Terming the government decision to demonetise Rs 500 and Rs 1,000 bank notes as a “good move”, IT czar N R Narayana Murthy today said one should be celebrating as the move would address issues like black money, corruption, and also promote digital economy.
“…I think it’s a good thing. It brings down black money, corruption….and in some form, it is an incentive for people to use the digital economy,” Murthy told reporters in response to a question on government’s decision to demonetise Rs 500 and Rs 1,000 currency notes.
“So, on all the three dimensions it’s a good move….I think we should all be celebrating,” he added.
Taking the nation by surprise, Prime Minister Narendra Modi on Tuesday had announced the demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight, making these currency papers invalid. PTI KSU RA KK BN JM 11102046
Not wishing to make any direct response to the question about possible impact on the Indian IT sector with Donald Trump’s election as the next President of the United States, Murthy exuded confidence about the leaders of the industry to overcome challenges.
“You can use innovation and be prepared to find the alternative solution, should such an eventuality come into play…have confidence in Indian industry leaders…”Murthy said in response to a question.
He said “I’m not saying this will not happen or this will happen. All that I’m saying is the leaders of our Industry are smart people, they will find appropriate solution, and the country and the industry will continue to go from strength to strength.”
Trump, during his campaign, had advocated tightening of visa norms for skilled workers and bringing jobs back to America.
There has been feeling that Trump coming to power could lead to job losses for Indians and a protectionist approach by the US, a market that accounts for about 70 per cent of the Indian IT industry revenue.
Just a day ahead of the elections he had accused US tech giant IBM of laying off 500 workers in Minneapolis and shifting their jobs to India and other countries as he warned of levying a 35 per cent tax on companies doing so if he is elected.
“I’m very very confident that we will find solution. God is not finished with us. These are all smart people, they will all find good solution,” Murthy said.
Murthy had yesterday said that the US had a chance to create history by electing Hillary Clinton but added that Trump will do what is best for his country.