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Mizzima: 'Asia, an innovator in the



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           `Asia, an innovator in the Global Technical Arena'

Bangalore, March 12, 2001
Mizzima News Group (www.mizzima.com)

Asia has been an innovator in the Global Technical Arena was the
unanimous opinion of the panelists at a Session on ?Asia: Innovator or
Follower in the Global Technical Arena? during the 12th Asia Society
Conference on Asia' s Technology Future: Transforming Business,
organized by the Asia Society, Confederation of Indian Industry and Dow
Jones in Bangalore, Karnataka State of India today.

Mr N R Narayana Murthy, Chairman & CEO, Infosys Technologies Limited,
while defining innovation as introducing something new or different,
emphasised that there was no doubt at all that Asia had shown the
innovative spirit. He cited the instance of Japan which has been a
leader in miniaturisation of electronics and optics; Singapore which had
become a model in creating an electronic island; and Taiwan and South
Korea which had become leaders in memory technologies.

In this regard, Mr Murthy also spoke about the Indian software industry
with its 24-hour productive day and Global Delivery Model.

Mr Vijay Mallya, Gorup Chairman. The UB Group, said that innovation
leads to the fast mover advantage, which leads to successes. The end
objective of innovation, he said, is business success measured in terms
of bottomline and profitability. Mr Mallya too cited Japan, which had
showed the world how to make innovations profitable.

Though the new economy did not begin in Asia, Asia had given it a new
dimension, he said. Mr Mallya underlined the importance of the
information technology sector and said that though there is a downturn
in the IT sector, which is synonymous with any business cycle,  no
successful business can do without IT.

Within Asia, India has done a tremendous job in the information
technology sector. Mr Mallya stated that though we have been a poor
country, economic poverty did not mean poor education.

According to Mr W Bowman Cutter, Managing Director, Warburg Pincus, Asia
had a strong foundation in innovational leadership. However,
innovational leadership alone may not transform economies as much as
broad and deep utilization. He said that Asia needs a model for
innovational leadership with a working public structure that needs to
continuously invest, a major corporate enterprise and strong
entrepreneurial and venture capital.

Mr Cutter said that innovation is a business system and a market-based
phenomenon and therefore, though Asia has the leadership ingredients, it
needs to develop its financial markets, product market, centers of
thought, civil society and Pan Asian integration. In the long term, real
benefits will accrue through innovational processes, which in turn will
result in higher productivity and more and better jobs.



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<center><b><font color="#0000FF"><font size=+2>`Asia, an innovator in the
Global Technical Arena'</font></font></b></center>

<p><font color="#CC0000"><font size=+1>Bangalore, March 12, 2001</font></font>
<br><font color="#CC0000"><font size=+1>Mizzima News Group (<a href="http://www.mizzima.com";>www.mizzima.com</a>)</font></font>
<p><font size=+1>Asia has been an innovator in the Global Technical Arena
was the unanimous opinion of the panelists at a Session on ?Asia: Innovator
or Follower in the Global Technical Arena? during the 12th Asia Society
Conference on Asia' s Technology Future: Transforming Business, organized
by the Asia Society, Confederation of Indian Industry and Dow Jones in
Bangalore, Karnataka State of India today.</font>
<p><font size=+1>Mr N R Narayana Murthy, Chairman &amp; CEO, Infosys Technologies
Limited, while defining innovation as introducing something new or different,
emphasised that there was no doubt at all that Asia had shown the innovative
spirit. He cited the instance of Japan which has been a leader in miniaturisation
of electronics and optics; Singapore which had become a model in creating
an electronic island; and Taiwan and South Korea which had become leaders
in memory technologies.</font>
<p><font size=+1>In this regard, Mr Murthy also spoke about the Indian
software industry with its 24-hour productive day and Global Delivery Model.</font>
<p><font size=+1>Mr Vijay Mallya, Gorup Chairman. The UB Group, said that
innovation leads to the fast mover advantage, which leads to successes.
The end objective of innovation, he said, is business success measured
in terms of bottomline and profitability. Mr Mallya too cited Japan, which
had showed the world how to make innovations profitable.</font>
<p><font size=+1>Though the new economy did not begin in Asia, Asia had
given it a new dimension, he said. Mr Mallya underlined the importance
of the information technology sector and said that though there is a downturn
in the IT sector, which is synonymous with any business cycle,&nbsp; no
successful business can do without IT.</font>
<p><font size=+1>Within Asia, India has done a tremendous job in the information
technology sector. Mr Mallya stated that though we have been a poor country,
economic poverty did not mean poor education.</font>
<p><font size=+1>According to Mr W Bowman Cutter, Managing Director, Warburg
Pincus, Asia had a strong foundation in innovational leadership. However,
innovational leadership alone may not transform economies as much as broad
and deep utilization. He said that Asia needs a model for innovational
leadership with a working public structure that needs to continuously invest,
a major corporate enterprise and strong entrepreneurial and venture capital.</font>
<p><font size=+1>Mr Cutter said that innovation is a business system and
a market-based phenomenon and therefore, though Asia has the leadership
ingredients, it needs to develop its financial markets, product market,
centers of thought, civil society and Pan Asian integration. In the long
term, real benefits will accrue through innovational processes, which in
turn will result in higher productivity and more and better jobs.</font>
<p>&nbsp;</html>

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