V Balakrishnan, former chief financial officer of India's second-largest software services exporter Infosys, has dabbled into politics by joining the Aam Aadmi Party (AAP) led by Delhi's new chief minister Arvind Kejriwal, media reports said.
“Yes I have become the member of AAP and have got the confirmation today,” Balakrishnan told the Press Trust of India on Thursday.
Balakrishnan told the Business Standard that the party is the best startup founded by any IITian ever which has led to a revolution in the country.
Balakrishan, a charted accountant by training, said that he has not met Kejriwal -- a former tax official -- yet, but expects to meet him soon. He also termed some of the pre-poll promises made by AAP realistic, saying that Kejriwal's solutions like strengthening the basic fabric of the economy by widening the tax collection and stopping evasion and improving revenue base are quite simple.
"If you take any political party in this country today, everybody is trying to be more socialistic. You can’t change that because in this country you have more poor and you have to take care of them…But at the same time, if there is an honest government, you can improve tax collection. Generally, if you can improve tax collection by increasing efficiency and honesty, probably you can afford some of these (social promises)," he told the paper.
Balakrishnan had joined Infosys in 1991. He played a key role in the company's Indian IPO in 1993 as well as its first overseas listing in 1999. He also closely supervised the three sponsored secondary offerings by Infosys, including two public offerings without listing in Japan. Balakrishnan was also a key member of the team which led the company's first acquisition in Australia.
Soon after his exit from Infosys, Balakrishnan launched Exfinity Fund with a corpus Rs 125 crore ($20.28 million), along with several other IT professionals including Girish Paranjpe (former Wipro co-CEO), Deepak Ghaisas (earlier CEO of i-flex Solutions), Mohandas Pai (former Infosys director and now with Manipal Global Education). Balakrishnan has personal investment in Unitus Seed Fund as well.
(Edited by Joby Puthuparampil Johnson)