Can-do spirit essential for revival of economy: Narayana Murthy

The can-do spirit is essential for the revival of the Indian economy, according to N.R. Narayana Murthy, Executive Chairman of Infosys.

He was speaking after inaugurating the rebuilt premises of the Primacy Industries Ltd, the manufacturer and exporter of scented candles, in Mangalore on Wednesday evening.

The factory, which was gutted in January 2013, has started operation in its re-built premises.

Highlighting the example of Primacy Industries Ltd in rebuilding the factory after a fire accident last year, he said this is a great example for the society, workers, corporate leaders and the governments.

“Because, this can-do spirit is what is needed to revive our economy which is in doldrums,” he said, adding that every one in the country should demonstrate this can-do spirit, if the country wants to see back the days of 9 per cent GDP growth and remove poverty from the country.

Stating that a plausible impossibility is better than the convincing possibility, he said bringing the factory back to life is a great achievement.

The concern of management team for the families of the workers, for the future of their children, and for the growth of the exports from the country is highly laudable, he said.

Murthy said that every paisa counts at time where current account deficit is running amok. “That is where we must be grateful to their (company’s) US partners and customers for their support,” he said, adding that 99.75 per cent of the output of Primacy Industries is absorbed in the US market.

Referring to the employment opportunities given by the manufacturer to the local people, he said the only way society can solve the problem of poverty is through the creation of jobs.

M. Narendra, Chairman and Managing Director of Indian Overseas Bank, was the guest of honour on the occasion.

V.K. Thalithaya, President of Primacy Industries, welcomed the gathering. Gautham Pai, Chairman of the company, spoke on the occasion.

vinayak.aj@thehindu.co.in