• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Our Bureau

Mr G.N. Bajpai, Chairman, SEBI, with Mr N.R. Narayana Murthy, Chairman, SEBI Committee on Corporate Governance, at a CII meeting in Mumbai on Thursday.

Mumbai , July 17

LET government not put money into information technology, let it only make it easy for foreign direct investment to come into the country, the Chairman and Chief Mentor of Infosys Technologies, Mr N.R. Narayana Murthy, has said.

He was participating at the Gartner summit's mastermind keynote discussion here today on the subject of `IT's role in creating a developed India'.

About the current importance of IT in India's development, Mr Murthy said, "IT reduces cost and time to market and improve productivity. Once we all agree on that, there's no doubt that IT has a very important role to play in nation building. We've all seen how IT, in the last couple of decades, has contributed significantly to improve the productivity, from 1.4 per cent, then, to 2.5 now, and they say a part of it is because of IT. Now, what should get more priority, IT or other instruments of growth?"

Government need not do anything but only allow investments to come in. "If you want to let FDI come in a significant way, our people will have to create visible signs of progress to create confidence in our foreign investors, something which China is doing," he said. More important than portfolio investment is FDI that comes as equity or long term goals.

"We need to create case studies where technology can benefit masses and which will be noticed by people, politicians and bureaucrats," he said.

Article E-Mail :: Comment :: Syndication

Stories in this Section
BSNL, MTNL to retain ISD rates — PSUs won't respond to cheaper pvt mobile tariffs

Copyright © 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line