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People who treated me unfairly, that’s their issue, not mine, says Rajat Gupta


GURUGRAM: Rajat Gupta thinks the good fortune story that is India Inc has plenty more left to run. “We should not relaxation on our laurels,” he told an audience accumulated at The Circle, a city co-working house.
His fall from grace can have been spectacular however Gupta, now 70, is eager to move on, without any regrets.

The India-born former Goldman Sachs director served 19 months in a US jail for insider buying and selling and was once released in 2016.

Gupta was once found responsible in 2012 of passing confidential boardroom information about Goldman Sachs to the then hedge fund manager and founder of the Galleon Group, Raj Rajaratnam.

Gupta, also the former managing director of control consultancy company McKinsey & Company, was once in town to discuss the lessons learnt in prison, and to percentage a few home truths about India.

“They all the time wanted to kill your spirit, which they did through sending you to solitary confinement for random issues,” recalled Gupta of his time as an inmate.

Despite an revel in he describes as “horrible”, he refuses to present in to bitterness and anger, and is keen to forgive.

“You can’t keep an eye on what happens to you however you can keep an eye on the way you react to it. People who handled me unfairly, that’s their factor, not mine.”

Initially determined to testify at his trial, Gupta admits he succumbed to fear.

“I had wanted to narrate my facet of the story, however my lawyers mentioned that I shouldn’t — this, I found, was once in most cases the advice which lawyers in the USA would give their purchasers,” he mentioned.

“Then, I noticed the prosecutors spin a story which wasn’t accurate. They have been repeating untruths, inundating the jury with details that had no relevance to the case. “I felt demoralised and defeated through the lawsuits — not that the end result would have been different had I testified.”

That’s all up to now. The long term, for Gupta, might contain a bit of angel making an investment. He is all praise for the “extraordinary” entrepreneurial power of the startups here, an power he thinks is innate in Indians.

“But for all of the ability we've got, we haven’t been ready to create as much IP (highbrow belongings) as we should have,” he believes.

“We’re nice at IT services however we haven’t created a Google or a Sapient — there hasn’t been a in point of fact world logo that has come out of India. But some of it is starting to happen – that revolution is just beginning.”


Still, this kind of revolution gained’t happen without Indians aiming for academic excellence. Because, in spite of their eminence, the nation’s peak institutes fi-gure nowhere within the world ratings.


“None of our IITs and IIMs is on the planet top-100, which could be very sad,” Gupta rued. “The value that the IITs and IIMs should have added isn't as high as it could have been.”


Further, and more importantly, India will fight to grasp her potential, feels Gupta, without universal access to healthcare and schooling. To those ends, he is satisfied to contribute. And it’s much less about redemption, more to do with giving back.




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