 1975, Wipro Fluid Power business unit manufacturing hydraulic cylinders and truck tippers was started. But Premji's ambitions did not stop there. In the 1980s Wipro entered the IT field, taking advantage of the expulsion of IBM from the Indian market in 1975. Thus, Wipro became involved in manufacturing computer hardware, software development and related items, under a special license from Sentinel. As a result, the $1.5 million company in hydrogenated cooking fats grew within a few years to a $662 million diversified, integrated corporation in services, medical systems, technology products and consumer items with offices worldwide.
The company's IT division became the world’s first to win SEI CMM level 5 and PCMM Level 5 (People Capability Maturity Model) certification, the latest in quality standards. A large percentage of the company's revenues are generated by the IT division. Wipro works with leading global companies, such as Alcatel, Nokia, Cisco and Nortel and has a joint venture in Medical Systems with General Electric company.
Premji's story of success and prominence clearly shows how determination and perseverance, when coupled with knowledge, clear vision and proper planning, enable one to reach the peak of success and leadership. A straight forward person, he doesn't believe in resorting to bribery or corruption to get things done and associates quality with integrity. He is an absolute workaholic and according to him work is the only way to success and survival in a competitive environment. A tough employer, he expects his employees to be competent and will not tolerate lies or deception from anyone.
Azim Hasham Premji finds himself in the Forbes Billionaire List 2000, placed in 41st position with a wealth of $ 6.4 billion. Over the years, Azim Premji has been privileged with many honors and accolades. He was chosen as the Business India's 'Businessman of the Year 2000', He was named by Fortune (August 2003) as one of the 25 most powerful business leaders outside the US, Forbes (March 2003) listed him as one of ten people globally, Business Week featured (October 2003) him on their cover with the sobriquet 'India's tech king'. The Indian Institute of Technology, Roorkee and the Manipal Academy of Higher Education have both conferred honorary doctorates on him. He is also a member of the Prime Minister's Advisory Committee for Information Technology in India.
In the year 2001, Premji established Azim Premji Foundation, a not-for-profit organization with a vision of influencing the lives of millions of children in India by facilitating the universalisation of elementary education. The foundation works closely with the state governments of Karnataka, Andhra Pradesh, Madhya Pradesh etc and the programs cover over 5000 rural schools. Premji contributes the financial resources for the foundation.
Personally, Premji is known for his humility and helping mentality. Easily one of the richest men in the world, he always travels in economy class. One of his favorite recreational activity is hiking. He leads a quiet life with his wife Yasmin Premji who had worked for 'Inside Outside' (editorial) in Mumbai and his two sons in a simple, but elegant villa in Bangalore. The elder son, Rishad, works in the USA for GE and the younger one, Tariq, has co-founded a dotcom and works from Bangalore. Mr. Premji who holds 78% stakes in the company does not believe in naming one of his sons as his successor just for the norms.
Contact address
Wipro Limited
Wipro Campus,
Doddakannelli, Sarjapur Road,
Bangalore-560 035
Phone : 080 - 8440001;Fax: 080- 8440056
E-mail : info@wipro.com
Naidu offers more land for Infosys Hyderabad centre
Mr N.R. Narayana Murthy, Chairman and Chief Mentor of Infosys, with the Andhra Pradesh Chief Minister, Mr N. Chandrababu Naidu, going through the new facility of Infosys in Hyderabad on Tuesday.
HYDERABAD, Jan. 14
INFOSYS Technologies Ltd, the country's leading end-to-end technology solutions provider, has outlined its Hyderabad expansion plans which involves an investment outlay of Rs 100 crore and additional manpower of about 1,300 in Phase II and III within the next 3 years.
Inaugurating the Hyderabad global development centre, which has been created with an investment outlay of Rs 74 crore in a record nine months time, the Chairman and Chief Mentor of Infosys Technologies, Mr N.R. Narayana Murthy, said that the centre, which has the capacity to host 1500-plus people, had a little over 800 now and depending on the business requirements, will be upscaled.
Impressed with the modern facility, the Andhra Pradesh Chief Minister, Mr N.Chandrababu Naidu, after having a first hand experience at the gym quipped that the `company employees come to such a facility not just to work but to improve their health'.
In a typical hard selling approach, he offered another 20 acres to Infosys to make Hyderabad their biggest development centre in the country.
He also urged the Chairman to develop a centre at Visakhapatnam, and offered land and necessary support.
The Hyderabad global delivery centre, which started in a small way with 8 people in March 2000, had 111 people as on March 2001. By the end of March 2002, it had 414 people on its rolls and has grown to a little over 800 by January 14, 2003.
In the first year, the centre accounted for revenues of Rs 25.72 crore, second year (Rs 125.63 crore) and during the last eight months it recorded Rs 164.95 crore.
The revenues from Hyderabad centre, which is an independent profit-driven centre, crossed the Rs 200-crore mark, registering Rs 202.92 crore, according to the Director and Chief Financial Officer, Mr T.V. Mohandas Pai.
