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Technology Stocks : Infosys Technologies Ltd. (Nasdaq:INFY)
INFY 17.82-1.2%Jan 9 9:30 AM EST

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To: Mohan Marette who wrote (1)2/20/2000 12:24:00 PM
From: Mohan Marette  Read Replies (1) of 29
 
US Treasury Secretary Mr.Summers speaks to INFY employees at company HQ.

Address given by Mr. Lawrence Summers , US Secretary of the Treasury, at the Corporate Headquarters of Infosys on

January 19, 2000

Secretary Summers:

I came here today to see the future -- to see the future in information technology because I have no doubt that, as industrial technology and production changed the economies of the 19th and 20th centuries, information technology will change the economy of the 21st century.

It is exciting to see the future of entrepreneurship because I think that if we have learned one important thing in the last two decades about economics and about economy, it is entrepreneurship -- that markets and successful competition make an enormous difference in people's lives. I know what a great difference this company is making. And above all, when I say that I can see the future here, what I mean is that I see a future in which there is a single global economy that is coming together, that is uniting all nations, not just a select few.

The success of Infosys is important for all of you who are fortunate enough to work here. But I believe it is important in a sense that goes far beyond that, because of what it means to show that a company in India can succeed and can compete in a cutting-edge, global 21st century industry. I congratulate you on your success in doing that.

President Clinton expects to visit India in the next several months. It may seem to you that his visit to India is overdue. Overdue because the United States and India have a natural affinity in the new century. A natural affinity because of the things that you represent: empowering the individual, developing technology so that it makes people's lives better, a democratic tradition and co-operation in the global economy. These are all the things that the United States' relationship with India will be all about, and these are all the things that President Clinton looks forward to seeing and discussing when he comes to India.

It is incumbent on all of us, and it is something we think a great deal about in the United States, to think about how some of these technologies, how all of this globalization, all of this coming together that is happening, all of this success of a market system, can translate into better lives for the people in all countries - and that is why I found it so impressive to have a chance to talk with your leader, Mr Murthy, about his vision, not just for this company, but his vision for your country.

My hope would be that all of us in the public and private sectors in the United States and in India could be always thinking very hard about how to do our jobs as well as we can. How we make this modern global economy that we are creating work for all the citizens of both countries. But I congratulate you on the future that you are creating. I assure you that the United States wants very much to be your partner and India's partner. I wish you all the very best and thank you very much for the opportunity that my colleagues and I have had during the visit to this remarkable establishment. It is, as I was told as I entered, really a modern-day temple.

Thank you very much.

inf.com
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