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NRN not perturbed by Rupee-Dollar appreciation

Written by: Staff
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Chennai, July 13: Infosys Chief Mentor N R Narayana Murthy today said he was not worried about the Rupee-Dollar appreciation as it was a macro economic issue.

Talking to mediapersons here, he said ''I don't worry about the Rupee-Dollar appreciation, which is out of my control. It is a macro economic issue, which is not a matter of great concern.'' Mr Murthy said India had to play a crucial role in doing away with poverty as it housed one fourth of the poverty-stricken people.

''If India can't win, the world can't,'' he added.

Quoting a survey on the low labour productivity in the country, he pointed out that according to ILO, India's labour production was just US Dollar 6,087 last year, while China and Indonesia had clocked US Dollar 9,842 and 9,622 respectively.

The IT czar opined that India could sustain up to eight per cent growth up to 2020, ''provided we cut humungous red tape''.

''Economic reforms had indeed created a strong middle class in the last 16 years,'' he said, adding that the flow of benefit was pretty uneven and there was a clear divide between urban and rural economy.

UNI

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