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New Delhi, India has probably seen its youngest millionaire in Ekagrah <keyword id="20076454" type="General" weightage="20" keywordseo="rohan-murty" source="keywords">Rohan Murty</keyword> - the four-month-old grandson of Infosys founder N.R. <keyword id="19920910" type="General" weightage="20" keywordseo="narayana-murthy" source="keywords">Narayana Murthy</keyword>. According to a regulatory filing, <keyword id="20482766" type="General" weightage="20" keywordseo="narayana" source="keywords">Narayana</keyword> Murthy has gifted shares worth more than Rs 240 crore to his grandson. <keyword id="21000975" type="General" weightage="20" keywordseo="ekagrah-murty" source="keywords">Ekagrah Murty</keyword> received 15 lakh shares, or 0.04 per cent stake, in Infosys. The 77-year-old Infosys founder gifted shares to his grandson in an off-market transaction. With this, Narayana Murthy's holding in the IT bellwether fell to 0.36 per cent, or more than 1.51 crore shares. At the price of Rs 1,620 per share on Monday, Ekagrah Murty received a whopping Rs 243 crore. Narayana Murthy and his wife and now <keyword id="19967755" type="General" weightage="20" keywordseo="rajya-sabha-mp" source="keywords">Rajya Sabha MP</keyword> <keyword id="20077886" type="General" weightage="20" keywordseo="sudha-murty" source="keywords">Sudha Murty</keyword> became grandparents in November last year after their son Rohan Murty and wife Aparna Krishnan welcomed a baby boy. Engineer-turned-philanthropist and author Sudha Murty took oath as Rajya Sabha MP last week in the presence of her husband.

Born with a golden spoon: 4-month-old old Ekagrah Murty now owns ₹240 crore Infosys stock

A bitter experience on a train in 1974 in Nis, a border town between what is now Serbia and Bulgaria, turned N R Narayana Murthy into a "compassionate capitalist", leading him to create Infosys, the country's IT bellwether.
 Recalling the incident, Murthy said he was engaged in a conversation with a girl, who could only understand French, but it landed him in trouble.
 "We were talking about life in Bulgaria. I think the boy, who was accompanying the girl, got upset with us for some reason. So, he went and brought the police," Murthy said on Sunday while addressing the audience at a tech fest organized by IIT, Bombay, through a video link.
 The Bulgarian guards took Murthy's passport, luggage and dragged him on the platform. He was kept in an 8X8 room, with primitive toilet facilities, for a few days.
 "I thought they would open the door in the morning and get me some breakfast since I was the state guest, but nothing happened. I lost all hope of eating anything," he said.
 The next morning, police took Murthy to the platform and pushed him into the guard's compartment of a departing freight train. At this point, Murthy had not had anything to eat or drink for five days in a row.
 The guards said, "Look, you are from a friendly country called India, so we are letting you go but we will give you your passport when you reach Istanbul."
 If a country treats friends like this, Murthy thought to himself, he would not want to be part of a communist country ever.
 "That cued me from being a confused leftist to a determined compassionate capitalist," he said.
 That incident pushed Murthy towards taking the plunge into entrepreneurship.
 He said his first attempt at entrepreneurship was a company called Softronics focused on providing IT services to the domestic market, in Pune, which he closed as he could not see any future prospects. See also: <a href="https://www.businessinsider.in/thelife/personalities/news/top-10-tech-billionaires-on-the-forbes-list-of-100-richest-indians/articleshow/71539382.cms">Top 10 tech billionaires on the Forbes list of 100 richest Indians</a> <a href="https://www.businessinsider.in/thelife/personalities/news/salil-parekh-infosys-ceo-profile/articleshow/71699382.cms">The Infosys clean-up under Salil Parekh seems to have come a full circle within 2 years</a> <a href="https://www.businessinsider.in/here-are-all-things-indian-about-boris-johnsons-new-cabinet/articleshow/70381071.cms">Here are all things Indian about Boris Johnson’s new Cabinet</a>

Infosys founder Narayana Murthy shares experience that turned him into 'compassionate capitalist'

