Despite having an extraordinary Manmohan Singh at helm, India’s economic decision making was stalled: Narayana Murthy

IT czar and Infosys co-founder NR Narayana Murthy lamented on Friday that economic activities in India were frozen during the Congress-led UPA government, despite the fact that Manmohan Singh, a "exceptional Individual," was at the helm of affairs, according to news agency ANI.

Murthy made the statements during a discussion with young entrepreneurs and students at the Indian Institute of Management - Ahmedabad (IIMA). He also expressed faith in the youthful generation's ability to make India a viable competitor to its adversary China.

"I used to serve on the board of HSBC in London (between 2008 and 2012). In the early years, when China was addressed twice or three times in the board (during meetings), India's name was only mentioned once "stated the businessman on question of India’s future. 

He also likened the UPA government of Manmohan Singh to the current government, claiming that delays in making decisions harm the country's economy. He did, however, credit the former prime minister for the 1991 economic changes.

"I'm not sure what happened after that. During Manmohan Singh's administration, an excellent individual for whom I have enormous admiration, India stopped. Decisions were not made promptly, and everything was postponed. And by the time I left (HSBC), if China's name had been used 30 times, India's name had been spoken only once "Murthy remarked this during the discussion, according to ANI.

When questioned about his vision for India's future, Murthy stated, "It is the responsibility of the young generation to have people mention India's name anytime they mention any other country's name, notably China," and expressed confidence that the young generation will be able to accomplish so.

Murthy applauded the Narendra Modi-led government's 'Make in India' and 'Startup India' programmes, noting that there is now a "certain level of respect for the country."

"There was a time when most people in other countries looked down on India, but today, the country, which has now become the world's fifth-largest economy, is respected."