Arvind Panagariya

Arvind Panagariya

Professor of Economics, SIPA, Columbia University

Arvind Panagariya is Professor of Economics and the Jagdish Bhagwati Professor of Indian Political Economy at Columbia University. His research interests include International trade policy, economic development, and economic reforms with focus on India. From January 2015 to August 2017, he served as the first vice-chairman of the NITI Aayog, Government of India in the rank of a Cabinet minister. During these years, he also served as India’s G20 Sherpa and led the Indian teams that negotiated the G20 Communiques during the presidencies of Turkey (2015), China (2016) and Germany (2017). In March 2012, the Indian government honoured Professor Panagariya with Padma Bhusan, the third highest civilian honors the country bestows in any field.

Professor Panagariya is a former chief economist of the Asian Development Bank and was on the faculty of the Department of Economics at the University of Maryland at College Park from 1978 to 2003. He is the author of more than fifteen books including India: The Emerging Giant (2008) which was listed as a top pick of 2008 by The Economist and described as the “definitive book on the Indian economy” by Fareed Zakaria of the CNN. The Economist has described his book, Why Growth Matters (2013), co-written with Jagdish Bhagwati, as “a manifesto for policymakers and analysts.” Scientific papers by Professor Panagariya have appeared in the top economics journals such as the American Economic Review, Quarterly Journal of Economics, Review of Economic Studies and International Economic Review while policy papers by him have appeared in the Foreign Affairs and Foreign Policy.

The Gateway of India in Mumbai, India, on 7 January 2023. (Dhiraj Singh/Bloomberg)

India could drive the next big change in the global economy, just as China did

India holds the prospect of driving the biggest change in the global economy in the next quarter century just as China did in the previous one, says economic professor Arvind Panagariya. India has several factors in its favour, but it must also push ahead with its reform agenda and open its economy wider to friendly countries through free trade agreements to make the best of its time in the sun.