Annual Report 2016 -17 Indian Council for Research on International Economic Relations Annual Report 2016-17 Indian Council for Research on International Economic Relations ICRIER Table of Contents Foreword by Chairperson ................................................................................................... 7 Board of Governors.............................................................................................................. 8 Management Committees ................................................................................................... 9 Founder Members and Life Members ........................................................................... 10 Director’s Report ................................................................................................................ 11 Research Activities ............................................................................................................. 15 Seminars 65 Lectures & Talks 71 Conferences 75 Workshops 79 Special Dialogues 85 Books/Reports Releases 93 Publications ......................................................................................................................... 99 Books 100 Reports 101 Working Papers/Policy Briefs 103 Acknowledgements ....................................................................................................... 105 ICRIER Team .................................................................................................................... 106 Faculty Activities .............................................................................................................. 109 Audited Annual Accounts .............................................................................................. 133 ICRIER Donors ................................................................................................................ 145 About ICRIER ................................................................................................................... 146 Foreword by Chairperson to meet its development challenges, e.g., research on agriculture, urbanisation, climate change, employment and skill development. More specific areas of growing importance in which research is being directed include income inequality, urban governance, role of entrepreneurship in generating economic growth and role of water efficiency in sustainable agricultural growth. An important initiative this year was the first China- India dialogue, which was convened at Tsinghua University in Beijing on March 16-17, 2017. The second dialogue will take place in January 2018 in New Delhi, focusing on finance, energy, impact of climate change and South-South co-operation. he Annual Report for 2016-17 records ICRIER’s activities in the year gone by. By ICRIER’s new Green building in the Saket Tall accounts, it has been another productive Institutional Area is nearing completion and will and exciting year. Once again, the University of provide scope for ICRIER to accommodate its Pennsylvania in its 2016 edition of the Global Go to expanding imprint in research activity. This would Think Tank Index Report has ranked ICRIER in the top not have been possible without the generous support 3 among all think tanks in India. By category, ICRIER of donors. is the 1st in India and 25th globally for International Economics, 1st in India and 67th globally for Domestic I compliment Dr. Rajat Kathuria, Director and Chief Economic Policy, and 2nd in India and 46th globally Executive, ICRIER for ably guiding the research and for International Development. dissemination activities of ICRIER. I have no doubt that with support from our stakeholders, ICRIER True to its founding vision, ICRIER remains will continue to strive for excellence in policy- committed to fostering and facilitating research in oriented research of high quality and help influence critical areas of emerging and contemporary policy the discourse on India’s economic policy choices. relevance for India. Our research programme, as elaborated in the Director’s report, has broken new ground and brought evidence-based perspectives on some of the pressing issues in the