Addressing a press conference before the formal inauguration of the facility, Mr Chandrasekhar Kakal, Head of Hyderabad Development Centre, said that the company had entered into a memorandum of understanding with the State Government during the Partnership Summit in 2001.
"Based on its commitment, we have so far invested Rs.73.66 crore and created a 1200 people facility," he said.
The centre has garnered a very impressive client list covering a whole gamut of business applications from semiconductors to ERP solutions. These included Toshiba, Sony, Siemens, Dell Computers and Microsoft, Mr Kakal explained. Developed on a 30-acre site, it has a 3.11-lakh sq ft of built up space, complimented by a 70,000 sq ft of food court.
The distinguishing factor of the whole development centre is a unique parabolic dome having a 46-metre diameter, with a seating capacity of about 800 people.
The innovatively designed software development techno campus, has a range of recreational facilities, a 5,000 sq ft gym, a aerobics centre, and a 12-hole golf putting and driving range.
The centre is designed by architects — Sundaram & Associates and the interiors have been custom-designed by architect, Hafeez Contractor.
The entire dome-shaped multi-purpose building is perceived as an engineering marvel, the air-conditioning is uniquely designed and the audio systems have been custom-made by Bose, he said.
Infosys - History
Murthy was working for Patni Computer Services(PCS) initially.
Infosys was started in 1981, as a Private Limited Company, under the name of Infosys Consultants Pvt. Ltd. A team of seven experienced software professionals, led by Mr.N. R. Narayana Murthy promoted the company. They brought into the company their wide experience, having handled projects in developed countries like USA, Europe and Canada. There are anecdotal experiences told by Sudha moorthy about cooking and serving food for all the partners of Infosys when the company was taking wings in the initial stages.MICO was their first client.The company’s operations were carried out from a development centre in Bangalore..
N.R.NARAYANA MURTHY WITH BILL GATES
 |  |
| Bill Gates and N.R. Narayana Murthy at Infosys in Bangalore, India. |
AN ARTICLE ON N.R.NARAYANA MURTHY
SIMPLE,SELFLESS,SUPERRICHN.R.Narayana Murthy, Chairman, Infosys Technologies Ltd
An Indian IT chief who's really made it big without dropping his ethical precepts by the wayside is Nagawara Ramarao Narayana Murthy, Chairman of Infosys. Born in 1946, Murthy's father was a schoolteacher in Kolar district, Karnataka, India. A bright student, Murthy went on to acquire a degree in Electrical Engineering from Mysore University and later studied Computer Science at the IIT, Kanpur, India.
The Infosys legend began in 1981 when Narayana Murthy dreamt of forming his own company, along with six friends. There was a minor hitch, though-he didn't have any seed money. Luckily, like many Indian women who save secretly without their husband's knowledge, his wife Sudha-then an engineer with Tatas-had saved Rs 10,000. This was Murthy's first big break.
The decade until 1991 was a tough period when the couple lived in a one-room house. The second break came in 1991 when Indian doors to liberalization were flung open… Murthy grabbed the opportunity with both hands and has never looked back ever since. Today, Infosys is the first Indian company to be listed on the US NASDAQ.
While working in France in the 1970s, Murthy was strongly influenced by socialism. The bubble was pricked, however, when he was arrested in Bulgaria on espionage charges. Today, he says: "I'm a capitalist in mind, a socialist at heart." It was this belief in the distribution of wealth that made Infosys one of the first Indian companies to offer employees stock-option plans. Infosys now has 400 employees who are dollar millionaires.
In a poll conducted by Asiaweek, the quiet, soft-spoken man was selected one of the 50 most powerful people in Asia for 2000. And 50 per cent of the respondents in an online poll conducted by The Economic Times voted him the best CEO of India.
Heading a company with the largest market capitalization hasn't changed Murthy's life-style much. The man still doesn't know how to drive a car! On Saturdays-his driver's weekly off-the Infosys chief is driven to the bus stop by his wife, from where he boards a company bus to work! Incidentally, Sudha Murthy is now chief of the Infosys Foundation, which channels Rs 50 million into charity every year.
Simplicity, humility and maintaining a low profile are the hallmarks of this super-rich Bangalorean. And the man is principled to a fault. Murthy's unprecedented wealth has catapulted him into the public glare. After the kidnapping of Dr Rajkumar by forest brigand Veerappan, the Home Ministry has sounded out the local government about providing Z-category security to Murthy and Premji. Both characteristically turned down the offer.
In a letter to the police top brass last month, Murthy said he was a simple man who had no intentions of annoying his neighbors and disturbing traffic with an intrusive entourage of security vehicles and personnel.
That's Narayana Murthy for you.
NARAYANA MURTHY ON LEADERSHIP
At the Gartner Summit India last fortnight, Infosys Chairman and Chief Mentor N R Narayana Murthy discussed the role Information Technology plays in creating a developed India with Gartner Asia-Pacific Vice-President Bob Hayward, Research Vice-President (India) Partha Iyengar and Vice-President and Chief of Research (Asia-Pacific) John Roberts.
