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<\/p>\nCapitalism, grounded in the twin pillars of a free market and entrepreneurship, is the singular solution to addressing the issue of poverty in India and any country, N R Narayana Murthy, co-founder of Infosys, said during a fireside chat moderated by Nikhil Kamath, co-founder of the brokerage platform Zerodha.<\/p>\n
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“The government should function as a fair and transparent regulator.<\/p>\n
“On the entrepreneurs’ side, they must recognise themselves as evangelists for capitalism.<\/p>\n
“Capitalism is relatively new in India, and it’s not enough for entrepreneurs to simply seek a free market.<\/p>\n
“They need to bring fairness, transparency, and accountability to the operation of their enterprises.<\/p>\n
“Decisions should positively impact even the lowest-level employees,” Murthy emphasised during the Bengaluru Tech Summit.<\/p>\n
Murthy reflected on his personal evolution from a “confused Leftist” to a “determined compassionate capitalist”.<\/p>\n
He stressed that as capitalism evangelists, citizens should be willing to accept a higher level of taxation, especially in developing countries compared to developed ones.<\/p>\n
Applauding the government’s National Education Policy, Murthy deemed it a step in the right direction.<\/p>\n
“The need of the day is to instil independent thinking, active listening, critical thinking, and the ability to relate classroom learning to real-world problems in the minds of children,” he added.<\/p>\n
Regarding Bengaluru’s status as the country’s technology capital, contributing around 35-37 per cent of the total software exports amounting to about $75 billion, Murthy suggested that the state should facilitate the opening of more English medium schools to enhance the city’s attractiveness.<\/p>\n
He also stressed the urgency of improving the city’s infrastructure, citing China’s quick decision-making processes as an example.<\/p>\n
“People in the infrastructure industry must work three shifts a day.<\/p>\n
“Merely working a single shift from 11 am to 5 pm is not sufficient.<\/p>\n
“In nations with high aspirations, I’ve witnessed people working at least two shifts.<\/p>\n
“I can vouch for two shifts of work,” he stated.<\/p>\n
Murthy attributed Bengaluru’s growth to its hospitable, accommodative, welcoming, and kind population, noting Karnataka’s long-standing reputation for producing skilled engineers.<\/p>\n
To achieve a high gross domestic product per capita, Murthy urged political leaders to carefully study China, emphasising that this recommendation is separate from geopolitical considerations.<\/p>\n