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ICRIER Indian Council for Research on International Economic Relations Annual Report 2015-2016 Table of Contents Foreword by the Chairperson 07 Board of Governors 08 Management Committees 10 Founder Members and Life Members 11 Director’s Report 12 Research Activities 17 Seminars 61 Lectures 69 Conferences 75 Workshops 85 Special Dialogues 93 Books/Reports Releases 103 International Networking 112 Publications 113 114 Books Reports 115 Working Papers/Policy Papers 117 Acknowledgement 120 ICRIER Team 121 Faculty Activities 124 Audited Annual Accounts 143 ICRIER Donors 153 About ICRIER 154 Foreword by the Chairperson Isher Judge Ahluwalia Chairperson, ICRIER The Annual Report for 2015-16 documents ICRIER’s A major highlight of the year was the 6th K. B. Lall Memorial activities in the year just gone by. It has been a year of Lecture which was delivered by Dr. Raghuram Rajan, solid achievements both academically and in policy Governor, Reserve Bank of India, to a packed audience recommendations. It is a matter of deep satisfaction that of senior policy makers, academics, and representatives the University of Pennsylvania, in its Go To Think Tank of the corporate sector, civil society and the media. I am report, continues to rank ICRIER as the highest rated very happy to note that on this occasion, we were able to Indian Think Tank with respect to impact on public policy. announce the launch of a three-year research programme Our international ranking in this category improved from on global competitiveness with financial support from 37 in 2014 to 31 in 2015. Dr. Rajiv Lall and the IDFC Foundation. ICRIER has also received an endowment grant from Mr. Shardul Shroff to The demand for evidence based policy research is set up the Suresh and Bharti Shroff Chair on Urbanisation increasing all over the world as governments recognise in memory of his parents. that they must supplement expertise available within the governmental system with research conducted ICRIER’s new Green building in the Saket Institutional outside. This is also evident in India and it opens up Area is nearing completion and we hope to have it ready further opportunities for a think tank like ICRIER to in the course of the next few months. It will provide scope make substantive contributions to the policy making for ICRIER to accommodate its expanding footprint in process. ICRIER’s research agenda is well crafted to do research activity. so as we are working on all the critical areas that are of great relevance today. Our research programme, as I compliment Dr. Rajat Kathuria, Director and Chief elaborated in the Director’s report, covers a number Executive, ICRIER who has expanded the scope and of new areas that are growing in importance in India’s quantum of research at ICRIER and also successfully current stage of development, e.g. global competitiveness engaged high quality senior research faculty in spanning of Indian agriculture, employment and skill development, important new areas of policy significance. I have no challenges of urbanisation, and climate change. We seek to doubt that research and policy advice would continue to provide high quality research on issues of contemporary thrive at ICRIER in the years to come. policy interest. We also focus on issues that will loom large in future, even if their importance is not adequately recognised today. Isher Judge Ahluwalia Chairperson, ICRIER | 7 | Annual Report 2015-2016 Board of Governors Chairperson Dr. Isher Judge Ahluwalia Mr. Nandan M. Nilekani