Information know-how firm Infosys co-founder NR Narayana Murthy on Friday mentioned that during the Congress-led UPA authorities, when Manmohan Singh was the prime minister, financial exercise in India had “stagnated” and choices weren’t being taken. During an interplay with younger entrepreneurs and college students at the Indian Institute of Management – Ahmedabad (IIM-A), Murthy expressed confidence that younger minds could make India a worthy competitor to China.
In response to a query, he mentioned, “I was on the board of HSBC in London (between 2008 and 2012). In the first few years, when China was mentioned two to three times in the boardroom (during meetings), India’s name would come up only once.” Murthy added, “But sadly, I do not know why after What occurred in (with India)? (Former PM) Manmohan Singh was a rare man and I’ve nice respect for him. But during the UPA period, India had come to a standstill. Decisions weren’t being taken.
When he left HSBC (in 2012), India was not often talked about during conferences, whereas China was named about 30 instances. Murthy mentioned that immediately there is a way of respect for India in the world and the nation has now develop into the fifth largest financial system in the world.
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