Fortune names Narayana Murthy among greatest entrepreneurs

Infosys co-founder N R Narayana Murthy is among the 12 "greatest entrepreneurs of our time" according to a Fortue magazine list that is topped by Apple's late chief Steve Jobs.

The US publication said as the "visionary founder" of Infosys, Murthy has built "one of the largest companies in India, helping to transform that economy and put it on the world stage".

Murthy, 65, proved that "India could compete with the world by taking on the software development work that had long been the province of the West.

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"As one of six co-founders of Infosys and the CEO for 21 years, Murthy helped spark the outsourcing revolution that has brought billions of dollars in wealth  into the Indian economy and transformed his country into the world's back office," it said.

Fortune cited his lesson that an organisation starting from scratch must coalesce around a team of people with an enduring value system.

"It is all about sacrifice today, fulfilment tomorrow," it quotes Murthy, who is ranked 10th, as saying.

"It is all about sacrifice, hard work, lots of frustration, being away from your family, in the hope that someday you will get adequate returns from that."