The Forum of Free Enterprise is a non-political organization founded in 1956 by A. D. Shroff has been established to educate public opinion in India on free enterprise and a democratic way of life. The Forum publishes booklets to further its objects. The following booklet titled ‘The Changing Focus of Industrial Finance’ is a book form of a lecture delivered by Mr Siddharth A Mehta a former Chairman and Managing Director of ICICI on the auspices of the A.D Shroff Memorial Trust in Bombay. The booklet was published on 26th May 1981.
The booklet illustrates the role of Financial Institutions at the national, state and regional level in providing financial assistance in the form of loans and equity shares to industries of all size and the agricultural sector respectively. Mr Mehta affirms the importance of effective resource utilisation in maximizing productivity through channelising future investment. Talking about the present situation, he addresses the changing focus on the corporate sector from being an institution providing cost-effective goods and services to its consumers to imposing mandatory social-political objectives on them. Moving towards improving the status quo, Mr Mehta recommends the government to build physical and social infrastructure in backward areas, invest in heavy industries with managerial autonomy, reduction in taxes and reinstating the role of profitability in guiding resource allocation and economic activity.