End of body shopping boom in the name of Indian software - Infosys Technologies'' Chairman N.R. Narayana Murthy stepped down
Harish Baliga
Aug. 20, 2006

The outsourcing of software from India - a name used by American and European companies to buy cheap Indian software programming talent at heavy discount is finally coming to an end as these Western companies lose their pricing powers and start cutting back on Indian revenue streams.

According to media reports, Infosys Technologies'' Chairman N.R. Narayana Murthy stepped down on Sunday after 25 years at the helm of the firm he co-founded with six other software engineers and built into India's second-largest software company.

The partners started Infosys in 1981 with $250, mainly borrowed from the spouses of the founders. Riding a global outsourcing boom, it has grown into an international company with annual revenues of more than $2 billion and market capitalisation of $21 billion.

Murthy, who reached the company's retirement age of 60 on Sunday, will continue as non-executive chairman and mentor.

"It's not easy to be away from something that you put heart and soul for the last 25 years and for which almost 24 hours a day you lived for in that sense," soft-spoken Murthy said.


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