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Indian Council for Research on International Economic Relations Annual Report 2018-19 Annual Report 2018-19 Indian Council for Research on International Economic Relations ICRIER Table of Contents Foreword by Chairperson ................................................................................................... 7 Board of Governors.............................................................................................................. 9 Management Committees ................................................................................................. 10 Founder Members and Life Members ........................................................................... 11 Director’s Report ................................................................................................................ 12 Research Activities ............................................................................................................. 17 Conferences ........................................................................................................................ 63 Seminars & Discussions ................................................................................................... 71 Workshops ........................................................................................................................... 87 Special Dialogues ............................................................................................................... 89 Books & Reports Releases ................................................................................................ 99 Publications ....................................................................................................................... 107 Books 108 Reports 109 Working Papers 111 Acknowledgements ....................................................................................................... 113 ICRIER Team .................................................................................................................... 114 Faculty Activities .............................................................................................................. 117 Audited Annual Accounts .............................................................................................. 141 ICRIER Donors ................................................................................................................ 160 About ICRIER ................................................................................................................... 161 Foreword by Chairperson agenda when India assumes the presidency of the G20 in 2022. The Annual G20 Conference organised by ICRIER is now firmly established and a widely anticipated event in our calendar. ICRIER has been approached by the Saudi Secretariat to identify the key challenges likely to be faced by G20 members in the coming years. Saudi Arabia assumes the Presidency of the G20 in 2020. ICRIER was invited by the Department of Commerce to prepare a road map for the Regional Comprehensive Economic Partnership (RCEP) trade agreement expected to conclude this year. We submitted a report after widespread consultations with all stakeholders. In the area of climate change he year 2018-19 has been another productive negotiations, ICRIER was tasked by the Ministry of year at ICRIER. The Indian economy is Finance to estimate the cost of meeting the ambitious Tbecoming increasingly integrated with the Nationally Determined Contribution (NDC) targets rest of the world. Transmission of global shocks, made by India under the Paris Climate agreement therefore, is immediate and sustained, making for a of 2015. A draft report has been submitted to the challenging and more complex policy environment. government. At the same time, India is now looking to play a bigger and more influential role in shaping the Research at ICRIER on the Indian economy global economic discourse. branched out into some new areas. We prepared studies for the Fifteenth Finance Commission on A number of research studies were conducted for different aspects of municipal finances and also an the Department of Economic Affairs, Ministry of analysis of development expenditures in the states Finance, under the UK-India Economic Policy and after the Fourteenth Finance Commission Award. In Prosperity Partnership (EPPP) programme. These telecommunications, ICRIER signed an agreement studies provided inputs for India’s engagement with the Department of Telecommunications (DoT) during the G20 meetings in Osaka on a wide range to prepare a Broadband Readiness Index (BRI) of topics under the Finance and Sherpa tracks, that will rank Indian states on the quantity and including tax challenges in the digital economy, quality of the underlying broadband infrastructure, women empowerment through digitised means of including the enabling policy environment. The financial inclusion, infrastructure for development BRIs will be published for three years beginning and the future of work. More research is being in 2019 to energise the spirit of competition to commissioned and the ultimate aim is to identify spur underperforming states to emulate the better themes of national interest that can form the core performing ones. 7 Annual Report 2018-19 ICRIER has completed a study on India-Myanmar These donors are: State Bank of India, ICICI border trade that highlights the impediments to Bank, Kotak Mahindra Bank, Fortis/Religare, formal trade across the land border and suggests Bharti Enterprises, Trident Group, Jamnalal Bajaj measures to facilitate the formalisation of the Foundation, Bajaj Auto, ITC, Essar, Financial pervasive informal trade. A comprehensive study Technologies, DLF, GMR, Max Financial Services is being conducted of the infrastructure gaps at all Ltd., Pirojsha Godrej Foundation, Reliance land customs stations and integrated check posts Industries Limited, Tata Sons (P) Ltd., Nandan in the eight north-eastern states of India. This is and Rohini Nilekani, Rohan Murthy and Kiran also one of the key objectives of the National Trade Mazumdar-Shaw. Facilitation Action Plan. Our high rank among Indian and global think tanks Research on agriculture remains a key thrust area is a matter of great pride. ICRIER continues to be at ICRIER. The book, Supporting Indian Farms the among the top Indian think tanks in the world. In Smart Way was released by the late Shri Arun the 2018 Global Go to Think Tank Index Report brought Jaitley, Hon’ble Union Minister of Finance. ICRIER out by the University of Pennsylvania, ICRIER partnered with OECD to prepare another report, ranked number one in ‘International Economics Review of Agricultural Policies in India, which provides in India’ and also number one in ‘International a comprehensive picture of agricultural support in Development in India’. Globally, ICRIER ranks the country and has been widely acclaimed. fifteenth in ‘International Economics’. Indeed, true to its founding vision, ICRIER remains committed The bilateral policy dialogues included the 3rd India- to fostering and facilitating research in critical areas China Dialogue focusing on finance, energy, climate of contemporary and emerging issues of policy change and growth, held in Beijing from 21-24 relevance for India and its engagement with the March 2019 and the 9th ICRIER-PRI workshop on global economy. Economic Reforms in India: Opportunities for Enhancing India-Japan Economic Partnership held in New Delhi I am happy to note that ICRIER is successfully on March 8, 2019. Later this year, we will host the adapting to new challenges and harnessing 21st Annual Neemrana conference, a signature event opportunities in our fast changing economy and in ICRIER’s calendar of policy-focused interactions the global economic environment. I am confident between India and the United States. we will continue to strive for excellence. I take this opportunity to thank all stakeholders for the I am delighted that ICRIER’s new green building enormous trust and confidence reposed in our work. in Saket is now complete and functioning as the research hub. The spacious accommodation pleasantly balances the twin needs of proximity and privacy for the faculty and will also allow ICRIER to expand its research activities. This would not have Isher Judge Ahluwalia been possible without the generous support of our Chairperson, ICRIER donors and I take this opportunity to convey our heartfelt gratitude to each one of them. 8 Annual Report 2018-19 Management Committees Executive-cum-Finance Committee Dr. Isher Judge Ahluwalia : Chairperson Mr. Nitin Desai : 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 Dr. Rajat Kathuria : Member-Secretary Building Advisory Committee Dr. Isher Judge Ahluwalia : Chairperson Mr. Nitin Desai : 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 28. Mr. Shivshankar Menon 2. Dr. Jagdish Bhagwati 2. Dr. Isher Judge Ahluwalia 29. Mr. Rakesh Bharti Mittal 3. Mr. K. K. Bhargava 3. Mr. Mukesh D. Ambani 30. Dr. Rakesh Mohan 4. Mr. I. S. Chadha 4. Mr. J. S. Baijal 31. Mr. Pawan Munjal 5. Mr. K. L. Dalal 5. Mr. Jagmohan Lal Bajaj 32. Mr. N. R. Narayana Murthy 6. Mr. B. S. Das 6. Dr. Surjit S. Bhalla 33. Dr. Arvind Panagariya 7. Mr. Ashok
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