The Inspiring Journey of Narayana Murthy
👨💻StartupTalkers
Recently, Narayana Murthy has caught the headlines after he suggested the 70-hour work week for youngsters to enhance the country’s productivity.
Keeping that debate aside, let’s make this a reason to dive into the life of Narayana Murthy, a visionary leader and the founder of Infosys, a name that resonates with the dynamic world of technology and business.
Narayana Murthy's life story is a testament to the power of determination, entrepreneurship, and the impact of an individual's dream on an entire industry. Let us explore his inspiring journey, his role in the IT revolution, and his contributions to society, all of which have made him an iconic figure in both business and philanthropy.
In this StartupTalky story, let us learn about Narayana Murthy's success story, life history, personal life, education, philanthropy, controversies attached to him, and more.
Narayana Murthy Biography
| Name | Nagavara Ramarao Narayana Murthy |
|---|---|
| Birthplace | Mysore, Karnataka |
| Born | August 20, 1946 |
| Nationality | Indian |
| Education | M.Tech, Computer Science, IIT Kanpur |
| Position | Co-founder, Infosys Technologies Ltd. |
| Net worth | $4.2 billion |
| Spouse | Sudha Murthy |
| Children | Akshata Murty and Rohan Murty |
Narayana Murthy - Early Life
Narayana Murthy - Career
Narayana Murthy - Infosys
Narayana Murthy - Personal life
Narayana Murthy - Investments
Narayana Murthy - Philanthropy
Narayana Murthy - Controversies
Narayana Murthy - Awards and Recognitions
Narayana Murthy - Early Life
Born in Sidlaghatta, a town in the Mysore region of Karnataka, Mr. Narayana Murthy hails from a humble Kannada family belonging to the middle class. His educational journey began with his schooling, and after completing his early education, he chose to pursue his undergraduate studies at the prestigious National Institute of Engineering, where he specialized in Electrical Engineering and finished his graduation in the year 1967.
Aspiring for further specialization, Mr. Murthy's quest for knowledge led him to seek further academic excellence. In 1969, he made his way to the esteemed Indian Institute of Technology (IIT) Kanpur, where he delved deeper into his chosen field of study and earned a Master's degree in 1969, solidifying his commitment to advancing his knowledge and skills in electrical engineering.
Sarika Anand
Narayana Murthy - Career
After finishing his education, Narayana Murthy kicked off his career as a Research Associate at IIM Ahmedabad. His journey in the professional world was like climbing a ladder, and he soon became the Chief Systems Programmer at IIM.
At this point, he was part of a groundbreaking project to develop India's very first time-sharing computer system.
Alongside all this, he also had a side project where he and his colleague, Prof. Rama Rao created a BASIC interpreter for the Electronics Corporation of India Ltd.
However, deep inside, there was a fiery desire to leap into entrepreneurship. This led him to start his own company called Softronics. Unfortunately, Softronics didn't find the success he'd hoped for, and he had to close it down after just a year and a half.
But Murthy was not one to give up. In 1977, he joined Patni Computers in Pune as a General Manager. It was during this time that he started cooking up a plan for something big.
In 1981, with the help of six fellow software professionals - Nandan M Nilekani, S Gopalakrishnan, S D Shibulal, K Dinesh, NS Raghavan, and Ashok Arora - he founded Infosys. Interestingly, he borrowed ₹10,000 from his wife, Sudha Murthy, to get the ball rolling. Today, Infosys is a household name in the tech world, with Sudha Murthy herself making a significant impact as the chairperson of the Infosys Foundation.
Purbalee Dutta
Narayana Murthy - Infosys
In its initial stages, Infosys faced many challenges and downturns as its joint venture with Kurt Salmon Associates fell apart in 1989.
But later, in the early 1990s, Infosys, under Narayana Murthy's leadership, saw remarkable growth as India embraced economic liberalization. The company expanded its services globally, providing consulting, software development, and engineering services to overseas businesses. Infosys made history in 1999 by becoming the first Indian company to be listed on the American stock exchange NASDAQ.
In 2004, Infosys achieved a stunning 33% increase in annual revenues, reaching $1.06 billion despite a global IT industry downturn. However, the company faced criticism in the United States due to concerns about job losses from offshoring.
But, this controversy didn't significantly impact Infosys's business.
In 2006, Narayana Murthy retired from the services of the company as he turned 60 & he was appointed as the Additional Director. By 2010, the company had crossed the $5 billion revenue mark. Murthy retired from Infosys in 2011 and he was given the title Chairman Emeritus. Again in 2013, the Board appointed Murthy as the Executive Chairman of the board.
In the subsequent years, Infosys saw a huge growth curve earning many accolades to its name like being enlisted at number 3 in the Forbes World’s Best Regarded Companies in 2019.