W-36, Greater Kailash-I Former Chairman New Delhi-110 048 Unique Identification Authority of India House No. 856, 13 Main, Third Block, Kore Mangla Bengaluru-560 034 Elected Members Mr. Malvinder Mohan Singh Mr. Tarun Das Group Chairman Founding Trustee, Ananta Aspen Centre Religare & Fortis Healthcare Limited, 102-B, Beverly Park-I, 1, South End Lane, New Delhi-110 011 Mehrauli Gurgaon Road, Gurgaon-122 009 Mr. N. K. Singh Ms. Janaki Kathpalia Former Member of Parliament (Rajya Sabha) Former Additional Secretary F-9/1, Poori Marg, Vasant Vihar (Office) Ministry of Finance New Delhi-110 057 Government of India D-935, New Friends Colony, New Delhi-110 065 Co-opted Members Dr. Vijay Laxman Kelkar Non-Executive Chairman Mr. Kunal Bahl National Stock Exchange of India Ltd. Founder & CEO, Snapdeal.com A-701, Blossom Boulevard, Plot No. 421, 363, Udyog Vihar-IV South Main Road, Koregaon Park, Pune-411 001 ASF Centre, Tower A, Ground Floor Gurgaon-122 015 Ms. Chanda Kochhar Managing Director & Chief Executive Officer Mr. Pramod Bhasin ICICI Bank Ltd. Founder, Genpact India ICICI Bank Tower, Bandra-Kurla Complex F-35, Radhe Mohan Drive Mumbai-400 051 Gadaipur, New Delhi-110 030 Mr. Uday S. Kotak Mr. Nitin Desai Vice Chairman & Managing Director Honorary Professor, ICRIER & Chairman, Kotak Mahindra Bank Ltd. Institute of Economic Growth Bakhtawar, 2nd Floor, 229, Nariman Point B-63, 1st Floor, Defence Colony, New Delhi-110 024 Mumbai-400 021 Dr. Rohan Murty Mr. Anand G. Mahindra Founder, Murty Classical Library of India Chairman & Managing Director 703, 47th A Cross Mahindra & Mahindra Ltd. 9th Main Road, Jayanagar 5th Block, Gateway Building, Apollo Bunder, Mumbai-400 001 Bengaluru-560 041 | 8 | Overseas Member Dr. Kiran Mazumdar Shaw Lord Nicholas Stern Chairman & Managing Director IG Patel Chair and Director Biocon Ltd. LSE Asia Research Centre 20th KM, Hosur Road, Electronics City London, United Kingdom Bengaluru-560 100 Mr. Ashok Jha Member-Secretary Former Finance Secretary Ministry of Finance, Government of India Dr. Rajat Kathuria D-6/24, 2nd Floor, Vasant Vihar, Director & Chief Executive, ICRIER New Delhi-110 057 Core 6-A, 4th Floor, India Habitat Centre, Lodhi Road, New Delhi-110 003 | 9 | Annual Report 2015-2016 Management Committees Executive-cum-Finance Committee Dr. Isher Judge Ahluwalia : Chairperson Mr. N. K. Singh : Member Ms. Janaki Kathpalia : Member Mr. Tarun Das : Member Dr. Rajat Kathuria : Member-Secretary Investment Committee Mr. Uday S. Kotak : Chairperson Ms. Janaki Kathpalia : Member Ms. Chanda Kochhar : Member Dr. Rajat Kathuria : Member-Secretary Establishment Sub-Committee Mr. N. K. Singh : Chairperson Ms. Janaki Kathpalia : Member Dr. Rajat Kathuria : Member-Secretary Building Advisory Committee Dr. Isher Judge Ahluwalia : Chairperson Mr. Nitin Desai : Member Mr. N. K. Singh : Member Ms. Janaki Kathpalia : Member Mr. Tarun Das : Member Mr. Pramod Bhasin : Member Dr. Rajat Kathuria : Member-Secretary | 10 | Founder Members and Life Members Founder Members* Life Members 1. Dr. Montek Singh Ahluwalia 1. Dr. Shankar Acharya 31. Mr. Pawan Munjal 2. Dr. Jagdish Bhagwati 2. Dr. Isher Judge Ahluwalia 32. Mr. N. R. Narayana Murthy 3. Mr. K. K. Bhargava 3. Mr. Mukesh D. Ambani 33. Dr. Arvind Panagariya 4. Mr. I. S. Chadha 4. Mr. J. S. Baijal 34. Dr. Kirit S. Parikh 5. Mr. K. L. Dalal 5. Mr. Jagmohan Lal Bajaj 35. Dr. Swati A. Piramal 6. Mr. B. S. Das 6. Dr. Surjit S. Bhalla 36. Mr. S. Ramadorai 7. Mr. Ashok V. Desai 7. Mr. Y. C. Deveshwar 37. Mr. N. Ravi 8. Mr. Nitin Desai 8. Mr. Jamshyd Godrej 38. Dr. Y. V. Reddy 