29 April 2017 | Last updated 11:47 PM

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Need to reduce ‘friction’ in businesses: Narayan Murthy
PTI | Friday, 14 April 2017 AT 10:39 AM IST
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Charlottesville (US): To transform India’s economy, there is a need to reduce ‘friction’ in businesses and create an ‘environment’ wherein the government has more trust in its entrepreneurs, Infosys founder NR Narayana Murthy has said.

For the transformation of the Indian economy, he said it is essential for the younger generation to be daring and that India is integrated with the global economy.

“We still have a little bit of work in reducing friction to businesses. We need to create an environment where the government has more trust in its entrepreneurs than it is today,” Murthy, 70, told students of the Darden School of Business at the University of Virginia here.

Murthy, the recipient of the 2017 Thomas Jefferson Foundation medal in Global Innovation, was responding to Darden School of Business Dean Scott Beardsley who asked, “what do you think needs to happen next to transform India’s economy. What is next”.

“We want our youngsters to be a little bit more daring in taking the entrepreneurial route more and more than the extent to which they do today. We have to become much more integrated to the world economy so that we can consider the entire world as our market and can become globally

competitive. And most importantly we can become much more open minded to learn from the wonderful things that are happening in this country and elsewhere. I would say these are required (for transforming India’s economy to the next level),” Murthy said.

He, however, refrained from elaborating what the Indian government needs to do and said, “I will tell you why, as an Indian citizen, it may not be proper if I were to be critical about India when I am outside India”.

Interacting with students, he said, “Today, challenges are different. But in some sense even more complex... because there is so much of competition on a global scale.

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