We have great honour in reproducing the transcript of that discussion for our readers, the first part of which we published on Thursday.
Partha Iyengar: What can India Inc do to embrace IT, something that hasn't happened as much as in countries like China?
N R Narayana Murthy: I think it is happening in the last ten years. Indian enterprises and even the government are embracing IT much more warmly than ever before. The reason is competition is increasing. There is a focus on productivity. Secondly, the democracy is demanding more transparency and accountability from the government.
Bob Hayward: But the difference here is that there has to be a different justification for IT-induced automation that reduces jobs in a country with a large population like India.
N R Nayarana Murthy: I am of the opinion that every enterprise must operate at the highest level of productivity, which means that fewer and fewer people can produce more and more wealth. With better productivity, the salaries will increase, the workers have more disposable income, and they spend more in the market. In the end, by enhancing productivity, you are actually creating more jobs. It's a myth here that employing more people and resourcing productivity per worker, we are making the economy better for our citizens. The right way would be to improve productivity.
Bob Hayward: Is the contribution of IT in improving the living standard of a large chunk of its people being recognized as it should be?
N R Narayana Murthy: In the last couple of years, India has done a very good job in IT. But we are still a nation of billion people so a million or so people working in IT or related areas don't get as much noticed. That's where we need to create better enthusiasm by creating visible signs of growth like world class airports and highways. We owe it to our children because we want to be much confident about their country.
Bob Hayward: In your interaction with politicians, what do you see are the major challenges in making them aware about the potential of this sector in India?
N R Narayana Murthy: Leadership is all about courage, courage to dream big, to take tough decisions, etc. Second, it is the ability to raise the aspirations of people and third, to be open minded and to accept great ideas from different countries and cultures across the world and fourth, like I earlier said, to recognize that there are two Indias, rural and urban and to work towards the growth of both of them.
Partha Iyengar: What needs to be done to bring about that change?
N R Narayana Murthy: Once again that takes me to what I mentioned, the visible signs of growth. Let me give you an example: When Baby Noor, the Pakistani child came to India, and I saw that news splashed across the newspapers, I was very happy. I think we need a few more examples like that. Not only will this change our leaders' mindset but it will create confidence in Pakistan.
The point is, we need more such signs of growth, like that Nasscom experiment or the fishermen in the Pondicherry using data from US satellites to enhance their catch. In every movie theater, if we can show a few of these examples, the common Indian will have confidence in India and will say that well, India is on the move now.
Bob Hayward: I may be a little pessimistic, but there's a negativism and cynicism existing in the Indian media that if this industry is growing, there must be some problem with that…
N R Narayana Murthy: You are using data so I can't argue with you. But let me tell you I was in Delhi and Prannoy Roy, my friend, took me to his studio. I saw these enthusiastic guys and I was highly impressed. If we use that enthusiasm, we can beat anybody in the world.
When a lot of my friends went to IBM, people said it's the end, but I said if I can't find MNCs in India, how can we fight them in their own backyard?
Secondly, there is a lot of value that these MNCs bring into India. With their HR policies etc. We have to play the game their way. I am very hopeful.
John Roberts: With the offshore backlash, what do you think should be the strategy of the industry to address that right now?
N R Narayana Murthy: Globalization is about producing where it is most cost effective, sourcing capital from where it's cheapest and selling it where it is most profitable. We shouldn't be constrained by an international backlash.
A smart journalist in Australia asked me a question at a press conference, "You guys are taking all our jobs to India. You should be thrown out." I told him I use an LG refrigerator at home in India, I drink Pepsi and Coke though we had our own Indian drinks, I use a GM car where we had a vibrant automobile industry, and so forth. I use Cisco routers and a Toshiba tablet PC which are imported, so do you think we should throw all these companies out?
I gave him the positive side of all this.
Prior to 1991, we all felt exactly the same like that young journalist did. Initially, it was a very painful phase for our Indian companies but at the end of it we became stronger. At the end of the day the consumers benefit the most, and even the minority that will suffer in the short run, will benefit at the end of the day.
John Roberts: Where do you see IT in the next 5 years?
N R Narayana Murthy: I think IT will move, IT will focus more on enhancing productivity at home. So far we've limited ourselves to enhancing productivity at the workplace. Thanks to increasing computing power I believe IT will move to ubiquitous computing.
John Roberts: Do you think India will move from using existing technology to inventing new technologies?
N R Narayana Murthy: It will happen. Let us remember that the concept of a free market is still new in India, we are not used to leading from the front. Just 15 years compared to 200 years elsewhere in terms of the Industrial Revolution. You need to have a little more patience with India, but that will happen.
Partha Iyengar: There are indications that IT will be a major driver taking India into the league of developed nations by 2020. What's your vision of what India will be like in that timeframe?
N R Narayana Murthy: I have great respect for our President Dr Abdul Kalam and his vision of making India a developed nation by 2020 is a great one. My view is IT alone will not be able to do that. We need world class manufacturing, we need world class financial services, healthcare, education, etc. Only then can we make progress and become a great nation. IT alone cannot do that; it will definitely be a driver, a case study of India's potential.