<ul class="summary-list"><li>Infosys founder N.R. Narayana Murthy said young Indians should work 70 hours a week.</li><li>He said they need to become "highly determined, extremely disciplined, and extremely hardworking."</li></ul>One of India's top business leaders said that young Indians need to grind out 70-hour workweeks if they want to see their country realize its economic potential. "My request is that our youngsters must say: 'This is my country. I want to work 70 hours a week," N.R. Narayana Murthy, the 77-year-old founder of <a target="_blank" href="https://www.businessinsider.in/business/corporates/news/unlike-tcs-infosys-wants-to-remain-flexible-on-wfh/articleshow/104375828.cms">information technology giant Infosys</a>, said in a recent <a target="_blank" href="https://www.youtube.com/watch?v=ES8ZNSTswrs">interview</a> with former Infosys CFO T.V. Mohandas Pai.Murthy, who cofounded Infosys in 1981 and has a net worth of around $4.3 billion, <a target="_blank" href="https://www.forbes.com/profile/nr-narayana-murthy/?sh=4033d4823e05">according</a> to Forbes, said that India has one of the <a target="_blank" href="https://www.businessinsider.com/wfh-work-from-home-decreases-productivity-18-percent-study-rto-2023-8">lowest productivity levels</a> in the world and that it was the responsibility of the country's youth to drive changes in its work culture.Around 66% per cent of India's population is under the age of 35, <a target="_blank" href="https://www.ilo.org/newdelhi/info/WCMS_175936/lang--en/index.htm">according</a> to figures from the International Labour Organization (ILO). "Our culture has to change to that of highly determined, extremely disciplined, and extremely hardworking people," Murthy told Pai.He added that it was an opportune time to "consolidate and accelerate" the country's economic progress because India was beginning to receive global recognition for its fast-growing economy, which is on <a target="_blank" href="https://www.businessinsider.com/india-us-economy-biggest-in-world-china-imports-2023-7#:~:text=India%20is%20on%20pace%20to,chance%20it%20squanders%20this%20promise&amp;text=India%20is%20expected%20to%20be,tariffs%2C%20and%20discouraging%20foreign%20investment.">pace to become the world's second-largest economy by 2075</a>. But Indians already work some of the longest hours of any nationality, averaging around 47.7 hours per week per employed person, according to the <a target="_blank" href="https://ilostat.ilo.org/topics/working-time/#">ILO</a>. That puts India seventh in the global ranking, with only Qatar, Congo, Lesotho, Bhutan, Gambia, and the United Arab Emirates averaging more, per the ILO.Murthy's comments have thus stirred a debate on social media, with some saying that taking his advice <a target="_blank" href="https://www.businessinsider.com/work-life-balance-job-satisfaction-burnout-great-resignation-office-return-2023-4">might backfire and lead to burnout</a>.In a post on X, formerly known as Twitter, tech entrepreneur Vishal Gondal wrote: "Respectfully, Narayana Murthy ji, while hard work is crucial, a 70-hr work week may risk burnout and stifle creativity.""Empowering minds, not exhausting them, fuels the innovation that places nations at the pinnacle of global advancement," he added. A 70-hour workweek could also pose <a target="_blank" href="https://www.businessinsider.com/work-from-home-women-careers-jobs-pandemic-flexibility-gender-equality-2023-7">difficulties for working women</a>, many of whom also take on the <a target="_blank" href="https://www.businessinsider.com/how-much-time-men-women-spend-on-housework-caregiving-pew-2023-4#:~:text=Even%20when%20women%20earn%20the,their%20husbands%20are%2C%20on%20average.">bulk of household duties</a>.A time-use <a target="_blank" href="https://www.pib.gov.in/PressReleasePage.aspx?PRID=1660028">survey</a> taken in 2019 found that Indian women spent around 299 minutes a day on housework and 134 minutes on caregiving duties, while men spent just 97 minutes carrying out household tasks and 76 minutes on caregiving."With this statement, Mr. Murthy is essentially pushing women out of the workplace," one woman said in an X <a target="_blank" href="https://twitter.com/nuts2406/status/1717574024589705503">post</a>, adding that, "men are never going to share the load of housekeeping, caregiving and childrearing."

