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Below are View On Infosys was in the startup stage, the company and industry By Mr. Narayan Murthy, an industry veteran and founder of Infosys - Motilal Oswal

Start-up environment highly capable and competitive

As per Mr. Murthy, when Infosys was in the startup stage, the company and industry went through a lot of friction due to regulatory and funding challenges, while talent availability was not a concern. He believes that today’s entrepreneurs are highly capable and there is a good ecosystem to fund them, but the market is also highly competitive, and access to good talent is critical for success.

Long runway for growth for the IT Services industry

Technology is changing rapidly, and there is enormous opportunity for the Services industry. As long as business growth is driven by technology, demand for services will remain high as it creates a bespoke technology layer within the enterprise ecosystem, which is a competitive advantage. He continues to expect customized and bespoke tech spending to be higher than software spending.

Challenges faced by corporates have evolved

Corporates in CY21 face a variety of challenges, which poses a threat to their growth and sustainability, although underlying requirements have remained the same over the last 30 years. These include: 1) availability of a globally competitive talent pool and lack of independent thinking, 2) availability of engineers with English proficiency as most of India’s exports are to English speaking countries (US, UK, etc.), and 3) rise of nationalism in various countries may lead to adoption of restrictive practices, which may impact growth.

ESG remains core to sustainability and growth

ESG remains core to sustainable growth of businesses in India. Infosys created a space for itself due to employee and environmentally friendly practices. It offered 19% of its equity to employees as ESOPs and created energy efficient campuses. Good ESG practices lead to higher confidence, trust, and morale among employees. Moreover, good governance helps build longevity in customer relationship, attracting and retaining competent and value based employees, enhancing trust of investors, earning the goodwill of government, and living in harmony with society.

Leadership requirements remain unchanged Leadership requirements remain the same as was 30 years ago. A leader is a change agent and his/her responsibility is primarily to raise aspirations, hope, confidence, courage, and enthusiasm of his/her team to achieve the impossible. This has been the same from time immemorial.

Technology creates better opportunities and societal benefits

Mr. Murthy does not see any risk from an increase in the use of technology on employment opportunities. New technologies be it in cars, ATM, or internet banking always leads to a better kind of jobs. Moreover, a number of higher quality jobs, with better compensation, have increased after the introduction of a new technology. Proof of this is visible in the developed world, which has embraced technology and also has one of the lowest unemployment levels. Technology also helps in social betterment as it increases financial inclusion, increases transparency, and reduces corruption.

Five key lessons from Mr. Murthy’s long and successful journey:

* A leader needs to lead by example. It is the most powerful instrument a leader can follow, and a leader needs to ‘walk the talk’.

* Performance is the only instrument by which leaders can earn the respect of others. Performance requires a lot of teamwork and hard work.

* Need to keep ones conscious clean: It’s more important to keep one’s conscience clean. If one commits a mistake, one needs to contemplate and make sure they do not repeat the mistake.

* It is very important to show grace and courtesy when you are a winner. It is important to show humility at the top.

* Luck plays a big part in our success. We should not let success go to our head.

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