Infosys Chairman N R Narayana Murthy and its CEO Nandan Nilekani have been named as Asia's Businessmen of the Year 2003 by international business magazine Fortune.
Narayana Murthy and Nilekani are the sixth recipients of the award and this is the first time that Fortune has named two individuals as Asia's Businessmen of the Year, said Robert Friedman, international editor, Fortune, in a press release.
"The partnership of Murthy and Nilekani have made a remarkable impact on Asian business, pioneering a powerful business model that taps into India's pool of inexpensive English-speaking engineers to deliver quality information technology services and transforming the country into a global player in IT industry," it said.
What makes Infosys stand out is also its remarkable standards of corporate governance and the company may be the only corporation in the world to publish its financial statements in accordance with the accounting standards of eight countries -- Australia, Britain, Canada, France, Germany India, Japan and US, it said.
Fortune said in 2002 the company turned the global technology downturn to their advantage by playing to their strength as a low-cost alternative and while other companies were downsizing, Infosys increased recruitment and launched aggressive overseas sales and marketing activities.