Board of Directors

Mr. Subhash Chandra Garg

Mr. Subhash Chandra Garg, Secretary, Department of Economic Affairs (DEA), Ministry of Finance has over 31 years of experience in administration, management and public policy, finance, agriculture, education, energy and rural development.

Mr. Garg has served as Director in the DEA and Joint Secretary in the Department of Expenditure, Ministry of Finance and in the State of Rajasthan in various capacities of Secretary (Expenditure), Secretary (Budget) and Principal Secretary of Finance. He has also occupied senior positions in the State Government of Rajasthan as well as in the Government of India. He holds degrees in Commerce, Accounts and Business Administration from the University of Rajasthan, Jaipur and is a qualified Company Secretary and Cost Accountant.


Mr. Rajaraman Kalyanaraman

Mr. K. Rajaraman, a senior Indian Administrative Service Officer of Tamil Nadu cadre, is a B. Tech in Electronics & Communications, a first-class MBA and Master of Economics.

Starting his career as a Design Engineer in BHEL, Trichy, during his rich and varied experience as an IAS Officer, he had held various administrative positions in the areas of Investment Promotion, Foreign Direct Investment, Public Sector Undertakings, Industrial Infrastructure, VAT Administration, etc. He was MD of Chennai Metro Railways for nearly 4 years during its early construction phase, Commissioner for Commercial Taxes in Government of Tamil Nadu and Joint Secretary Expenditure in Government of India in the recent past. He currently serves as Joint Secretary, Investment in the Department of Economic Affairs, Ministry of Finance.

He has published articles in Business Line on ‘Right to Information’ and ‘Energy conservation Policy’. He is a certified trainer in Incident Command System for Disaster Management and has served as a Disaster Rescue Team leader in Nagapattinam (Tsunami relief) and Kanchipuram (Floods 2015, 2016). His special interest is in the field of Right to Information, Industrial Policy and Investment Promotion, Human Development, Consumer Protection, Disaster Management, Urban Mobility and Entrepreneurship.


Mr. John Benedict McCarthy

Mr. John Benedict McCarthy has been the Global Head of Infrastructure, Real Estate and Infrastructure Department at Abu Dhabi Investment Authority (ADIA) since May 2013. He is responsible, in collaboration with senior management, for developing and implementing investment strategy for the infrastructure division and overseeing all day-to-day activities of the Infrastructure team at ADIA.

Mr. McCarthy previously served as a Managing Director and Global Head of RREEF Infrastructure at Deutsche Bank since 2005. Prior to that, he was Global Head of Infrastructure Capital and Structured Capital Markets at ABN Amro Bank. He has over 25 years of experience in the infrastructure sector starting in 1990 at BZW, where he rose to Head of Infrastructure. He holds a Post Graduate degree in Finance and a Bachelor of Economics, both from Monash University in Melbourne, Australia.


Mr. Deepak Parekh

Mr. Deepak Parekh is the Chairman of HDFC Limited, India’s leading housing finance company with presence across banking, asset management, life insurance, general insurance, real estate venture fund, education loans and education.

Mr. Parekh joined HDFC in 1978 and has been associated with the firm since then. He is on the board of several companies including Castrol India Limited, Fairfax India Holdings, Hindustan Unilever, Siemens Ltd, Mahindra & Mahindra, Indian Hotels Company and SingTel. He is on the Indian advisory boards of Coca Cola India, Boston Consultancy Group and Accenture India. He is also the Non-Executive Chairman of Glaxo India Ltd & Burroughs Wellcome.
Mr. Parekh has been a member of various Committees set up by the Government of India. He was appointed the Chairman of the high level expert committee formed to recommend measures for strengthening the Unit Scheme in 1964. The Reserve Bank of India appointed him Chairman of the Advisory Group for Securities Market Regulation, which was tasked to compare the level of adherence to international standards in India with that in other countries. He was also Chairman of the Expert Committee constituted by the Ministry of Power to look into the reform efforts in the power sector.

The Government of India honoured him with one of the highest civilian awards, the Padma Bhushan in 2006.
Before joining HDFC, he had worked for Ernst & Young, Grindlays Bank and Chase Manhattan Bank as its assistant representative for South Asia.

Mr. Parekh holds a Bachelors in Commerce from Sydenham College, Mumbai and is a Chartered Accountant.


Mr. Ishaat Hussain

Mr. Ishaat Hussain served as a Finance Director of Tata Sons Limited since July 28, 2000 and served as its Member of Group Executive Officers and Member of Group Corporate Centre until he retired from the Board of Tata Sons Ltd in Sept 2017. Tata Sons Ltd is the holding company of Tata Group which was established in 1868.

Mr. Hussain is an expert in Financial Management & overall Management and Operational Control and has vast experience in the areas of finance, banking, accounts, audit, taxation and general management. He has played a key role in steering the fortunes of companies as diverse as Tata Steel Ltd, Tata Consultancy Services Ltd, Voltas and Titan, as Senior Director on their boards. He has helped nurture many strong alliances in companies such as Tata Sky, Tata AIA Life Insurance and Tata AIG. Besides that, he has been on the Board of many Tata group companies who have been market leaders in their business segment.

Mr. Hussain has had the unique experience of working closely with four chairmen of the Tata Group over his long tenure of 36 years—J.R.D. Tata, Ratan Tata, Cyrus Mistry and now N. Chandrasekaran. For most of his distinguished career in Tata Sons, he was a key member of Mr. Ratan Tata’s core team, contributing actively to a long period of rapid and sustained growth. These were the two decades when the Tata Group successfully entered several new consumer businesses, made pioneering global forays, struck new alliances and, along the way, also listed its flagship business Tata Consultancy Services.

Mr. Hussain completed his schooling from the Doon School in 1963 and holds a B.A. (Economics) from St. Stephens College, Delhi and is a Chartered Accountant from England & Wales. He also attended the Advanced Management Program at the Harvard Business School.


Mr. Sujoy Bose

Mr. Sujoy Bose is the MD & CEO of NIIFL. He has a rich multinational working experience of 25 years in International Finance Corporation (IFC), occupying multiple senior management positions along the way. Prior to joining NIIF Limited, Mr. Bose was director and Global Co-Head, Infrastructure and Natural Resources at IFC. As Chief Investment Officer and Head, IFC African Latin American and Caribbean Fund, he has managed and led the USD 1 billion regional growth fund to selectively co-invest with IFC. He also headed IFC’s Mumbai office and was responsible for managing its growth, building a strong team of 40 investment professionals.

Mr. Bose has an MBA in Finance from Rice University (Houston, Texas) and is a B. Com graduate from St. Xavier’s College (Kolkata, India).