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Manmohan Singh was extraordinary but India came to a standstill during the UPA era: Narayana Murthy

IT giant Infosys co-founder NR Narayana Murthy lamented that economic activities in India were “stagnant” and decisions were not taken Manmohan Singh Government during the time of Congress-led UPA.

During an interaction with young entrepreneurs and students at Indian Institute of Management – Ahmedabad (IIMA) Murthy on Friday expressed confidence that young minds can make India a worthy competitor to China, the world’s second largest economy.

“I used to be 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 the meetings), India’s name would be mentioned once,” the eminent businessman said in response to a question on whether he would like India in future. Where does he see

“But unfortunately, I don’t know what happened later (with India). (Former PM) Manmohan Singh was an extraordinary man and I have great respect for him. But, somehow, India came to a standstill (in the UPA era). The decision was not taken and everything was delayed,” said Murthy.

IT Caesar said that when he left HSBC (in 2012), India was rarely mentioned during meetings, while China was named about 30 times.

“Therefore, I think it is your (young generation) responsibility that whenever people name any other country, especially China, mention the name of India. I think you guys can do that,” said Murthy.

The former Infosys chairman said there was a time when most Westerners looked down on India, but today there is a certain level of respect for the country, which has now become the fifth largest economy in the world.

According to him the economic reforms of 1991, when Manmohan Singh was the Finance Minister, and the current Bharatiya Janata PartySchemes like ‘Make in India’ and ‘Startup India’ of the NDA government have helped the country move forward.

“When I was your age, there was not much responsibility as neither much was expected of me nor India. Hope today you will take the country forward. I think you guys can make India a worthy competitor to China,” Murthy said.

The software industry veteran said that China has overtaken India by a huge margin in just 44 years.

“China is unbelievable. It (Chinese economy) is six times bigger than India. In 44 years between 1978 and 2022, China has overtaken India. Six times is not a joke. If you do things, India should Will get the same respect that China is getting today,” Murthy said.

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