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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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Infosys Relying on Automation for Digital Transformation of Their Clients’ Business

Infosys using automation to transform clients’ business: Nilekani

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Office building of Infosys.

Renewing legacy systems but discarding legacy mindsets, India’s global software major Infosys is relying on automation for digital transformation of their clients’ business, Chairman Nandan Nilekani said on Saturday.

“We are relying on extreme automation to free up our people to focus more on solving client challenges, mentoring their teams and investing in learning for digital transformation of their business,” the firm co-founder said at the company’s 38th Annual General Meeting here.

Addressing shareholders, the board of directors and employees, Nilekani said the management was working to dissolve silos across its global operations to ensure its clients have instant access to ideas emanating from Infocions so as to leverage their best when they interact with them.

Employees queue up infront of Infosys office.

“The novel approach means focusing on personal growth, nurturing zero-latency in processes, ensuring just-in-time data for decision-making, driving hyper-productivity and facilitating learning to instil new patterns of behaviour,” he said.

As its global clients were operating in a complex world, disrupted by many digital technologies, he said they were looking at the company to partner with them in the new digital era.

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“Our work across industries, value chains and geographies gives us keen insights into the pattern of changes transforming the fundamental wiring across a diverse set of businesses. We know that with this understanding, we are uniquely positioned to assist our clients in picking the right signals and to discover what’s next,” he asserted. (IANS)