Billionaire businessman says young Indians should work 70 hours a week

<keyword id="6448574" type="PERSON" weightage="20" keywordseo="n-r-narayana-murthy">N R Narayana Murthy</keyword>, the co-founder of software giant <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> who chairs a Sebi panel on alternate investment policy advisory, on Tuesday pitched for pension funds and banks to invest money in Indian startups. Speaking at the annual Tiecon event, Murthy said a bulk of the money which gets invested as risk capital in the upcoming companies is from abroad and there is a need for domestic money to play an important role in this. At the same event, Murthy's former colleague at Infosys T V <keyword id="6491998" type="PERSON" weightage="20" keywordseo="mohandas-pai">Mohandas Pai</keyword>, who is now associated with Ispirit, an advocacy group for startups, said only a tenth of the USD 60 billion invested into Indian startups since 2014 has come from domestic investors. Pai warned that "we risk the prospect of turning into a digital colony" by 2025, seeking to draw parallels with imperialism.
 He said there will be 1 lakh startups in India with a collective valuation of over USD 500 billion by 2025. There will be at least 100 unicorns among them and over 65 of them will be majorly owned by foreign investors.
 "This is one of the most important issues that we have been discussing (at the Sebi panel). That is, what are the policy changes that are required to make sure that there is more of Indian and domestic money coming into the startup sector because today it is by and large from abroad," Murthy said.
 "To do that, pension funds must be allowed, corporations must be allowed, banks must be allowed," he added.
 Pai sounded more disappointed with Indian billionaires who are willing to invest in real estate and even bank deposits, but have a tendency to overlook the startup sector.
 In an apparent reference to the spate of frauds, Pai said the billionaires also tend to pass the risk on money invested to banks.
 He said the biggest letdown has been from financiers in Mumbai, and asked startup entrepreneurs to educate such professionals on the need of the hour. 
 Pai said why Indian pension funds or insurance companies cannot invest, questioning how companies in the same sector from abroad are coming in and taking interests here.
 Meanwhile, Murthy also clarified on a recent controversy over cutting short his speech at an event where he shared stage with American e-commerce giant Amazon's chief executive <keyword id="191583" type="PERSON" weightage="20" keywordseo="Jeff-Bezos">Jeff Bezos</keyword>. He said Bezos had come on time to the venue, but the "indisciplined" crowd at the venue in New Delhi mobbed the entry gates which resulted in the delayed start for the event.
 Bezos was very understanding and smiled at the act of cutting short the speech, Murthy said, adding that this is so because the visiting honcho is himself a disciplinarian. See also: <a href="https://www.businessinsider.in/business/news/with-kapil-wadhawans-arrest-the-family-is-now-accused-of-scams-worth-over-a-billion-dollars/articleshow/73713230.cms?src=hp_ts">With Kapil Wadhawan’s arrest, the family is now accused of scams worth over a billion dollars</a> <a href="https://www.businessinsider.in/budget/news/union-budget-2020-what-can-finance-minister-nirmala-sitharaman-do/articleshow/73691622.cms?src=hp_wh">Watch: India’s ‘make or break’ budget 2020⁠— once-in-a-career crisis offers Finance Minister Nirmala Sitharaman a fertile ground for creativity</a>

India's tech icon Narayana Murthy says India may become a 'digital colony' if startups have to rely on foreign funds

A day after <keyword id="6354512" type="CITY" weightage="80" keywordseo="Infosys">Infosys</keyword> reported 0.4% drop in dollar revenue, founder and executive chairman NR Narayana Murthy sent a note to the company's 1,60,405 employees outlining his desire to take Infosys to "industry leading growth". In a letter sent earlier today, Murthy said the Bangalore-based company has made considerable progress in cutting non-productive costs and revamping its training and assessment methods. 
 
