Bangalore, Nov 5 (UNI) Infosys Chairman and IT Czar N R Narayana Murthy today said the victory of Barack Obama in the US Presidential elections showed meritocracy mattered the most.
''Today is an extraordinary day. The US has voted for compassionate capitalism over laissez faire capitalism.
''Besides, this election has shown that meritocracy matters most,'' Mr Murthy said.
In a statement here, he said he expected President-elect Obama to be a pragmatic leader who understood that American industry needed to be competitive not just in America but in third world countries as well.
''This election has also proved that the internet is a powerful medium for raising funds,'' Mr Murthy said.
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