Whenever I am down, I recall what the late Robert Kennedy once said, which he borrowed from George Bernard Shaw, 'Most people see things as they are and wonder why. I see things that never were and say why not.' Once our leaders start with this mindset, the solution is very simple. We have to see beyond the constraint, using it as an opportunity. It's all in the mind.
NARAYANA MURTHY SUCCESS STORY
N.R. Narayana Murthy, the founder and Chairman of India's spectacular technology success story, Infosys Technologies, visited New York recently and met with a team of Business Week editors, including International Managing Editor Bob Dowling, Assistant International Managing Editor Christopher Power, and Asia Editor Sheri Prasso. Here are edited excerpts of their conversation:
Q: We hear you've become quite a philanthropist, that you're making large donations with money from sales of your personal Infosys stock. Can you tell us about the money you're giving away?
A: I'm somewhat reticent talking about it. I'd be happier skipping to another topic.
Q: Can you give us an idea of how much it is? Millions? Tens of millions?
A: Well, more, but let me not talk about it. These are topics that are best not discussed. They're best done.
Q: At least, what is the objective of the donations you're making?
A: The objective is to make sure our institutions of higher learning regain their glory of the '60s and '70s. In India, the cost of inflation has far exceeded the increased support that government gives to the institutions. We [my wife and I] feel there is quite a lot of work that needs to be done in making sure that there are new buildings, and for faculty members, for scholarships.
Q: Do you want to discuss where you see Infosys going in the next five years?
A: I would be very happy if the company becomes globally respected. It's very highly respected in India today. In January, when there was a survey among 1,600-plus general managers of all industries asking them to vote their most admired company, they voted for Infosys among 7,500 listed companies, plus an equal or higher number of unlisted companies.
I think in India we have been fairly successful in gaining respect and our reputation. But the real challenge is to get respect and reputation in a market like this [the U.S.] with a lot of smart companies, a lot of role models, a lot of high performers.
Secondly, we obviously want to provide best services to our customers, so we have to enhance our knowledge and make sure we provide core solutions.
Thirdly, in our mission statement is employing best practices, to attract good talent...[and] to make the company more multicultural. Obviously, our objective is to create an environment where people of different nationalities come together and work in an environment of intense competition but mutual respect, to add greater and greater value to our customers.
Q: What are you doing to achieve this?
A: I believe in synergizing the organizational objectives and individual aspirations. The organizational objectives are in some senses nonnegotiable. The company has to grow. Having done that, how do we make sure individuals are enthusiastic about that? Some people may want better compensation. Some people may want more recognition. Some people may want more free time to learn new things, etcetera. We try to see how the organizational objectives are maintained while the individual aspirations are being met. Most of it has happened in India. Now our challenge is to bring it outside of India.
Q: This is a pretty competitive job culture here, and you have to meet the demands of the market. How do you do that?
A: We have an options plan. In fact, when we went public, one of the major reasons was to create an option plan. The stock doing well has been a double-edged sword. People who have been given options are very happy, but what about new options that you want to give people? At what seems high levels, how do you make sure people have capital appreciation? We were the first ones to [introduce share options in India] in a formal way on a reasonable scale. Many, many companies are following now. We got the Exchange Board of India to come out with a new legal framework, modeled on the U.S., last year.... My view is that God is still not finished with Infosys, and we are in the initial stages.
Q: How likely is it that the IT revolution in India can really have an impact economically?
A: I'm a heretic in many, many ways. For example, I'm the only corporate leader in India, who says companies who make export profits must pay taxes. I've become absolutely unpopular. So even here, I say technology has as much relevance to the poor as it has to the rich.
I'll tell you why I say that: A couple of months ago, I was coming out of my office and one of the attendants, one of the people who bring coffee and tea and clean tables, he was coming out, and he was smiling. He was very happy. I said, "What, man, why are you so happy? What has happened?"
He said, "I got this urgent call from my village, I have to go back and go to see my father, somebody is not well."
I said, "This couldn't make you happy."
He said, "No, I could get money. I went to the ATM and got money."
I said, "That's no big deal."
He explained, "When I go to a bank counter, first of all I am not dressed suitably, and the counter clerk does not show as much interest in serving me. Second, if I go to the counter at 3:55 because they close at 4:00, they don't serve me because they want to close up and go. "On the other hand, this machine is a great leveler. I stand in the queue. It doesn't matter whether it's me or the Chairman. We all stand in the queue. We put in our cards. We get the money."
In some senses, technology is a great leveler. Secondly, if technology is to reduce costs, if technology is to improve productivity, who needs these things more than the poor? So I've been having a big battle with my government, saying we need technology much more than anybody else.
The poor need technology! In Bombay, 50% of the taxi drivers are from the villages. They come to the city, they are away from their families, they get to go back once in six months. So we said, "Let's conduct an experiment: Take a taxi driver in Bombay, and use Internet technology to keep them in touch." I personally believe technology has tremendous impact on the Indian economy.
Q: Is the government becoming more cooperative?
