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Sanjay Suri India Abroad Correspondent in London
India has at least a five-year advantage over China in the world of software development, Infosys Chairman and Chief Executive Officer N R Narayana Murthy said at a meeting on Indian software in London on Tuesday.
New developments in the Indian software business are set to keep India well ahead of competition as Indian products enter the 'next orbit', Narayana Murthy said at the meeting on 'The Indian IT Model - How Good In Today's Economic Climate'.
The meeting was organised by the Confederation of British Industry along with the Confederation of Indian Industries.
Indian companies are moving quickly into the world of system integration and solutions, Narayana Murthy said.
He said the software business will grow at 35 to 40 percent even in this less than favourable economic climate.
"The Indian IT systems are based on the concept of globalisation and they will continue to grow if not at astronomic rates then at a highly appreciable rate," he said.
Narayana Murthy defined globalisation as "sourcing capital from where it is cheapest, producing where it is most cost effective and selling where it is most profitable - all without consideration of national boundaries."
This is, he added, 'easier said than done'.
But he said that for a country to succeed in this kind of globalisation 'it must have something unique it brings to the market place'. He added every nation must create competitive advantages.
Narayana Murthy listed India's strengths to delegates from a wide range of British companies. The prime advantage of India, he said, was its large numbers of well-trained manpower.
"In the present context that advantage has not gone away, and the Indian government is working to enhance that advantage," he said.
Narayana Murthy also said software factories in India give much better value for money and adapt well to change.
What India has to offer is unique products for companies that will have to be unique, Narayana Murthy said.
"Even if there is just one standard package of software left, there will still have to be customisation as different from customer application," Narayana Murthy said.
Every company will need to put a new and unique face over packages that may become standard, he said. "As long as companies want to be unique, there will be considerable opportunity for Indian companies."
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