'Emulate IT success to ensure spread of wealth'

Mysore, July 30: Union Finance Minister P Chidambaram today urged various sectors of the economy to replicate the success India achieved in information technology to enable spread of wealth across the nation, encashing on the treasure trove of knowledge the country possessed.

Inaugurating the silver jubilee celebrations of software major Infosys here, he said the knowledge power of the country could be triggered only by eradicating poverty, improving health conditions and providing education to the people of the country as India over the next 25 years would produce the highest number of working people in the world. Every Indian must have education, he stressed.

Mr Chidambaram said the success of IT could be extended to other businesses and India be made a giant manufacturer of steel, automobiles and a major refiner in the world.

He said the State had a role to play in this -- that of an enabler. The State should provide opportunity and encourage people to contribute to the knowledge society.

Mr Chidambaram said India should emerge a major knowledge power in the world so that, like Indians who settle abroad, people from other parts of the world should look at India as a destination which they could try (for employment/investment). He said India missed out on the industrial revolution as it was under colonial rule. It started late in the software sector, but had caught up with the rest of the world and emerged as the best.

Quoting Infosys CEO Nandan M Nilekani's words, he said ''IBM is a legacy, Infosys is the future''. What was happening in India was a revolution. In ten years, India would have the largest employer in the industry.

The Minister complimented Infosys for the mighty strides it had taken during the last 25 years and wanted Infoscions to create more such institutions in the country.

Karnataka Chief Minister H D Kumaraswamy said Infosys had emerged as a legend, transcending barriers of name and recognition and had become an internationally recognised name for success, innovation and humility. The contribution of IT sector had made Indian arriving at any destination being seen as a knowledge sector professional.

He said many Western companies were diffident of approaching Infosys for their work because they see Infosys as a discriminating contractor who did not accept any and every project. ''This is a tribute to the reputation that has been built by Infosys''.

Stating that returns would not accrue without risks, he expressed hope that more entrepreneurs would take the route taken by companies such as Infosys.

UNI