Asked how much India and its emerging market neighbours should be guided by Western financial models and conventions, Aditya Puri – who as managing director of HDFC heads one of the country’s biggest banking groups – does not take long to think. “That’s a simple one,” he laughs. “Not at all.”
It may be blunt, but it is an opinion that today is neither rare, nor especially controversial. It is, however, symptomatic of just how much prevailing wisdom has changed in recent years.
