Yesterday, March 12, Infosys Co-founder R Narayana Murthy stated that businesses and entrepreneurs must respect people as individuals, close the pay gap between the lowest and highest earnings, and embrace "compassionate capitalism."
Murthy emphasised the importance of maintaining the respect and dignity of all company employees, Money Control reports.
“To praise people in public and criticize in private, and to the extent possible, to share the fruit of the corporation in a fair manner amongst all employees of the company," he added, elaborating what upholding employee dignity meant.
He stated that the future of India's prosperity and poverty alleviation will transpire when the country's businesses and entrepreneurs embrace capitalism while remaining compassionate, while in conversation with TiE Mumbai President Harish Mehta.
Adding to this, Mehta recounted an event from when the technology industry association Nasscom was founded in India with approximately 50-60 companies, incurring significant losses and expenses. To keep the organisation going, each company had to pay around Rs 25,000 each month, which was a large sum at the time.
When the losses increased, and Nasscom failed to account for them, Murthy stepped in to provide training on IBM AS400 computers at Infosys sites. The skills needed to run these computers were in high demand in the IT industry at the time.
Murthy has previously attracted criticism for his views on the 70-hour work week, emphasising the importance of young people in India working hard to help the country become a worldwide leader.
