Investments by Indian corporates in information technology have not posted an increase during the last couple of years, with 40 per cent of total proposed projects being cancelled before implementation, according to Infosys Ltd Chairman and Chief Mentor N R Narayana Murthy.
"Even though project proposals are on the rise, the actual implementation is yet to take place, with the IT investment track record stagnating in the country," Murthy told newspersons in Mumbai on Friday.
Understanding of IT investments by senior management and using IT for better functionality would result in Indian corporates increasingly moving over to IT-based platforms, he said.
"IT should be viewed as an enabler," he said.
Providing incentives to employees and appreciating the role of technology in garnering return on investments, apart from leaders 'walking the talk' are necessary to further IT investments by companies in the country, he said.
"The presence of multinationals in the country, thanks to globalisation has increased the pressure on Indian companies, and they now need to have a global mindset to beat competition," he said.
On Indian companies concentrating on the Indian market, Murthy said the country is to witness this trend 'sooner or later,' as the domestic market would emerge as lucrative as the offshore market.
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