Force for Good Chairman Ketan Patel talks to Keki Mistry, CEO, HDFC Ltd. at the UN World Investment Forum on:

1. The role of housing finance in driving mass inclusion and the SDGs
2. The importance of ethics and values in business
3. Lessons from the coronavirus pandemic

The discussion took place at the UN World Investment Forum, and it’s a high-level masterclass on how “capitalism with a conscience” works in practice.

Expanded Breakdown of the “Foundation of Dignity” with Ketan Patel & Keki Mistry

1. Housing as a Driver of Mass Inclusion (SDGs) Keki Mistry argues that a home is more than shelter; it is the primary asset for wealth creation in developing economies.

• The “Dignity” Link: By providing affordable housing finance, HDFC effectively moved millions into the formal economy, supporting SDG 11 (Sustainable Cities) and SDG 1 (No Poverty).
• Economic Multiplier: Mistry often highlights that housing has 200+ backward and forward linkages (cement, steel, labor), meaning “mass inclusion” in housing fuels the entire national GDP.

2. Ethics and Values in Business Ketan Patel pushes on how HDFC maintained its reputation for decades.

• The Takeaway: Mistry emphasizes that in finance, trust is the only currency. He discusses the “Force for Good” philosophy—that a corporation’s long-term survival is directly tied to its moral compass and how it treats its smallest stakeholders.

3. Lessons from the Pandemic Given the timing of the forum, they discuss the resilience of the financial system.

• Social Safety Nets: Mistry reflects on how the pandemic highlighted the need for digital-first financial inclusion. Those who had “dignified housing” and digital access to credit fared significantly better than those in the informal sector.

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