Crisis a win-win situation for Indian IT: Kamath

Infosys chairman K V Kamath on Thursday said that turbulence in global markets is likely to provide a 'win-win opportunity' for Indian IT players, since clients would be looking more at operational efficiency and productivity gains.

"The reason is that turbulence in our customer markets would mean our customers would seek even greater operational efficiency and productivity gains," Kamath told PTI in an interview.

"If Indian knowledge sector players can prove that they can partner in these areas, and deliver value, a win-win opportunity develops. I am reasonably sure this is going to happen," he said.

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A renowned banker, Kamath took over as Infosys chairman in August from N R Narayana Murthy, the company co-founder. Infosys is the country's second largest software exporter.

Amid turmoil in global markets, especially Europe and the US, there are concerns that the $60 billion-IT industry could be adversely impacted.

Kamath also said that his background does not matter at the IT company given his governance oversight role, but acknowledged that he does have a unique insight into driving technology.

Asked how he saw the new assignment coming as he did from outside the company, Kamath, who is also non-executive chairman of ICICI Bank, said if one looked at the role (governance oversight), then it does not matter what would have been his background.

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"As it happens having been at the centre stage in driving technology in ICICI Bank through a period when large-scale disruption of technology was taking place, gives one a rather unique insight," he told PTI in an exclusive interview.

Kamath heaped praise on his predecessor. "Murthy is someone who has written a new chapter in Indian business. He proved that a professional team, driven by passion can create enormous value for all stake holders while upholding the highest standards of governance," he said.

"My role would be to take this forward. I do recoginse that this is an enormous shift that is taking place, a transition after almost thirty years of iconic leadership."

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The legacy of Murthy is that he has left behind a value system that he created and nurtured throughout the organisation. "This in addition to all else that he did, such as empower people, motivate them, create a process driven company which can replicate and scale its business model."

Murthy also taught the organisation to be nimble, proactive and constantly scan the environment to seek out and implement strategies which could disrupt existing paradigms, thereby creating value both for customers and Infosys, according to Kamath.

He also echoed the sentiments of Murthy, who in his farewell speech had pitched for measuring of performance at the individual level, over the team one.

"Performance level has indeed to be measured at the individual level in addition to the team level. Without doing this, the measurement of performance, the feedback loop, and raising the bar for all would probably not be possible. This is how true meritocracies would work," Kamath observed.