A: I think the history of 200 years can't be wiped out in a hurry. I find that the mindset of bureaucracy in India is changing, but is still one of maximization of revenue for the government and is against any scheme that, in the short term, will reduce revenue for the government. So I think that's a big issue in India.
LIFE LESSSON FROM NARAYANA MUTHY
 N R Narayana Murthy, chief mentor, Infosys Technologies Ltd. |
N R Narayana Murthy, chief mentor and chairman of the board, Infosys Technologies, delivered a pre-commencement lecture at the New York University (Stern School of Business) on May 9. It is a scintillating speech, Murthy speaks about the lessons he learnt from his life and career. We present it for our readers:
Dean Cooley, faculty, staff, distinguished guests, and, most importantly, the graduating class of 2007, it is a great privilege to speak at your commencement ceremonies.
I thank Dean Cooley and Prof Marti Subrahmanyam for their kind invitation. I am exhilarated to be part of such a joyous occasion. Congratulations to you, the class of 2007, on completing an important milestone in your life journey.
After some thought, I have decided to share with you some of my life lessons. I learned these lessons in the context of my early career struggles, a life lived under the influence of sometimes unplanned events which were the crucibles that tempered my character and reshaped my future.
I would like first to share some of these key life events with you, in the hope that these may help you understand my struggles and how chance events and unplanned encounters with influential persons shaped my life and career.
Later, I will share the deeper life lessons that I have learned. My sincere hope is that this sharing will help you see your own trials and tribulations for the hidden blessings they can be.
The first event occurred when I was a graduate student in Control Theory at IIT, Kanpur, in India. At breakfast on a bright Sunday morning in 1968, I had a chance encounter with a famous computer scientist on sabbatical from a well-known US university.
He was discussing exciting new developments in the field of computer science with a large group of students and how such developments would alter our future. He was articulate, passionate and quite convincing. I was hooked. I went straight from breakfast to the library, read four or five papers he had suggested, and left the library determined to study computer science.
Friends, when I look back today at that pivotal meeting, I marvel at how one role model can alter for the better the future of a young student. This experience taught me that valuable advice can sometimes come from an unexpected source, and chance events can sometimes open new doors.
The next event that left an indelible mark on me occurred in 1974. The location: Nis, a border town between former Yugoslavia, now Serbia, and Bulgaria. I was hitchhiking from Paris back to Mysore, India, my home town.
By the time a kind driver dropped me at Nis railway station at 9 p.m. on a Saturday night, the restaurant was closed. So was the bank the next morning, and I could not eat because I had no local money. I slept on the railway platform until 8.30 pm in the night when the Sofia Express pulled in.
The only passengers in my compartment were a girl and a boy. I struck a conversation in French with the young girl. She talked about the travails of living in an iron curtain country, until we were roughly interrupted by some policemen who, I later gathered, were summoned by the young man who thought we were criticising the communist government of Bulgaria.
The girl was led away; my backpack and sleeping bag were confiscated. I was dragged along the platform into a small 8x8 foot room with a cold stone floor and a hole in one corner by way of toilet facilities. I was held in that bitterly cold room without food or water for over 72 hours.
I had lost all hope of ever seeing the outside world again, when the door opened. I was again dragged out unceremoniously, locked up in the guard's compartment on a departing freight train and told that I would be released 20 hours later upon reaching Istanbul. The guard's final words still ring in my ears -- "You are from a friendly country called India and that is why we are letting you go!"
The journey to Istanbul was lonely, and I was starving. This long, lonely, cold journey forced me to deeply rethink my convictions about Communism. Early on a dark Thursday morning, after being hungry for 108 hours, I was purged of any last vestiges of affinity for the Left.
I concluded that entrepreneurship, resulting in large-scale job creation, was the only viable mechanism for eradicating poverty in societies.
Deep in my heart, I always thank the Bulgarian guards for transforming me from a confused Leftist into a determined, compassionate capitalist! Inevitably, this sequence of events led to the eventual founding of INFOSYS in 1981.
While these first two events were rather fortuitous, the next two, both concerning the Infosys journey, were more planned and profoundly influenced my career trajectory.
On a chilly Saturday morning in winter 1990, five of the seven founders of Infosys met in our small office in a leafy Bangalore suburb. The decision at hand was the possible sale of Infosys for the enticing sum of $1 million. After nine years of toil in the then business-unfriendly India, we were quite happy at the prospect of seeing at least some money.
I let my younger colleagues talk about their future plans. Discussions about the travails of our journey thus far and our future challenges went on for about four hours. I had not yet spoken a word.
Finally, it was my turn. I spoke about our journey from a small Mumbai apartment in 1981 that had been beset with many challenges, but also of how I believed we were at the darkest hour before the dawn. I then took an audacious step. If they were all bent upon selling the company, I said, I would buy out all my colleagues, though I did not have a cent in my pocket.
There was a stunned silence in the room. My colleagues wondered aloud about my foolhardiness. But I remained silent. However, after an hour of my arguments, my colleagues changed their minds to my way of thinking. I urged them that if we wanted to create a great company, we should be optimistic and confident. They have more than lived up to their promise of that day.
