India: An Agent of Change

That's how Infosys CEO Nandan Nilekani sees the country's impact on the U.S. economy, through globalization and outsourcing

While many U.S. tech companies are stuck in the slow-demand doldrums, India's Infosys Technologies (INFY ) is soaring. Revenues were up 42% last quarter. The reason: Infosys and its Indian brethren are rewriting the rules of global competition in the software and tech-services industries with their use of highly skilled but low-cost Indian talent.

As a member of a group of 10 Indian business leaders, Infosys Chief Executive Nandan M. Nilekani accompanied Indian Prime Minister Manmohan Singh during his state visit with President George W. Bush on July 18. Those business leaders make up the Indian contingent of a 20-person CEO Forum that has been set up to promote commerce and understanding between the two countries.

Nilekani stopped at BusinessWeek's New York offices on July 26 and spoke with writers and editors, including Senior Writer Steve Hamm. Edited excerpts of the interview follow:

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