Here's a copy of Murthy's letter to Infosys employees, in its entirety: 
 
Dear Infoscions, 
 
We announced our financial performance for FY'14 on April 15, 2014. We have doubled our growth from the previous year to 11.5% and improved operating margin by 2% between Q1 and 4 of FY'14. I thank all the 160,405 of you for your contribution and continued endeavour. 
 
This performance has given us the confidence to reinvest in our employees and I am so glad we rolled out compensation increments and promotions across the company by March 31, 2014. 
 
As a result of your support, we have made visible progress in increasing our market focus, eliminating non-productive costs, measuring and improving individual productivity, making the supply chain more agile and renewing our training and assessment methods. 
 
From the time I returned to Infosys in June 2013, I have met and got to know many of your extraordinary Infoscions in sales, software delivery and business enabler functions better. I believe we have a great team of people who are full of smart ideas and passion. 
 
My best wishes to every one of you. Lets work together toward achieving industry leading growth and profitability as we head into FY'15. 
 
Warm Regards, 
 
NR Narayana Murthy 
 
Executive Chairman of the Board

Infosys Chairman NR Narayana Murthy's Letter To Employees

BANGALORE: <keyword id="6354512" type="CITY" weightage="80" keywordseo="Infosys">Infosys</keyword> executive chairman NR Narayana Murthy said the selection process for the new <keyword id="5645" type="POSITION" weightage="60" keywordseo="CEO">CEO</keyword> is progressing as planned and the name of the candidate would be announced when the process concludes. 
 
“The selection process for the new leader is progressing as planned. The new CEO will be announced at the conclusion of the process. While the search is on, Infosys Board, Shibu, Kris and myself will continue to steer the company in the direction we have set. I assure the best of Infosys is yet to come,” he said in an email sent to employees on Friday. 
 The communication comes at a time when the management is making every effort to reassure employees and clients a smooth leadership transition as it is in the midst of identifying its <keyword id="270305" type="POSITION" weightage="40" keywordseo="first-non-founder-CEO">first non-founder CEO</keyword>. “Further to my previous email, as we embark into newer horizon for our employees and clients, we will see some transition in leadership. Please be assured that the leadership change takes into account the best interest of the company as a whole,” he wrote in the email. The communication is seen as an attempt to quell uncertainties around its leadership challenges after eleven senior executives quit Infosys since Murthy returned to the company in June last year. 
 
Murthy has also recognized BG Srinivas’s contribution in growing the company. “ I hold BG in high esteem and I support his aspirations. His last day will be June 10, 2014,” Murthy said. He also said the BG Srinivas is an integral part of the company and has played an important role in the second-largest IT firm. 
 
Srinivas, who quit Infosys on Wednesday, was appointed as the group managing director and executive director of Hong Kong-based telecom and media giant PCCW effective July 14. He will be entitled to a basic salary of approximately US$1.14 million (equivalent to approximately HK$8.84 million) per year, plus a housing allowance and a non-discretionary annual bonus of $1,80,000 (equivalent to approximately HK$1.4 million).

Infosys CEO Selection Progressing As Planned: Narayana Murthy

<keyword id="637412" type="PERSON" weightage="100" keywordseo="Infosys-founder">Infosys founder</keyword> <keyword id="51793" type="ORGANIZATION" weightage="100" keywordseo="NR-Narayana-Murthy">NR Narayana Murthy</keyword> might just have voiced his support to US Republican presidential candidate <keyword id="6354484" type="PERSON" weightage="100" keywordseo="Donald-Trump">Donald Trump</keyword>'s statement that he had given against outsourcing. 
 
As per a report, Murthy has told delegates at ISB Hyderabad that the Indian software industry has been working like 'immigration agents' for its employees, adding that it’s their responsibility to create local jobs for the youth of the country. 
 
"My belief was that a corporation that has global aspiration has to be fair to its global employees. All Indian companies guarantee visas, they guarantee green cards. The whole exercise has become as if they are immigration agents. I am sorry to say that. Indian companies behave as if they are agents for their employees to cross the Atlantic," Murthy was quoted in the report. 
 
