Arvind Panagariya, Economist
Economist

Arvind Panagariya

Born 23 August 1952 · verify

Serving as the first vice-chairman of India's NITI Aayog from 2015 to 2017.

Arvind Panagariya is an Indian economist who is holding the position of Jagdish Bhagwati Professor of Indian Political Economy at Columbia University and the Director of Deepak and Neera Raj Center on Indian Economic Policies at School of International and Public Affairs at Columbia University in New York City. He served as first vice-chairman of the government of India think-tank NITI Aayog between January 2015 and August 2017. He has been appointed as the chairman of 16th Finance Commission by the government of India. He is a former Chief Economist of the Asian Development Bank.

A detail that
surprised us

Arvind Panagariya was appointed India's Sherpa for the G20 talks in September 2015, a role typically reserved for senior diplomats and policymakers, highlighting his unique blend of academic and governmental expertise.

The Story

1. 🎓 In 1978, Arvind Panagariya began his academic career as a professor of economics at the University of Maryland, where he co-directed the Center for International Economics until 2003, shaping early research on international trade. 2. In 2008, his book India: The Emerging Giant was published by Oxford University Press, offering a detailed 544-page analysis of India's economy since the 1950s and a blueprint for future reforms that caught the attention of policymakers worldwide. 3. 🌏 Between 2015 and 2017, Panagariya served as the first Vice-Chairman of NITI Aayog, India's premier policy think tank, where he led data analysis of the Socio Economic and Caste Census 2011, influencing government economic strategies under Prime Minister Modi. 4. 🏛️ In 2012, Panagariya was awarded the Padma Bhushan, India's third-highest civilian honor, recognizing his research and public policy work that bridged academia and government. 5. In 2023, he was appointed Chancellor of the modern Nalanda University in Bihar, reviving an ancient seat of learning and connecting India's economic scholarship with its historic educational heritage. 6. He also became chairman of the 16th Finance Commission in 2023, playing a crucial role in shaping India's fiscal federalism and budget allocations for five years. 7. 📝 Panagariya’s 2008 collaboration with Jagdish Bhagwati on Why Growth Matters won the Eccles Prize for Economic Writing; The Economist called it “a manifesto for policymakers and analysts,” highlighting its influence on economic thought. ❓ How did Panagariya’s blend of global economic theory and Indian policy experience reshape the country’s approach to growth and reform during the volatile 2010s?

🏅 Awards & Honours

Padma Bhushan

🔍 One thing most people don't know

Despite being a professor at Columbia University, Panagariya resigned from NITI Aayog in 2017 because Columbia did not extend his leave beyond August that year, illustrating the tension between academic commitments and government service.

🖼️

Through the Years

5 photographs from the archives
Arvind Panagariya chairing a consultation meeting on Innovation and Entrepreneurship in New Delhi (2015)
Arvind Panagariya chairing a consultation meeting on Innovation and Entrepreneurship in New Delhi (2015)
2015
Arvind Panagariya addressing the National Meet on Space Technology in Governance, New Delhi (2015)
Arvind Panagariya with Arun Jaitley at a press conference in New Delhi (2015)
Arvind Panagariya lighting the lamp at a meeting on urban management in New Delhi (2016)
Arvind Panagariya addressing experts on urban management issues in New Delhi (2016)

🗓️ A Life in Moments

🕊️
Birth
Born in Bhilwara, Rajasthan
Arvind Panagariya was born on 30 September 1952 in Bhilwara, Rajasthan, India.
1952
Career
Started University of Maryland tenure
Panagariya began teaching economics and co-directed the Center for International Economics at the University of Maryland, College Park, a position he held until 2003.
1978
📖
Publication
Published India: The Emerging Giant
He published his comprehensive book analyzing India's economy from the 1950s to 2008, outlining future reforms.
2008
🏅
Award
Awarded Padma Bhushan
The Government of India awarded Panagariya the Padma Bhushan for his work in economics and public policy.
2012
Career
Appointed Vice-Chairman of NITI Aayog
He became the first Vice-Chairman of NITI Aayog, replacing the Planning Commission in India's economic policy framework.
2015
Career
Resigned from NITI Aayog
Panagariya resigned from his post at NITI Aayog due to Columbia University not extending his leave beyond August 2017.
2017
Career
Appointed Chancellor of Nalanda University
He assumed office as Chancellor of the modern Nalanda University in Bihar, linking ancient Indian educational heritage with current academic pursuits.
2023
Career
Became Chairman of 16th Finance Commission
Panagariya took charge as chairman of India's 16th Finance Commission, guiding fiscal policy and intergovernmental financial relations from 2023 to 2028.
2023
More moments to come...
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🗝️Discoveries

Swipe to uncover hidden stories
01 / 04
🏆ACHIEVEMENT

In 2012, Panagariya received the Padma Bhushan, awarded by the President of India, acknowledging his impact on economics and public policy, a rare honor for economists actively engaged in both academia and government.

02 / 04
🏆ACHIEVEMENT

He has worked with nearly every major international economic institution – the World Bank, IMF, WTO, UNCTAD, and Asian Development Bank – showcasing a career deeply embedded in global economic governance.

03 / 04
🏆ACHIEVEMENT

His book Why Growth Matters, co-authored with Jagdish Bhagwati, won the Eccles Prize for Excellence in Economic Writing and was hailed as the best economic book of the year by the Financial Times in 2012.

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🎙️ Speeches & Recordings

These recordings preserve the legacy of Bharat's icons
India: The Emerging Giant
·YouTube
More from this archive
India: The Emerging Giant
01
India: The Emerging Giant
YouTube
Khas Mulaqat:  In conversation with Padma Bhushan Dr. Arvind Panagariya
02
Khas Mulaqat: In conversation with Padma Bhushan Dr. Arvind Panagariya
YouTube
Arvind Panagariya Vice-Chairman, Niti Aayog Of India || The Growth Net 2017
03
Arvind Panagariya Vice-Chairman, Niti Aayog Of India || The Growth Net 2017
YouTube
Candid Conversation: Interview with Arvind Panagariya
04
Candid Conversation: Interview with Arvind Panagariya
YouTube
India Today Exclusive: Panagariya Outlines Govt's Strategy
05
India Today Exclusive: Panagariya Outlines Govt's Strategy
YouTube
Fireside Chat  - Arvind Panagariya & Nouriel Roubini | ET Global Business Summit
06
Fireside Chat - Arvind Panagariya & Nouriel Roubini | ET Global Business Summit
YouTube
A Panel on Reforms and the Future of the Indian Economy
07
A Panel on Reforms and the Future of the Indian Economy
YouTube
Candid Conversation: Interview with Arvind Panagariya
08
Candid Conversation: Interview with Arvind Panagariya
YouTube
Exclusive Interview Of Arvind Panagariya On Demonetization
09
Exclusive Interview Of Arvind Panagariya On Demonetization
YouTube
Executive Decision | "Slowdown Very Much There," Says Former NITI Aayog Chief
10
Executive Decision | "Slowdown Very Much There," Says Former NITI Aayog Chief
YouTube

🌱 What changed because of them

Arvind Panagariya’s tenure at NITI Aayog helped institutionalize data-driven policy making in India, particularly through his work with the Socio Economic and Caste Census 2011. His leadership as chairman of the 16th Finance Commission influences fiscal federalism at a critical juncture. Additionally, as Chancellor of Nalanda University, he is linking India's ancient educational traditions with contemporary economic scholarship, fostering an intellectual revival.

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