Delivering his address at the inaugural of the one-day Stanford-India development conference organised at the Infosys campus on the city's outskirts, Murthy said though Prime Minister Manmohan Singh had stated the need for FDI inflows of USD 150 million, his personal assessment was that the requirement was three times as much.
He said there was a need for improving infrastructure and reducing the "supply chain" time of moving goods faster in airports and seaports.
"Let me tell you that there is no hope for India to make a name in the international market if goods get stuck in ports and it takes longer time to travel in the country," he said.
Yale University professor and economist T N Srinivasan said the urgent requirement was to invest on an "urgent basis" huge amounts in improving the infrastructure in the country.
"Poor infrastructure is a reflection of the poor investment climate," he said in his address on 'Indian economy's progress.'
Srinivasan was critical of parking huge foreign exchange reserves in US dollar bills and US treasury by India, which helped bridge the US current account deficit. "It is surprising that a developing country like India has current account surplus," he said.
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