India way behind in constant innovation: Murthy
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India way behind in constant innovation: Murthy
Mumbai: Indian companies are doing well globally but they need to be innovative as they face challenge of creating global brand, according to N R Narayana Murthy, Co-founder and Chief Mentor, Infosys. "I have seen a new sense of confidence in India. Our companies have done pretty well. They have gone and acquired several companies in Europe, in Asia and in the U.S. But we do have a challenge and that is we have to create global brands," he said. Murthy was speaking on the occasion of a meet organized by Indian Institute of Technology - Bombay and Australia's Monash University to discuss future challenges and finding solutions through research in engineering, science and technology. He said innovation and marketing were two very important functions in any enterprise, without which it was very unlikely that a corporation would have a great future. That is why there is a need of a global brand. "Creation of such global brands requires innovation. I think it is our responsibility in the industry to create a great future for ourselves on a global scale in the global bazaar by creating global brands, products and services," he added. Murthy said India's GDP growth rate was pretty impressive and Indian exports were "pretty decent even though in the last year or so it has come down".