Lack of deep due diligence led to huge losses in our startups: Narayana Murthy

Infosys founder N R Narayana Murthy on Friday said for some reason India has not developed a market estimation model. Addressing the Fortune India 40 under 40 event in Bengaluru Murthy said, "We do not have market research companies, which can go deep into the market, and give an estimate of the market opportunity with a very high level of confidence. With the result, starting from 1995, we have been overestimating the market. Quality in market research does not exist for whatever reason. The depth of due diligence has not been as good as one would want," Murthy said. He also said that this has led to huge losses in the start ups and has left the entrepreneurs, venture capitalists, and investors disappointed.