At a time when Infosys seems keen on investing in India’s growing startup culture, its co founder Narayana Murthy has voiced his opinion on the same.
“I would not be too much worried about whatever is happening in the area of e-commerce. After all, it is nice to see youngsters - people in their 20s and 30s - have their share of limelight on the strength of such wonderful valuations,” Murthy told ET Now in an interview recently.
“Let us be very clear - the people who put money on the table did so only after they had done their due diligence. Therefore, who am I to say that it is not right?”
While many entrepreneurs have succeeded in their start up venture, Murthy would caution saying, “…But they must all remember that the game is only starting now. The real game will be when they get to a steady state where they will have to control cost, enhance their revenues, and become profitable.”
“I am sure that with the kind of encouragement and confidence that they have today, these youngsters will do very well as we move into the future. A few years from now, we will all be applauding them. I have no doubt about it,” he told ET Now.
Speaking on his opinions on the current business environment in India, Murthy told ET Now, “…The current laws state that any company wherein 50% of equity is held by foreigners will be called a foreign company even if the company is registered, listed, and pays tax in India. It is called a foreign company even it employs by and large Indians. It shows that our drafting of laws still requires a lot of thinking, a lot of detailing and a lot of consulting.”