In the seventeen years since that day, Infosys has grown to revenues in excess of $3.0 billion, a net income of more than $800 million and a market capitalisation of more than $28 billion, 28,000 times richer than the offer of $1 million on that day.
In the process, Infosys has created more than 70,000 well-paying jobs, 2,000-plus dollar-millionaires and 20,000-plus rupee millionaires.
A final story: On a hot summer morning in 1995, a Fortune-10 corporation had sequestered all their Indian software vendors, including Infosys, in different rooms at the Taj Residency hotel in Bangalore so that the vendors could not communicate with one another. This customer's propensity for tough negotiations was well-known. Our team was very nervous.
First of all, with revenues of only around $5 million, we were minnows compared to the customer.
Second, this customer contributed fully 25% of our revenues. The loss of this business would potentially devastate our recently-listed company.
Third, the customer's negotiation style was very aggressive. The customer team would go from room to room, get the best terms out of each vendor and then pit one vendor against the other. This went on for several rounds. Our various arguments why a fair price -- one that allowed us to invest in good people, R&D, infrastructure, technology and training -- was actually in their interest failed to cut any ice with the customer.
By 5 p.m. on the last day, we had to make a decision right on the spot whether to accept the customer's terms or to walk out.
All eyes were on me as I mulled over the decision. I closed my eyes, and reflected upon our journey until then. Through many a tough call, we had always thought about the long-term interests of Infosys. I communicated clearly to the customer team that we could not accept their terms, since it could well lead us to letting them down later. But I promised a smooth, professional transition to a vendor of customer's choice.
This was a turning point for Infosys.
Subsequently, we created a Risk Mitigation Council which ensured that we would never again depend too much on any one client, technology, country, application area or key employee. The crisis was a blessing in disguise. Today, Infosys has a sound de-risking strategy that has stabilised its revenues and profits.
I want to share with you, next, the life lessons these events have taught me.
1. I will begin with the importance of learning from experience. It is less important, I believe, where you start. It is more important how and what you learn. If the quality of the learning is high, the development gradient is steep, and, given time, you can find yourself in a previously unattainable place. I believe the Infosys story is living proof of this.
Learning from experience, however, can be complicated. It can be much more difficult to learn from success than from failure. If we fail, we think carefully about the precise cause. Success can indiscriminately reinforce all our prior actions.
2. A second theme concerns the power of chance events. As I think across a wide variety of settings in my life, I am struck by the incredible role played by the interplay of chance events with intentional choices. While the turning points themselves are indeed often fortuitous, how we respond to them is anything but so. It is this very quality of how we respond systematically to chance events that is crucial.
3. Of course, the mindset one works with is also quite critical. As recent work by the psychologist, Carol Dweck, has shown, it matters greatly whether one believes in ability as inherent or that it can be developed. Put simply, the former view, a fixed mindset, creates a tendency to avoid challenges, to ignore useful negative feedback and leads such people to plateau early and not achieve their full potential.
The latter view, a growth mindset, leads to a tendency to embrace challenges, to learn from criticism and such people reach ever higher levels of achievement (Krakovsky, 2007: page 48).
4. The fourth theme is a cornerstone of the Indian spiritual tradition: self-knowledge. Indeed, the highest form of knowledge, it is said, is self-knowledge. I believe this greater awareness and knowledge of oneself is what ultimately helps develop a more grounded belief in oneself, courage, determination, and, above all, humility, all qualities which enable one to wear one's success with dignity and grace.
Based on my life experiences, I can assert that it is this belief in learning from experience, a growth mindset, the power of chance events, and self-reflection that have helped me grow to the present.
Back in the 1960s, the odds of my being in front of you today would have been zero. Yet here I stand before you! With every successive step, the odds kept changing in my favour, and it is these life lessons that made all the difference.
My young friends, I would like to end with some words of advice. Do you believe that your future is pre-ordained, and is already set? Or, do you believe that your future is yet to be written and that it will depend upon the sometimes fortuitous events?
Do you believe that these events can provide turning points to which you will respond with your energy and enthusiasm? Do you believe that you will learn from these events and that you will reflect on your setbacks? Do you believe that you will examine your successes with even greater care?
I hope you believe that the future will be shaped by several turning points with great learning opportunities. In fact, this is the path I have walked to much advantage.
A final word: When, one day, you have made your mark on the world, remember that, in the ultimate analysis, we are all mere temporary custodians of the wealth we generate, whether it be financial, intellectual, or emotional. The best use of all your wealth is to share it with those less fortunate.
I believe that we have all at some time eaten the fruit from trees that we did not plant. In the fullness of time, when it is our turn to give, it behooves us in turn to plant gardens that we may never eat the fruit of, which will largely benefit generations to come. I believe this is our sacred responsibility, one that I hope you will shoulder in time.
