What role did Government (of India) liberalization play in helping Infosys going global?
Shibulal: The government played a critical role and enabled IT companies such as Infosys to succeed. The liberalization of the Indian economy in 1991 changed the Indian business context to a free, open market orientation for hi-tech companies. It improved the velocity of decision-making by removing most of the licensing requirements and enabled us to easily access the capital markets, build infrastructure and compete successfully in the global market. The positive impact of liberalization can be seen in the significantly improved performance of software exports post 1991. Lokvani: More broadly speaking, do you think that globalization has been good for Infosys? On the whole, and in the long run, would you say globalization is good or bad for developing countries (like India)? Shibulal: Yes, Infosys in many ways is a child of globalization. Infosys has demonstrated that Indian companies can benefit from globalization. If you look at our revenues, over 95 percent of our revenues come fro
