India, however, would need to have leadership in every walk of life including business, economy, polictics, bureaucracy and acedemia to realise its vision to become a developed country and Indian leaders will have to walk the talk to demonstrate their commitment, he added.
Mr Murthy was delivering a keynote address on Enhancing Excellence at The Leadership Summit 2003 organised by Confederation of Indian Industry (CII) in New Delhi on Tuesday.
Mr Murthy said that India has emerged as the fourth largest economy of the world on a purchase price parity (PPP) basis. This is our chance to take the country in the league of developed nations and we can do it with leadership skills, he said.
He said that Indian industry as well as the Indian economy have performed quite well during the last few years despite turbulent economy conditions.
India has established itself as a most valued outsourcing destination. The Indian software industry accounts for 15 per cent of the globalised customised software market. While the software sector has grown by 45 per cent compounded average growth rate (CAGR) during 1999-2002, the housing sector has grown by 30 per cent last year and similarly construction industry has also grown by 40 per cent. National highway project and the initiative on electrcity bill are the indicators of the countrys progress towards improving its infrastructure. Talking about the Indian enterprenureship skills, Mr Murthy said that 18 per cent of the countrys workforce are engaged in some form of enterprenurial activities as againt the world average of seven per cent. Even in the US, only 10 per cent of the workforce are enterprenures while it is only two per cent in
Japan. But the question is: how do we enhance our excellence. India will have to take the leadership route in creating passion among people that is backed by conviction, ambition, commitment and a belief that one can change the world, he said, adding that everey person should focus on speed, imagination and excellence in execution.