In the realm of Indian entrepreneurship, there are few names as illustrious and inspiring as Nagavara Ramarao Narayana Murthy, commonly known as Narayana Murthy or NRN Murthy. Born on August 20, 1946, in Mysore, Karnataka.
From his humble beginnings to co-founding one of India’s most renowned IT companies, Infosys, his life story is nothing short of remarkable.
In this blog, we delve into the origins of Narayana Murthy, the ideals that shaped his entrepreneurial journey, and the remarkable rise of Infosys in the era of Indian economic liberalization.
Origins of Narayana Murthy
Narayana Murthy’s educational journey laid the foundation for his future success. He earned his Bachelor’s degree in Electrical Engineering from the University of Mysore and further pursued his Master at the prestigious Indian Institute of Technology, Kanpur. Armed with knowledge and passion, Murthy was destined for greatness, but little did he know that his life would take a transformative turn during a fateful train journey.
Idealization of his entrepreneurial journey
In the early years of his life, Narayana Murthy held strong leftist values. However, his perspective underwent a profound shift during a life-altering experience in 1974. While on a train passing through Nis, a town bordering Serbia and Bulgaria, he encountered a French-speaking girl embroiled in a dispute with her accompanying boy, leading to police intervention.
Unexpectedly, Murthy found himself arrested by the Bulgarian police, who seized his passport and subjected him to harrowing conditions in a cell. After 72 grueling hours without food and drink, he was released, with the guards attributing their decision to India’s status as a friendly country. This ordeal transformed Murthy from a confused leftist to a determined and compassionate capitalist, leaving an indelible mark on his entrepreneurial journey.
The journey begins filled with obstacles:
Despite the adversities faced in Bulgaria, Narayana Murthy was determined to venture into entrepreneurship. He founded a company in Pune called Softronics, which aimed to be an IT firm serving the domestic market. However, fate had other plans, and Softronics closed down just 1.5 years after its inception, presenting Murthy with a significant setback on his entrepreneurial path.
Sudha Murthy’s Involvement in the Enterprise
Amidst the ups and downs of entrepreneurship, Narayana Murthy found love and support in Sudha Murthy, whom he was dating at the time. However, Sudha’s father was skeptical about Murthy’s entrepreneurial ambitions, preferring a stable job with a regular income for his daughter’s suitor. After Softronics’ closure, Murthy joined Patni Computer Systems as General Manager, a move that allowed him to marry Sudha Murthy in 1978.
The First Investment that changed it all!
Sudha’s unwavering belief in her husband’s dreams became the catalyst for a transformative moment in Narayana Murthy’s life. She provided him with Rs. 10,000 from her savings and three years to pursue his desire for entrepreneurship, assuring him that she would take care of the household responsibilities.
In January 1981, Murthy gathered six of his software engineering friends at his apartment, and together, they founded Infosys Consultants Pvt. Ltd. on July 2, 1981. This marked the beginning of a journey that would alter the landscape of the Indian IT industry.
Indian economy liberalization and the rise of Infosys
The early days of Infosys were challenging, but as India’s economy began to liberalize in the 1990s, the company’s fortunes took a sharp turn upward. Taking advantage of the opportunities presented by economic reforms, Infosys experienced exponential growth, achieving revenues of $100 million by 1999 and listing on Nasdaq the same year.
Today, Infosys stands as one of India’s largest IT companies, with over 2.5 lakh employees and revenues of $14 billion for the financial year 2020-21. This incredible success can be attributed to the perseverance, support, and visionary leadership of Narayana Murthy.
Conclusion:
The story of Narayana Murthy and Infosys is a testament to the power of determination, resilience, and the pursuit of a grand vision. From facing adversities to becoming a global IT giant, Murthy’s journey is an inspiration to aspiring entrepreneurs and individuals alike. It shows that with passion, support, and a commitment to excellence, anyone can transform their dreams into reality and leave an indelible mark on the world. The legacy of Narayana Murthy and Infosys will undoubtedly continue to influence and inspire generations to come.