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Competition brings out the best in any company and leads to innovation: Narayana Murthy

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Narayana Murthy Infosys (7)_0_0

By NewsGram Staff Writer

“Competition and regulation are the two mechanisms which can ensure that the “Invisible Hand” works to the advantage of the society,” said Infosys founder N.R. Narayana Murthy today during an event.

During the keynote address at the 6th Annual Day Lecture on ‘Creating a Better India – Musings on Economic Governance Ideas for India’ organised by the Competition Commission of India,  Murthy said that competition brings out the best in any company and leads to innovation, new ideas, services and products.

Referring to the role of regulation, Murthy advocated for swift and fearless regulatory decisions. He stressed that trust and confidence in the regulators are important to attract more and more entrepreneurs to start businesses.

Within such system, he indicated five roles which the government has to discharge viz. unanimity of conviction and integrity of belief among all political parties that solution to the problem of poverty is through elimination of friction to businesses and entrepreneurs and by creating more jobs; translating this conviction by speedy action to ensure growth of the economy and creation of better jobs; creating an independent and meritocratic judiciary with up-to-date technology, and knowledge of modern, global judicial practices and judgements; introducing transparent and stable taxation policy; and lastly using tax money wisely and efficiently to make life better for the poor by investing in education, healthcare, nutrition and shelter.

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Software Major Infosys Projected as Top Employer in APAC Region

Established 28 years ago, Top Employer Institute recognises excellence in people practices

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Infosys
Office building of Infosys. Pixabay

Software major Infosys has been projected as a top employer in Australia, Japan and Singapore across the Asia-Pacific region in 2020, by the Top Employer Institute in recognition of its excellence in hiring practices.

“Organizations certified as top employers provide best working environment for employees through ‘people-first’ HR practices, as they are subjected to a rigorous selection process by the Dutch Institute,” the city-based IT behemoth said in a statement.

Encompassing 100 queries, covering 600 people development practices, the assessor has evaluated talent strategy, workforce planning, talent acquisition, on-boarding, learning and development and performance management.

Leadership development, career and succession management, compensation and benefits and culture also were part of the evaluated topics in certifying the $11 billion IT company.

Infosys office
Employees queue up infront of Infosys office. Wikimedia Commons

“We are committed to enhancing our human resource practices and building collaborative workplaces – as we believe this benefits not only our people, but also our clients, and the community at large,” said Infosys chief operating officer U.B. Pravin Rao in the statement.

Rao said the honour demonstrates Infosys’ focus on localisation and approach to help clients navigate their digital transformation journey.

Also Read: Walmart, Flipkart Jointly Invest in Ninjacart Startup: Report

Top Employer Institute has certified and recognised more than 1,500 employers in 118 countries.

Established 28 years ago, Top Employer Institute recognises excellence in people practices. (IANS)