N.R. Narayana Murthy, Co-Founder of Infosys and a prominent figure in the Indian entrepreneurial landscape, opened up about a significant change in his perspective over the years in an exclusive interview with CNBC-TV18. The discussion touched upon his journey in entrepreneurship, sacrifices made, and reflections on personal regrets.
During the interview, Murthy emphasised the importance of having a lofty and noble dream, such as demonstrating that anyone, irrespective of connections or familial wealth, could start and run a successful company.
“My desire was to conduct an experiment in entrepreneurship. And to me, that was a very noble objective, just to demonstrate to people in India that you do not have to have connections with the government; you do not have to be the son or daughter of a rich person to start a company.”
“As Abraham Lincoln defined US democracy, you can create a company of the professional, for the professional, and by the professional. So, that was the noble objective, the noble dream that I had. So when you have a lofty dream, when you are focusing on that lofty dream, the rest of it becomes easier to handle. The rest of it, in some way, gets blurred,” he added.
However, the most intriguing revelation came when Murthy discussed the sacrifices he made, particularly being away from his family. He recounted a decision not to renew a contract with a Fortune 10 company "for a certain reason," a move that faced resistance from colleagues. Murthy revealed that he was going to be away for around 250 days in a year for three years.
“Even though I knew that I was away from (the) children most of the time — for example, when I took that tough decision not to renew the contract with the Fortune 10 company, all (of them), Nandan Nilekani, everybody was against (the decision). Phaneesh Murthy was extremely angry with me. But I (did it) for a certain reason. I have (sic) to redeem my flat... Now, that was the noble objective that I had.”
“Therefore, when you have a super objective, when you have a noble objective, at least according to me, somebody else may not think so, it doesn't matter; the rest of the day-to-day difficulties, in some way, get blurred.”
Despite the challenges, he highlighted the significance of having a partner who understood his desires and was willing to make sacrifices and work hard.
A supportive partner & the importance of sharing
“I had an extraordinary partner who supported me fully. I still remember those days; there was no mobile phone in May 1995 when I took the decision with the Fortune 10 company. The person I called was Sudha because all the other guys were on that side. And I told her. She said, ‘Don't worry, go ahead, do whatever brings you happiness, whatever brings you joy, and I will continue to look after the children.’ So, I had a partner who understood my desire and a partner who was willing to make whatever sacrifices and whatever hard work was required.”
While reflecting on his journey, Murthy emphasised the need for entrepreneurs to convince their partners about the importance of their mission for the country, family, and the future. Positioning the entrepreneurial journey as something noble and lofty, he stressed the importance of gaining the complete buy-in of one's partner.
“Therefore, my advice to entrepreneurs is to first convince their partner that whatever journey they are going to take is very important for the country, for their family, for the future of the children, and all of that. In other words, position it as something noble, something lofty, and get his or her complete buy-in, and then I personally feel that, like it happened in my case, the partners will be fully with you.”
The conversation also touched upon Murthy's unique approach to sharing equity. He mentioned sharing equity in a way that was unprecedented globally, with a significant amount of equity parted with over an extended period.
“A few years ago, probably 25 years ago, when we went to the Bangalore Club for becoming members as a company, the president of the Bangalore club said, 'Look, I find one thing very strange with you people.’ I said, ‘What is it?’ He said, ‘You are Mr Murthy, you are 10 or 11 years older than all the other people, and you are taking the same salary as all others. We have never come across another instance in the entire Bangalore Club history where somebody with the managing director’s (status), somebody who was 10-11 years older than others taking the same salary’,” he recalls.
When asked about his biggest regret, Murthy candidly admitted that he could have been a better father. He credited his wife, Sudha, for filling that void. Despite being tough with colleagues, Murthy clarified that his intentions were never to take advantage or benefit personally. He expressed his unwavering commitment to making India look good and ensuring the success of Infosys.
The children
In addition to Murthy's insights, it's worth mentioning that his children, Akshata Narayana Murty and Rohan Narayana Murty, have made notable contributions in their respective fields.
Akshata Narayana Murty, a multifaceted professional, excels as a businesswoman, fashion designer, and venture capitalist. She is married to Rishi Sunak, the Prime Minister of the United Kingdom and Leader of the Conservative Party. As of 2023, they hold the 275th rank for the richest people in Britain, with a combined wealth of £529 million (US$645 million).
Akshata holds a 0.93% stake in Infosys along with shares in several other British businesses, including two of Jamie Oliver's restaurant businesses, Wendy's in India, and Koro Kids.
Rohan Narayana Murty is a computer scientist and the founder and CEO of Soroco, a digital transformation company that uses artificial intelligence to automate processes.
In 2011, he received a PhD in computer engineering from Harvard University. Apart from being the founder and chief technical officer of Soroco, Rohan is also a junior fellow at the Harvard Society of Fellows and the founder of the Murty Classical Library of India.