In 2023, Infosys was recognized as one of the world’s most Ethical companies (2023) for the 3rd consecutive year by Ethisphere.
Narayana Murthy - Personal life
Narayana Murthy is married to Sudha Murthy, who is an educator, author, and philanthropist. Sudha Murthy is also the chairperson of the Infosys Foundation. They have two children, a son named Rohan Murty and a daughter named Akshata Murty.
Rohan Murty is a junior fellow at the Harvard Society of Fellows, founder of the Murty Classical Library of India, and founder and chief technical officer of the digital transformation company Soroco,
In 2009, Akshata got married to British politician Rishi Sunak, who requires no introduction. Rishi Sunak who served as a Member of Parliament, eventually, became the Prime Minister of the United Kingdom.
Narayana Murthy is a reading enthusiast and he believes that a greater impact on society can be made through politics.
Manav Makhija
Narayana Murthy - Investments
Narayana Murthy has made some significant investments:
| Announced Date | Organization Name | Lead Investor | Funding Round | Money Raised |
|---|---|---|---|---|
| July 11, 2017 | ThePrint | No | Venture Round | ₹450 million |
| June 12, 2017 | Coverfox Insurance | - | Series-C | $22 million |
| May 23, 2017 | Acko | Yes | Seed Round | $30 million |
Narayana Murthy - Philanthropy
"The real power of money is in giving it away" is one of his famous sayings, philanthropy is Murthy's other passion. Narayana Murthy's contribution to society includes creating jobs through Infosys, promoting ethical business practices, and supporting education and rural development through the Infosys Foundation.
- The James C. Morgan Global Humanitarian Award, which honors those who use technology to improve the lives of others, was given to Narayana Murthy.
- He is part of the boards of the Ford Foundation, the UN Foundation, and the Indo-British Partnership, and serves as a trustee for the Infosys prize and the Rhodes Trust.
- He also leads the governing board of the Public Health Foundation of India.
- TIME magazine recognized him as an Asian hero for his significant contributions to the continent over the past 60 years.
- Through Infosys Foundation, Murthy actively contributed to philanthropy in education, healthcare, and rural development.
Narayana Murthy - Controversies
A year ago in 2023, Narayana Murthy sparked a big debate across India by suggesting that millennials should follow a 70-hour workweek for better productivity and a brighter future. His opinion got mixed reactions. Most professionals from software and other fields disagreed, saying it would harm their mental and physical health. However, some who value strong work ethics supported his idea.
Narayan Murthy sparked another controversy with his comment about a '70-hour workweek,' which faced strong criticism. Speaking at the CNBC Global Leadership Summit 2024, he said, "I don’t believe in work-life balance."
Narayana Murthy also expressed regret about India switching from a six-day to a five-day workweek.
“We need to work hard in this country. There’s no substitute for hard work. Even the smartest person has to put in the effort. I stand by my views and always will,” he said.
Sharing lessons from his own life, he mentioned working up to 14 hours a day, six and a half days a week, during his career. “I’m very proud of it,” he added.
Narayana Murthy - Awards and Recognitions
Narayana Murthy has been awarded with various accolades. Here are some prominent awards and recognitions for him:
- Narayana Murthy was named as one of the “Stars of Asia” by The Business Week for three consecutive years (1998–2000)
- He was Fortune magazine’s 2003 Asian Businessman of the Year
- Murthy received two honors in 2001: The Max Schmidheiny Freedom Prize from the University of St. Gallen and the Wharton Dean's Medal from the University of Pennsylvania
- The Ernst Weber Managerial Leadership Award was given to him in 2007
- The Indian government bestowed the Padma Vibhushan upon him in 2008
- He was given the Woodrow Wilson Award for Corporate Citizenship in 2009
- In addition, he was also honored with the Hoover Medal in 2012
- He won The Thomas Jefferson Foundation Medal in 2017 and The Founder's Medal in 2018
Did Narayana Murthy Have A Plan B? Did Infosys Co-Founder Feel Like It Wouldn't Work?
FAQs
Who is Narayana Murthy?
Narayana Murthy is the founder of Infosys, a global IT company, and a pioneer in India's tech industry.
Who is the owner of Infosys?
N.R. Narayana Murthy, Nilekani, S. Gopalakrishnan, S.D. Shibulal, K. Dinesh, N.S. Raghavan and Ashok Arora are the co-founders of Infosys.
What is the education of Narayana Murthy?
Narayana Murthy did his graduation from the National Institute of Engineering in 1967 and he got his Master's degree from IIT Kanpur in 1969.
Must have tools for startups - Recommended by StartupTalky
- Convert Visitors into Leads- SeizeLead
- Manage your business smoothly- Google Workspace
- International Money transfer- XE Money Transfer
