Known to speak his mind on various issues, Parekh emphasised that focus should be more on learning than on "a results-oriented education".
"The end objective of education is not merely accumulation of knowledge in a bucket," he said.
Observing that many parents today push their kids for marks in the belief that it is what schooling is all about, the eminent industry leader said character is defined by home-spun virtues like honesty and compassion.
"We see a growing tribe of countries, including advanced countries being increasingly intolerant and suspicious of outsiders, turning protectionist and wanting to put up barriers and restricting free movement of people.
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"This is far removed from a more integrated and globalised world we had envisaged," he said.
Speaking at the inauguration of the senior wing of The HDFC School at Gurugram on April 1, Parekh said rapidly evolving technologies such as artificial intelligence and advanced robotics would transform lives and future learners would be able to survive by making the suitable transition.
Further, Parekh said the future is about transiting from 'survival of the fittest' to 'survival of the most adaptable', adding that "the only way we can future proof ourselves is to have the mindset of being a life-long learner".
HDFC School is part of financial conglomerate HDFC group.
Parekh opined that asking a child what he or she would like to be when they grow up is perhaps the most redundant question today.