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Nilekani sees silver lining in Satyam fallout
January 22, 2009 16:59 IST
With the Rs 7,800-crore (Rs 78 billion) fraud at Satyam [Get Quote] Computer leaving India's IT sector gasping for breath, Infosys [Get Quote] chairman Nandan Nilekani sees the fiasco as a blessing in disguise, as it will make authorities enforce better regulations and auditing mechanisms for the industry.
"A large part of my book is about avoiding negative things that are happening in the western countries and about how India should chart its own way to development learning from their mistakes," he said, adding it was important to strike a right balance between the two set-ups.
The Infosys chief also pointed out at the change in India's collective attitude towards technology in the last three decades to the present state where a complete "democratisation of technology" has taken place in the country.
Nilekani, who has advocated a massive overhaul of the education system in his book, said the fact that more than a quarter of people were still left out of the development process makes the need to revamp education all the more clear.
"All founders of Infosys come from a background of middle class non-business families. We could make it big because we had access to education, but this is not true of a large section of people in India."
Noting that reforms are about taking the process of development to lower sections, he also faulted the Indian middle class for maintaining a silence on issues of public importance.
"Middle class has detached itself from the troubles of this developing country. They have their water supplies, they used generators in times of power cuts, the only thing they complain about are the roads because there is no escape to that," he said.
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