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All The Wrong Turns
Perspectives on the Indian economy
Speakers
Why does India lurch from economic crisis to economic crisis? There’s been one every decade since 1950. Why is a decade of high growth always followed by a decade of low growth? How does India’s economic management differ from China’s? What’s the mindset that has shaped policy since Independence? Are we doomed to bumble along?
These are some of the troubling questions that TCA Ranganathan and TCA Srinivasa Raghavan attempt to answer in this discussion. Both experienced observers of the Indian economy and its constraints, they analyse the economy over the past seven decades to examine how successive governments have managed the Indian economy. They find that there has been a remarkable continuity in policy and strategy, mostly of the wrong sort!
In this discussion as in their recent book, they investigate all major strands of the economic, political, constitutional and administrative system to delve deep into factors that have constrained the country’s development. The solutions they offer are implicit in their analysis.
Speakers
TCA Ranganathan
TCA Ranganathan was a career banker for close to four decades and retired as the Chairman of the Export Import Bank of India (Exim Bank). He started his career with State Bank of India (SBI) in 1975 and held diverse assignments in corporate finance, international banking, investment banking and consultancy in addition to domestic banking.
In 2006, he set up SBI Shanghai, the first Indian bank in China. He was also a member of the newly formed ‘Technology Planning Group’ set up by the SBI in early 2000 for selection and implementation of new IT-based solutions required for modernization of the bank. Later, as head of SBI‘s foreign offices, he was also the board director of their international subsidiaries and joint ventures in North America, Asia and Africa. He was later the Managing Director of State Bank of Bikaner and Jaipur, an associate of the SBI, which was his last assignment within the SBI system prior to appointment as Chairman of Export Import Bank of India in April 2010
TCA Srinivasa Raghavan
TCA Srinivasa Raghavan began his career in 1975 as the Economics Editor at Macmillan India. In 1980, he switched to journalism. Over the next thirty-three years he worked at the Free Press Journal, Eastern Economist, Financial Express, Indian Express, The Economic Times, Business Standard and The Hindu Business Line. Between 2004 and 2011, he was, at various times, a consultant with the Reserve Bank of India for Volumes Three and Four of its history. He also helped complete the monetary history of India from 1800-1950. He has been a consultant at many research institutions, like ICRIER and NCAER, and written over a dozen research papers and three books, one of which is a novel. He is currently a columnist for Business Standard, where he writes on economics, politics and books.
