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 ‘Indian Capital Market- Past, Present and Future’ is a book form of a lecture delivered by Mr H. T Parekh, on the auspices of the A.D Shroff Memorial Trust in Bombay. The booklet was published on 10th June 1975.

The booklet is about the dynamic structure of the capital market as a financial instrument before independence, during independence and the post-independence period. The growth of stocks and shares lead to the formation of the Industrial Finance Corporation of India. However, during 1955-72, the Indian capital market had insufficient capital for industrial development especially after the nationalisation of financial institutions like LIC, Reserve Bank of India, IFCI and UTI. Talking about the future, the lecture proclaims the role of entrepreneurs in advancing technology instead of a deficient government monopoly on industrial policy hindering the flow of capital in the market. Mr Parekh recommends a reduction in the interest rate pattern and offering public subscription in PSUs to mobilise savings and investment.