Wipro Chairman Azim Premji who also spoke at the opening of the three-day summit said the current economic recession would be a period of “spring cleaning” where the good companies will emerge stronger.

“We are coming into a very interesting time. We are coming into restructuring of global economies. It’s not just a recession of global economies. I think we are seeing it happening also in India. You will see it intensifying as we go forward,” he said.

“Less successful companies will keep crying and crying and throw up their hands, blaming external people and ask government for aid,” he said.

The period however offers opportunities and will remove complacency from successful companies, he said.