9. Mr. M. Dubey 9. Mr. Rajinder Gupta 39. Mr. Shyam Saran 10. Dr. S. P. Gupta 10. Ms. Lalita D. Gupte 40. Mr. Parth J. Shah 11. Mr. R. M. Honavar 11. Mr. Anwarul Hoda 41. Mr. Ajit Seth 12. Mr. S. V. S. Juneja 12. Dr. Bimal Jalan 42. Mr. Prakash Shah 13. Mrs. Anna R. Malhotra 13. Mr. Rakesh Kacker 43. Dr. Kiran Mazumdar Shaw 14. Dr. Suman K. Modwel 14. Mr. K. V. Kamath 44. Mr. N. K. Singh 15. Mr. P. K. Nanda 15. Dr. Vijay Kelkar 45. Mr. Surendra Singh 16. Mr. N. C. B. Nath 16. Mr. Rajeev Kher 46. Mr. Pramath Sinha 17. Mr. P. C. Nayak 17. Dr. Rahul Khullar 47. Dr. T. N. Srinivasan 18. Dr. Deepak Nayyar 18. Ms. Naina Lal Kidwai 48. Lord Nicholas Stern 19. Dr. V. R. Panchamukhi 19. Mr. Uday S. Kotak 49. Mr. C. M. Vasudev 20. Mr. Vijay G. Pande 20. Dr. Rajiv Kumar 21. Mr. R. D. Pradhan 21. Mr. Darshan Lal 22. Mr. Vinay Bharat Ram 22. Dr. Deepak Lal 23. Mr. S. S. Ramphal 23. Dr. Rajiv B. Lall 24. Dr. C. Rangarajan 24. Mr. Arun Maira 25. Mr. S. S. Rao 25. Mr. Raghunandan D. Maluste 26. Dr. Manmohan Singh 26. Dr. R. A. Mashelkar 27. Mr. R. V. Subrahmanian 27. Mr. Aman Mehta 28. Dr. M. S. Swaminathan 28. Mr. Shivshankar Menon 29. Mr. T. K. N. Unnithan 29. Mr. Rakesh Bharti Mittal 30. Dr. Charan D. Wadhva 30. Dr. Rakesh Mohan * Late Founder Members Mr. Malcolm S. Adiseshiah, Mr. M. C. Bhatt, Mr. Brij Bhushan, Dr. Sukhamoy Chakravorty, Mr. Khub Chand, Mr. B. K. Chatterjee, Dr. R. J. Chelliah, Mr. P. K. Dave, Professor P. N. Dhar, Mr. R. S. Gae, Mr. B. D. Jayal, Mr. L. K. Jha, Mr. P. K. Kaul, Dr. A. M. Khusro, Dr. Rajni Kothari, Mr. Raj Krishna, Mr. Lovraj Kumar, Mr. Suresh Kumar, Dr. K. B. Lall, Mr. Sanjaya Lall, Mr. R. N. Malhotra, Mr. S. S. Marathe, Mr. Govind Narain, Mr. Fredie A. Mehta, Mr. B. K. Nehru, Mr. I. G. 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  • Research & Publications

    Research & Publications

    ISSN 2320 –2114 Research & Publications Annual Report 2019–2020 Research and Publications Team Prof. Jishnu Hazra Chairperson, Research and Publications Members of Research and Publications Committee Prof. Jishnu Hazra Prof. Mukta Kulkarni Prof. Pulak Ghosh Prof. Chetan Subramanian Prof. Prithwiraj Mukherjee Prof. Abhinav Anand Prof. Gopal Das Research and Publications Team Nirmala Manoj Project Executive Chitralekha A D Copy Editor I Strategy (S) RESEARCH AND PUBLICATIONS ANNUAL REPORT 2020 (April 2019 – March 2020) Strategy (S) Strategy 1 Contents Preface 3 Research Output 4 IIMB Cases at Harvard Business Publishing (HBP) 6 Leading Journal Publications 8 Awards, Honours, and Achievements 10 Area-wise Publications and Research Output I Strategy (S) 11 II Economics and Social Sciences (ESS) 35 III Finance and Accounting (F&A) 60 IV Marketing (M) 78 V Organisational Behaviour & Human Resource Management 87 (OB&HRM) VI Productions and Operations Management (P&OM) 106 VII Decision Sciences (DS) 119 VIII Information Systems (IS) 134 IX Centre for Public Policy (CPP) 139 X Entrepreneurship 158 XI Centre for Corporate and Governance and Citizenship (CCGC) 164 XII Data Centre and Analytics Lab (DCAL) 166 XIII Supply Chain Management Centre (SCMC) 175 XIV Centre for Teaching and Learning (CTL) 181 XV Israel Centre (IC) 183 XVI India Japan Study Centre (IJSC) 187 XVII IIMB Research Seminar Series 189 Contents Author Index 196 2 Preface IMB’s vision and mission entail thought leadership, innovation and I excellence in education. The faculty at IIMB engages in original academic research and in developing case studies to expand the frontiers of knowledge and evolve tools for an enriching classroom experience.