- Under Parekh, HDFC’s assets grew to Rs 7,08,845 cr
Just last weekend, Deepak Parekh was regaling Indian students at LSE with snapshots from his CA articleship days in mid-1960s London—“too broke to have any dates, I compensated by experimenting with a lot of new cuisine, mostly an array of animals, much to the horror of my mother!” Seeing how India was in such a brighter place these days, he wished he was “in his twenties again”. That touch of levity marked Parekh’s speech on whether India was a superpower in the making. It’s the kind of idea that gets floated all too easily, especially by those not privy to the long, exacting infrastructural work that went into getting India—or that part of it which counts in this reckoning—to even this point. Robust systems and institutions are a precondition before such an idea can fructify. Precisely the field in which Parekh earned his epaulettes.
After a good look early on at how top-notch...