He has given the statement after he was conferred the ISB Honorary Distinguished Fellowship, becoming the first recipient of this fellowship, which has been instituted by the ISB. 
 
The presidential candidate Donald Trump has been blaming India and China for outsourcing people to the US who snatch jobs from Americans. 
 
"They are taking our jobs. China is taking our jobs. Japan is taking our jobs. India is taking our jobs. It is not going to happen anymore, folks," Trump had said. 
 
<a href="http://1v1d1e1lmiki1lgcvx32p49h8fe.wpengine.netdna-cdn.com/wp-content/uploads/2014/09/newdaily_300914_trump.jpg">Image source</a>

This Indian tech honcho thinks that Donald Trump is right about Indians snatching jobs from Americans

<keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword>, India’s second largest IT company, admitted it had underestimated the effect of bringing in new and upcoming technologies. This could be one of the reasons that led to the shrinking of market share and decline in profits. 
 Infosys chairman <keyword id="51793" type="ORGANIZATION" weightage="100" keywordseo="NR-Narayana-Murthy">NR Narayana Murthy</keyword> had earlier said that the Bangalore-based company was lagging behind due to a lost focus on its “bread and butter traditional IT services.” 
 
“We underestimated the effects of the adoption of these new technologies and the change in the business model,” he said in a note to investors in the company’s annual report for 2013-14. 
 
“These newer services created smaller projects since many of the engagements were pilots. They also changed the revenue profile since clients preferred a subscription model to buy Cloud services. Our traditional business, IT services, slowed down, perhaps due to a lack of focus,” the co-founder said. 
 
More than three years ago, Infosys had introduced its 3.0 strategy, which aimed at expanding the focus and was looking to “move higher in the value chain.” Chief executive SD Shibulal had earlier said that the strategy would be “relevant to clients in all facets of their enterprises.” 
 
Many experts have, however, called the strategy’s timing inappropriate. Several observers have also questioned the weakness in execution of the 3.0 strategy. According to Partha Iyengar, India head of the IT research firm Gartner, “When Infosys says they want to be a product company, based on a thin stream of IP (intellectual property) scattered around the company, it is a difficult choice. To be a product-led company in the true sense, you need to have an absolute industry-leading product. Also, you cannot move to a product mindset company when you are such a mature player. 
 
“The CEO transition is an important move that the board has to act on in the coming year,” said Iyengar. “With Murthy as executive chairman, the risk in the transition is reduced,” he added

Infosys Admits Making ‘Strategy Errors’

<keyword id="5050" type="UNKNOWN" weightage="100" keywordseo="books">Books</keyword> are man’s truest friend, rightly said. Books are the burning testimony of man’s imaginations to his true struggles to victory. They tell the tales of the greatest oppressors to the greatest <keyword id="55496" type="UNKNOWN" weightage="100" keywordseo="peacemakers">peacemakers</keyword> of the world. Their words show the path when you can’t seek help from anyone else. They never fail to be beside you and show you the true road to success. From the likes of <keyword id="6357934" type="PERSON" weightage="100" keywordseo="Steve-Jobs">Steve Jobs</keyword> to Warren Buffet to Narayana Murthy, they have inspired every soul on earth. 

	Here’s a list of the books that five great entrepreneurs recommend every young aspirer to read.

	 
	 
	(Image credits: indiatimes)

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Born with a golden spoon: 4-month-old old Ekagrah Murty now owns ₹240 crore Infosys stock

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Infosys founder Narayana Murthy shares experience that turned him into 'compassionate capitalist'

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Billionaire businessman says young Indians should work 70 hours a week

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India's tech icon Narayana Murthy says India may become a 'digital colony' if startups have to rely on foreign funds

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Infosys Chairman NR Narayana Murthy's Letter To Employees

Times Of India

Infosys CEO Selection Progressing As Planned: Narayana Murthy

Times Of India

This Indian tech honcho thinks that Donald Trump is right about Indians snatching jobs from Americans

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Infosys Admits Making ‘Strategy Errors’

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