current stage of India’s development. It covers several new areas that Isher Judge Ahluwalia are assuming importance in India’s renewed push Chairperson, ICRIER 7 Annual Report 2016-17 Board of Governors Chairperson Dr. Isher Judge Ahluwalia Dr. Kiran Mazumdar Shaw W-36, Greater Kailash - I Chairman & Managing Director, Biocon Ltd. New Delhi - 110 048 20th KM, Hosur Road, Electronics City Bengaluru - 560 100 Elected Members Mr. Malvinder Mohan Singh Mr. Pramod Bhasin Group Chairman Founder, Genpact India Religare & Fortis Healthcare Limited F-35, Radhe Mohan Drive 1, South End Lane, New Delhi - 110 011 Gadaipur, New Delhi - 110 030 Mr. N. K. Singh Mr. Tarun Das Former Member of Parliament (Rajya Sabha) 102-B, Beverly Park - I 18 Paschimi Marg, 1st Floor, Vasant Vihar Mehrauli Gurgaon Road New Delhi - 110 057 Gurugram - 122 009 Co-opted Members Mr. Nitin Desai Chairman, Institute of Economic Growth Mr. Kunal Bahl B-63, 1st Floor, Defence Colony Founder & CEO, Snapdeal.com New Delhi - 110 024 363, Udyog Vihar - IV ASF Centre, Tower A, Ground Floor Ms. Janaki Kathpalia Gurugram - 122 015 Former Additional Secretary Ministry of Finance, Government of India Dr. Rohan Murty D-935, New Friends Colony Founder, Murty Classical Library of India th New Delhi - 110 065 703, 47 A Cross 9th Main Road, Jayanagar 5th Block Mr. Uday S. Kotak Bengaluru - 560 041 Vice Chairman & Managing Director Kotak Mahindra Bank Ltd. Overseas Member Bakhtawar, 2nd Floor, 229, Nariman Point Lord Nicholas Stern Mumbai - 400 021 IG Patel Chair and Director Mr. Sudhir Mankad LSE Asia Research Centre Plot 192, Sector 8 London, United Kingdom Gandhinagar - 382 007 Member-Secretary Mr. Sanjiv Misra Dr. Rajat Kathuria Non Executive Chairman, Axis Bank Director & Chief Executive, ICRIER 1541, ATS Village Core 6A, 4th Floor, India Habitat Centre Sector 93A, Noida Expressway Lodhi Road, New Delhi - 110 003 Noida - 201 304 8 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 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 9 Annual Report 2016-17 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 V. Desai 7. Mr. Y. C. Deveshwar 34. Dr. Kirit S. Parikh 8. Mr. Nitin Desai 8. Mr. Jamshyd Godrej 35. Dr. Swati A. Piramal 9. Mr. M. Dubey 9. Mr. Rajinder Gupta 36. Mr. S. Ramadorai 10. Mr. R. M. Honavar 10. Ms. Lalita D. Gupte 37. Mr. N. Ravi 11. Mrs. Anna R. Malhotra 11. Mr. Anwarul Hoda 38. Dr. Y. V. Reddy 12. Dr. Suman K. Modwel 12. Dr. Bimal Jalan 39. Mr. Shyam Saran 13. Mr. P. K. Nanda 13. Mr. Rakesh Kacker 40. Mr. Parth J. Shah 14. Mr. N. C. B. Nath 14. Mr. K. V. Kamath 41. Mr. Ajit Seth 15. Mr. P. C. Nayak 15. Dr. Vijay Kelkar 42. Mr. Prakash Shah 16. Dr. Deepak Nayyar 16. Mr. Rajeev Kher 43. Dr. Kiran Mazumdar Shaw 17. Dr. V. R. Panchamukhi 17. Dr. Rahul Khullar 44. Mr. N. K. Singh 18. Mr. Vijay G. Pande 18. Ms. Naina Lal Kidwai 45. Mr. Surendra Singh 19. Mr. R. D. Pradhan 19. Mr. Uday S. Kotak 46. Mr. Pramath Sinha 20. Mr. Vinay Bharat Ram 20. Dr. Rajiv Kumar 47. Dr. T. N. Srinivasan 21. Mr. S. S. Ramphal 21. Mr. Darshan Lal 48. Lord Nicholas Stern 22. Dr. C. Rangarajan 22. Dr. Deepak Lal 49. Mr. C. M. Vasudev 23. Mr. S. S. Rao 23. Dr. Rajiv B. Lall 24. Dr. Manmohan Singh 24. Mr. Arun Maira 25. Mr. R. V. Subrahmanian 25. Mr. Raghunandan D. Maluste 26. Dr. M. S. Swaminathan 26. Dr. R. A. Mashelkar 27. Dr. Charan D. Wadhva 27. Mr. Aman Mehta * 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, Dr. S. P. Gupta, Mr. B. D. Jayal, Mr. L. K. Jha, Mr. S. V. S. Juneja, 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. Fredie A. Mehta, Mr. Govind Narain, Mr. B. K. Nehru, Mr. I. G. Patel, Mr. Anand Prakash, Mr. Bharat Ram, Mr. P. Chenstal Rao, Mr. J. Rameshwar Rao, Mr. H. N. Ray, Mr. S. R. Sen, Mr. N. K. Sengupta, Mr. Y. T. Shah, Mr. Manu R. Shroff, Mr. Harbans Singh, Mr. Prakash Tandon, Mr. T. K. N. Unnithan, Mr. Mohammad Yunus 10 Director’s Report of urbanisation, such as transport and congestion, air pollution and waste management, are on the rise, while demand for safe drinking water continues to grow. Further, the growth of the Indian economy depends critically on the performance of the agriculture sector. Research at ICRIER this year has focussed