Thank you for your patience. Go forth and embrace your future with open arms, and pursue enthusiastically your own life journey of discovery
LOVE STORY OF INFOSYS NARAYANA MURTHY
- The Love Story
It was in Pune that I met Narayan Murty through my friend Prasanna who is now the Wipro chief, who was also training in Telco (TataMotors). Most of the books that Prasanna lent me had Murty's name on them which meant that I had a preconceived image of the man. Contrary to expectation, Murty was shy, bespectacled and an introvert. When he invited us for dinner, I was a bit taken aback as I thought the young man was making a very fast move. I refused since I was the only girl in the group. But Murty was relentless and we all decided to meet for dinner the next day at 7.30p.m. atGreen Fields hotel on the Main Road, Pune.
The next day I went there at 7 o’ clock since I had to go to the tailor near the hotel. And what do I see? Mr. Murty waiting in front of the hotel and it was only seven. Till today, Murty maintains that I had mentioned (consciously! ) that I would be going to the tailor at 7 so that I could meet him...And I maintain that I did not say any such thing consciously or unconsciously because I did not think of Murty as anything other than a
friend at that stage. We have agreed to disagree on this matter.
Soon, we became friends. Our conversations were filled with Murty's experiences abroad and the books that he has read. My friends insisted that Murty as trying to impress me because he was interested in me. I kept denying it till one fine day, after dinner Murty said, I want to tell you something. I knew this as it. It was coming. He said, I am 5'4" tall. I come from a lower middle class family. I can never become rich in my life and I can never give you any riches. You are beautiful, bright, and intelligent and you can get anyone you want. But will you marry me? I asked Murty to give me some time for an answer. My father didn't want me to marry a wannabe politician, (a communist at that) who didn't have a steady job and wanted to build an orphanage...
When I went to Hubli I told my parents about Murty and his proposal. My mother was positive since Murty was also from Karnataka, seemed intelligent and comes from a good family. But my father asked: What's his job, his salary, his qualifications etc? Murty was working as a research assistant and was earning less than me. He was willing to go dutch with me on our outings. My parents agreed to meet Murty in Pune on a particular day at 10 a. m sharp. Murty did not turn up. How can I trust a man to take careof my daughter if he cannot keep an appointment, asked my father.
At 12noon Murty turned up in a bright red shirt! He had gone on work to Bombay, was stuck in a traffic jam on the ghats, so he hired a taxi (though it was very expensive for him) to meet his would-be father-in-law. Father was unimpressed. My father asked him what he wanted to become in life.
Murty said he wanted to become a politician in the communist party and wanted to open an orphanage. My father gave his verdict. NO. I don't want my daughter to marry somebody who wants to become a communist and then open an orphanage when he himself didn't have money to support his family.
Ironically, today, I have opened many orphanages something, which
Murty wanted to do 25 years ago. By this time I realized I had developed a liking towards Murty which could only be termed as love. I wanted to marry Murty because he is an honest man. He proposed to me highlighting the negatives in his life. I promised my father that I will not marry Murty without his blessings though at the same time, I cannot marry anybody else. My father said he would agree if Murty promised to take up a steady job. But Murty refused saying he will not do things in life because somebody wanted him to. So, I was caught between the two most important people in my life.
The stalemate continued for three years during which our courtship took us to every restaurant and cinema hall in Pune. In those days, Murty was always broke. Moreover, he didn't earn much to manage. Ironically today, he manages Infosys Technologies Ltd., one of the world's most reputed companies. He always owed me money. We used to go for dinner and he would say, I don't have money with me, you pay my share and I will return it to you later. For three years I maintained a book on Murty's debt to me. No,he never returned the money and I finally tore it up after my wedding.
The amount was a little over Rs 4000. During this interim period Murty quit his job as research assistant and started his own software business. Now, I had to pay his salary too! Towards the late 70s computers were entering India in a big way. During the fag end of 1977 Murty decided to take up a job as General Manager at Patni Computers in Bombay. But before he joined the company
he wanted to marry me since he was to go on training to the US after joining. My father gave in as he was happy Murty had a decent job, now.
WE WERE MARRIED IN MURTY'S HOUSE IN BANGALORE ON FEBRUARY 10, 1978 WITH ONLY OUR TWO FAMILIES PRESENT. I GOT MY FIRST SILK SARI. THE WEDDING EXPENSES CAME TO ONLY RS 800 (US $17) WITH MURTY AND I POOLING IN RS.400 EACH.
I went to the US with Murty after marriage. Murty encouraged me to see America on my own because I loved travelling. I toured America for three months on backpack and had interesting experiences which will remain fresh in my mind forever. Like the time when the New York police took me into custody because they thought I was an Italian, trafficking drugs in Harlem. Or the time when I spent the night at the bottom of the Grand Canyon with an old couple. Murty panicked because he couldn't get a response from my hotel room even at midnight. He thought I was either killed or kidnapped.
