In The News
28 Apr 2014

Infosys executive chairman NR Narayana Murthy gets Global Indian Award


NR Narayana Murthy
NR Narayana Murthy

Infosys executive chairman NR Narayana Murthy was on Sunday presented with the 2014 'Canada India Foundation Chanchalani Global Indian Award' here for his "remarkable vision and leadership in the IT sector".

The award, carrying a trophy and a cash prize of US$50,000, was presented to Murthy by Canadian Finance Minister Joe Oliver at the Canada India Foundation (CIF) annual award gala dinner. Dignitaries present on the occasion were: Canadian Immigration Minister Chris Alexander, Canadian Sports Minister Bal Gosal, High Commissioner of India in Canada Nirmal Verma, and Chairman of the Canada India Foundation Lakshmanan.

Governor General David Johnston, Prime Minister Stephen Harper, Ontario Premier Kathleen Wynne and Co-Chair of the Canada-India Parliamentary Friendship Group Patric Brown lauded Murthy for his outstanding contributions in the field of business. Stressing on the need for "compassionate capitalism", Murthy said, "Capitalism today seems increasingly dysfunctional and alienating. Even for the vast majority in the developed world, it seems to fundamentally conflict with humanity's non-economic values."

"We (the MNCs) have not made significant progress in enhancing social capital, concern for the less fortunate, honesty and fairness. We have the responsibility to repair this situation," Murthy said.

Reminding the MNCs that businesses could not succeed in societies that fail, Murthy said, "There is an urgent need to create companies which want to make a difference to the context through society-oriented and charitable activities."

Inviting Canadian investments in India, Indian High Commissioner Verma said if Canadian companies want to succeed in India, they must have 4Ps, namely - patience, perseverance, price and presence.

Verma stressed that companies need to devise India- specific business models. This could be aided by utilising the cost-effective production chain that India has to offer. Companies need to localise supply chains in India to beat down cost of production, he said. Referring to Indo-Canadian trade relations, Verma said civil nuclear cooperation between the two countries has operationalised with the first shipments of Canadian oil being recently delivered to Indian refinery and the first investment being made by an Indian company in Canada's energy sector.

Source: India Today