India needs to find a balance between remaining competitive and being financially secure and stable in a troubled economic climate, Infosys' Chief Mentor, N R Narayana Murthy said here today.
The Indian corporate sector has been extremely fortunate in escaping the worst of the global financial crisis. While America and other western countries posted sluggish growth rates and witnessed spiraling unemployment, India's economy grew 6.8 per cent during the financial quarter in June, up from 5.8 per cent in the previous quarter, Murthy told reporters on the sidelines of an industry conference.
"Despite the relative health of the Indian economy, we should be mindful of the fact that the danger of an economic downturn in India has not yet passed and situation could change rapidly," Murthy said.
"We must be alert and careful to temper our optimism with realism," the Infosys founder said.
Indian companies function in a highly competitive environment which demands keeping operational costs down.
"Our ability to deliver high-quality products at a fraction of the prevailing cost has become an integral part of our success in recent years, and anything that jeopardises that objective places our future growth at risk," Murthy said.
In current economic scenario, Indian firms are also operating in an environment that is resource-scarce.
"While India has a reasonable level of resource availability, there is a limit to how long we can tap these resources before exhausting them. What is more, we cannot stake our productivity on continued investment in new resources," Murthy said.
