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In 1990, there was an offer to buy us out for Rs 2 crore. Infosys has Rs 6.5 lakh crore m-cap now: NR Narayana Murthy on 1991 reforms

As India marks 30 years of economic liberalisation on July 24, Infosys founder NR Narayana Murthy spoke to Moneycontrol on how the context of 1991 changed the aspirations of Infosys in one go

July 21, 2021 / 01:49 PM IST

There was an offer to buy out Infosys for a paltry sum of Rs 2 crore in 1990. NR Narayana Murthy didn't want to sell and offered to buy out his co-founders. They decided to stay on. Today, Infosys is India's second largest software exporter, with a market capitalisation of over Rs 6.5 lakh crore.

It's a feat that would have been impossible without the determination of its founders and the economic reforms of 1991, which liberated companies such as Infosys to find its place in the market, as it did not have to lean on the government or the Reserve Bank of India (RBI) for permissions to travel abroad, import computers and had the freedom to devise an employee stock option plan that would spawn hundreds of dollar and tens of thousands of rupee millionaires.

As India marks 30 years of liberalisation on July 24, Infosys founder NR Narayana Murthy spoke to Moneycontrol on how the context of 1991 changed the aspirations of Infosys in one go and the next wave of reforms that can help galvanise India.

WATCH | It took us 3 years, 50 visits to Delhi to import a computer. Magic wand of 1991 reforms liberated Infosys: NR Narayana Murthy