N. R. Narayana Murthy, one of the bright minds behind the formation of the Indian multinational business Infosys Ltd., is an industrialist regarded as one of the greatest Indian industrialists of the modern era. Murthy has played a significant influence in the success of Infosys, a large IT company that provides business consulting, information technology, and outsourcing services. Murthy showed glimpses of grandeur from an early age and obtained his schooling from one of India’s best technology schools. He worked for Patni Computer Systems in Pune before deciding to start his own business. He had always aspired to be an entrepreneur and intended to establish a large corporation that would provide work possibilities for the country’s youth. With a great mind and smart business sense, he founded Infosys with six other software professionals, including Nandan Nilekani and N. S. Raghavan, with just Rs. 10,000 in seed money. Over the years, the company has grown to become one of India’s leading IT services providers. His company’s impact on India’s IT sector growth has been enormous, and he has been dubbed the “Father of Indian IT Sector” by Time magazine. For his contributions to the Indian industrial sector, he has received numerous accolades.
Childhood and Adolescence
He was born on August 20, 1946, into a middle-class family in Sidlaghatta, Karnataka.
Narayana’s uncle was a public servant, and his father encouraged him to follow in his footsteps. However, the little lad had different ideas; he wanted to be an engineer because it was the “in” thing in India at the time.
After completing his education, he took the India Institute of Technology (IIT) entrance exam and received a high score and a scholarship. However, the scholarship was insufficient to cover all of his college costs, and his father was unable to pay the tuition.
He enrolled in a local engineering college, the National Institute of Engineering, on his father’s advice, and graduated with a degree in Electrical Engineering in 1967.
In 1969, he received his master’s degree from the Indian Institute of Technology in Kanpur. He had an accidental meeting with a well-known computer scientist from the United States while at IIT and was extremely inspired by the scientist’s speeches. This encouraged Narayana to pursue a career in the information technology field in the future.
After completing his study, he was inundated with job offers, as there were few computer science graduates in India at the time. He received job offers from HMT, Telco, and Air India, all of which paid well.
He turned down all of these offers to work at the India Institute of Management (IIM), Ahmedabad until one of the institute’s professors personally came to speak with the brilliant young guy about an exciting career opportunity.
The Career of Narayana
He started as a lead systems programmer at the IIM in Ahmedabad. He worked on the installation of India’s first time-sharing computer system, making IIM the third business school in the world to do so after Harvard and Stanford.
The job at the IIM was demanding but rewarding. He used to work 20 hours a day and had a lot of experience. Murthy still believes that enrolling in the IIM was the best professional decision he has ever made.
In the 1970s, he worked abroad, and the years he spent in Paris had a profound impact on him. Initially, a committed Marxist who backed Communism, he finally changed his mind and came to the conclusion that compassionate capitalism and large-scale job creation was the only viable way to eradicate poverty.
He gained a lot of knowledge from western countries, but he finally wanted to return to India and start a business there. He founded Softronics, which lasted only a year and a half before failing. As a result, he went to Patni Computer Systems in Pune.
He eventually chose to return to entrepreneurship and, with the help of six other software specialists, founded “Infosys Consultants Pvt Ltd.” (now known as Infosys Ltd.) in Pune in 1981 with a capital of Rs. 10,000. In 1983, the company’s headquarters were relocated from Pune to Bangalore.
Murthy was named CEO of Infosys in 1981 and held the role till 1989. Nandan Nilekani, a co-founder, took over as chairman in 2002.
In 2002, he was named Chairman of the Board, and in 2006, he was named Chief Mentor. In August 2011, he stepped down as Chairman Emeritus of the corporation.
He has served on the boards of directors of DBS Bank, Unilever, and ICICI Bank. He is a philanthropist who sits on the boards and councils of a number of organizations, including Cornell University, the Ford Foundation, the United Nations Foundation, and the Indo-British Partnership.
In June 2013, he returned to Infosys as Executive Chairman and Additional Director after the company’s performance worsened during his leave. In June 2014, he resigned as Executive Chairman.
Narayana’s Major Projects
Murthy is most recognized for being one of the co-founders of Infosys Ltd., India’s largest IT services firm with operations all over the world.
Infosys became the first Indian company to be listed on the Nasdaq under his leadership. It was also the first Indian firm to be placed on the stock exchange with a $1 billion annual revenue.
Achievements & Awards
In 2000, he was awarded the Padma Shri, India’s fourth-highest civilian accolade, for his outstanding contribution to the industry.
In 2008, the Indian government awarded him the Padma Vibhushan, the country’s second-highest civilian honor, for his outstanding contributions to Indian information technology.
He was the inaugural winner of the Sayaji Ratna Award (SRA Award) in 2013, which was founded to commemorate Maharaja Sayajirao Gaekwad III, the erstwhile ruler of Baroda’s 151st birthday.
Personal History and Legacy
He is married to Sudha Kulkarni and they have two children: Rohan Murthy, a son, and Akshata Murthy, a daughter. His wife is a recognized Kannada and English author as well as a well-known social activist.
Estimated Net worth
N.R. Narayana Murthy is a billionaire Indian businessman worth $1.6 billion.
Narayana Murthy rose to prominence in the information technology industry as the co-founder of Infosys, a multinational provider of business consulting, technology, engineering, and outsourcing services.