IN 1981 MURTY WANTED TO START INFOSYS. HE HAD A VISION AND ZERO CAPITAL...initially I was very apprehensive about Murty getting into business. We did not have any business background. Moreover we were living a comfortable life in Bombay with a regular pay check and I didn't want to rock the boat. But Murty was passionate about creating good quality software. I decided to support him. Typical of Murty, he just had a dream and no money. So I gave him Rs 10,000 which I had saved for a rainy day, without his knowledge and told him, this is all I have. Take it. I give you three years sabbatical leave. I will take care of the financial needs of our house. You go and chase your dreams without any worry. But you have only three years!Murty and his six colleagues started Infosys in 1981, with normous
interest and hard work. In 1982 I left Telco and moved to Pune with Murty. We bought a small house on loan which also became the Infosys office. I was a clerk-cum-cook- cum-programmer. I also took up a job as Senior Systems Analyst with Walchand group of Industries to support the house.
In 1983 Infosys got their first client, MICO, in Bangalore. Murty moved to Bangalore and stayed with his mother while I went to Hubli to deliver my second child, Rohan. Ten days after my son was b! orn, Murty left for the US on project work. I saw him only after a year, as I was unable to join Murty in the US because my son had infantile eczema, an allergy to vaccinations. So for more than a year I did not step outside our home for fear of my son contracting an infection. It was only after Rohan got all hisvaccinations that I came to Bangalore where we rented a small house in Jayanagar and rented another house as Infosys headquarters. My father presented Murty a scooter to commute. I once again became a cook, programmer, clerk, secretary, office assistant et al. Nandan Nilekani (MD of Infosys) and his wife Rohini stayed with us. While Rohini babysat my son, I wrote programs for Infosys. There was no car, no phone, and just two kids and a bunch of us working hard, juggling our lives and having fun while Infosys was taking shape. It was not only me but also the wives of other partners too who gave their unstinted support. We all knew that our men were trying to build something good.
It was like a big joint family,taking care and looking out for one
another. I still remember Sudha Gopalakrishna looking after my daughter Akshata with all care and love while Kumari Shibulal cooked for all of us. Murty made it very clear that it would either be me or him working at Infosys. Never the two of us together... I was involved with Infosys initially.
Nandan Nilekani suggested I should be on the Board but Murty said he
did not want a husband and wife team at Infosys. I was shocked since I had the relevant experience and technical qualifications. He said, Sudha if you want to work with Infosys, I will withdraw, happily. I was pained to know that I will not be involved in the company my husband was building and that I would have to give up a job that I am qualified to do and love doing.
It took me a couple of days to grasp the reason behind Murty's request. I realized that to make Infosys a success one had to give one's 100 percent. One had to be focussed on it alone with no other distractions. If the two of us had to give 100 percent to Infosys then what would happen to our home and our children? One of us had to take care of our home while the other took care of Infosys.
I opted to be a homemaker, after all Infosys was Murty's dream. It was a big sacrificebut it was one that had to be made. Even today, Murty says, Sudha, I stepped on your career to make mine. You are responsible for my success.
Great, isn't it? .... That's the Power of Love.
NARAYANA MURTHY PROFILE (INFOSYS FOUNDER)
Born: August 20, 1946
Achievement: One of the founders of Infosys Technologies Limited; Chosen as the World Entrepreneur of the Year - 2003 by Ernst and Young
Narayana Murthy is the Non-Executive Chairman and Chief Mentor of Infosys Technologies Limited. He is a living legend and an epitome of the fact that honesty, transparency, and moral integrity are not at variance with business acumen. He set new standards in corporate governance and morality when he stepped down as the Executive Chairman of Infosys at the age of 60.
Born on August 20, 1946, N.R. Narayana Murthy is a B.E. Electrical from University of Mysore (1967) and M.Tech from IIT Kanpur (1969). Narayan Murthy began his career with Patni Computer Systems in Pune. In 1981, Narayana Murthy founded Infosys with six other software professionals. In 1987, Infosys opened its first international office in U.S.A.
With the liberalization of Indian economy in 1990s, Infosys grew rapidly. In 1993, the company came up with its IPO. In 1995, Infosys set up development centers across cities in India and in 1996, it set up its first office in Europe in Milton Keynes, UK. In 1999, Infosys became the first Indian company to be listed on NASDAQ. Today (in 2006), Infosys has a turnover of more than $ 2billion and has employee strength of over 50,000. In 2002, Infosys was ranked No. 1 in the "Best Employers in India 2002" survey conducted by Hewitt and in the Business World's survey of "India's Most Respected Company." Conducted in the same year.
Along with the growth of Infosys, Narayana Moorthy too has grown in stature. He has received many honors and awards. In June 2000, Asiaweek magazine featured him in a list of Asia's 50 Most Powerful People. In 2001, Narayana Murthy was named by TIME/CNN as one of the 25 most influential global executives. He was the first recipient of the Indo-French Forum Medal (2003) and was voted the World Entrepreneur of the Year - 2003 by Ernst and Young. The Economist ranked Narayana Murthy eighth on the list of the 15 most admired global leaders (2005) and Narayan Murthy also topped the Economic Times Corporate Dossier list of India's most powerful CEOs for two consecutive years - 2004 and 2005.
Subscribe to:
Posts (Atom)
