Jul 01, 2013 09:52 PM IST | Source: CNBC-TV18

Encouraging SMEs is important, says Infy's Murthy

SME sector has the potential to add significant value to India's economy as it happens in developed nations. Therefore encouraging SME sector is a very important activity, says Narayana Murthy.

NR Narayana Murthy, executive chairman, Infosys is of the belief that just as in developed economies, the small and medium enterprises sector (SME) has a potential to add significant value to India’s economy too. Therefore, encouraging SME sector is an important activity he adds, in an interview to CNBC-TV18.

He congratulated CNBC-TV18 for its Emerging India Awards which encourage and recognise performers in the SME sector.

Below are excerpts of his conversation with CNBC-TV18's Kritika Saxena

Q: What is the importance of the SME sector?

A: The SME sector has the potential to add significant value to India's economy as it happens in developed nations. Therefore encouraging SME sector is a very important activity. I congratulate CNBC on their initiative. It already has shown lot of promise and therefore I congratulate them.

Also Read: How social enterprises are making products affordable

Q: The economy at this point is at a volatile space. What is your view going forward, by when do you think the economy could see some kind of recovery?

A: That is for the Chief Economic Advisor and the Finance Minister to answer. Sitting from where I do, I don’t get a view of the macro economy therefore I won’t be in a position to answer.

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