india-sits-on-human-capital-goldmine-says-parekh

India sits on human capital goldmine, says Parekh

Deepak Parekh, chairman of India's first housing finance company, HDFC, was the recipient of FinanceAsia's first Lifetime Achievement Award at our awards dinner on January 24. This is his keynote address.
Global markets have been fraught with uncertainty as the world ponders the fate of the US economy. A slowdown of the US economy was inevitable but the prolonged credit crunch, oil at over $100 per barrel and collapsing house prices have sent fresh fears as economists debate the dreaded ôR-wordö - will the US economy slip into a recession or manage to skid over

Clearly, there are tough times ahead and amidst pandemonium in the global markets, India demonstrated resilience in its ability to meet new global challenges. To my mind, three key events of last week best demonstrate this
- the overwhelming response to a mega IPO that re-affirmed investor confidence,
- IndiaÆs successful...
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