N. R. Narayana Murthy, co-founder of Infosys, attended an interactive session with students at the Asian College of Journalism. Murthy responded to questions ranging from entrepreneurship and the qualities of a leader, to issues of corporate governance and education in India.
Murthy suggested that youngsters who want to start their own business should first decide which field they want to become an entrepreneur in and then join a company in that field so that they can understand HR, Finance, and other business functions. Afterwards, they should start their own companies. While this won’t guarantee their success, it would improve the odds of their succeeding, he said.
Responding to questions on corporate governance, Murthy said that independent directors on the board of independent companies “are not adequately trained and Indian culture does not encourage them to do what is right for the shareholders if it is against the interests of the management, who they meet frequently.” He also said that the remuneration committees of companies should look at fairness, transparency, and accountability when setting executive pay.
Murthy stressed on the need to reform India’s education system, saying that “If we want youngsters to be useful to society, we have to teach them problem-solving,” rather than just focusing on rote learning.
ACJ Chairman Mr. Sashi Kumar moderated the interactive session.