|16th Chief Economic Adviser to the Government of India|
16 October 2014 – 20 June 2018
|Preceded by||Raghuram Rajan|
7 June 1959|
St Stephen's College, Delhi|
University of Oxford
Arvind Subramanian is an Indian economist and the former Chief Economic Adviser to the Government of India, having taken charge of the position on 16 October 2014 to 20 June 2018 succeeding Raghuram Rajan. The post of CEA was lying vacant for over a year since Raghuram Rajan left the finance ministry to join the RBI as governor in September 2013.
He served as the Dennis Weatherstone Senior Fellow at the Peterson Institute for International Economics and a Senior Fellow at the Center for Global Development, both located in Washington DC. Formerly an economist at the International Monetary Fund, he is a widely cited expert on the economics of India, China, and the changing balance of global economic power. Arvind Subramanian is the author of two books, India's Turn: Understanding the Economic Transformation published in 2008, Eclipse: Living in the Shadow of China's Economic Dominance published in September 2011, and co-author of Who Needs to Open the Capital Account? which was published in 2012.
Subramanian attended the DAV Boy's Senior Secondary School, Chennai, for his high school education. He proceeded to St Stephen's College, Delhi where he read for a bachelors in economics. He then proceeded to earn an MBA from the Indian Institute of Management, Ahmedabad and M.Phil and D.Phil degrees from the University of Oxford on an Inlaks Scholarship.
Subramanian was the Assistant Director in the Research Department of the International Monetary Fund. He is a development economist who worked closely with former Reserve Bank of India Governor Raghuram Rajan when both were at the International Monetary Fund. He served at the GATT during the Uruguay Round of trade negotiations. He has taught at Harvard University's Kennedy School of Government from 1999 to 2000. He has also taught at Johns Hopkins' School for Advanced International Studies from 2008 to 2010.
Chief Economic Adviser
In October 2014, he was appointed the Chief Economic Adviser (CEA) to Indian government. The post had been lying vacant since Raghuram Rajan left the finance ministry to join as governor of the Reserve Bank of India in September 2013. After his three-year term ended in 2017, he was given a year’s extension.
On 20 June 2018, finance minister Arun Jaitley announced that owing to family commitments, Subramanian would be stepping down before the scheduled end of his tenure to return to academia in the US. Jaitley noted that Subramanian's early diagnosis of the twin balance-sheet led to the government outlining higher public investment in the union budget of 2015–16. He also credited Subramanian with conceptualizing the Jan Dhan-Aadhaar-Mobile trinity, or JAM, as a data base of citizens for availing public benefits.
In his role as the CEA, Subramanian was responsible for bringing out the annual Economic Survey of India, traditionally released prior to the presentation of the union budget in the Indian parliament. He is widely credited with revamping the presentation of information through the surveys, making them wider in scope and accessible to a larger audience.
Subramanian has authored essays and other publications on growth, trade, development, institutions, aid, oil, India, Africa, and the World Trade Organisation. He has been widely published in academic and other journals (including the American Economic Review (Papers and Proceedings), Review of Economics and Statistics, Journal of International Economics, Journal of Monetary Economics, Journal of Public Economics, Journal of Economic Growth, Journal of Development Economics, Brookings Papers on Economic Activity, Oxford Review of Economic Policy, International Monetary Fund Staff Papers, Foreign Affairs, World Economy, and Economic and Political Weekly.)
He has also been cited in leading magazines and newspapers, including the Economist, Financial Times, Washington Post, New York Times, Wall Street Journal, Newsweek, and New York Review of Books. He contributes frequently to the Financial Times and is a columnist in India's leading financial daily, Business Standard.
As a Senior Fellow, Peterson Institute for International Economics and Center for Global Development, in March 2013, Arvind Subramanian appeared before United States House Committee on Ways and Means hearing on “US-India trade relations.” During his testimony, Arvind Subramanian said "by discriminating against Indian companies and exporters, (US initiatives) will exert natural pressure on India to open up".
He is married to Parul Subramanian. His elder brother is V S Krishnan who is a retired Indian Revenue Service Officer and a former Member of the Central Board of Excise and Customs (CBEC) and was a key player in piloting the Goods and Service Tax Bill.
- The Times of India. "Arvind Subramanian appointed as a chief economic adviser". Retrieved 2014-10-16.
- "The FP Top 100 Global Thinkers". Foreign Policy. 28 November 2011. Retrieved 19 May 2012.
- "Arvind Subramanian is Chief Economic Adviser". The Hindu. New Delhi. Reuters. 16 October 2014. Retrieved 17 October 2014.
- "Arvind Subramanian appointed Chief Economic Adviser to Modi government". The Economic Times. New Delhi. Press Trust of India. 16 October 2014. Retrieved 17 October 2014.
- Anand, Nupur; Iyer, Sriram (20 June 2018). "Team Modi loses another star economist". Quartz. Retrieved 26 July 2018.
- Gupta, Ashish (21 June 2018). "The importance of being Arvind Subramanian". Fortune India. Retrieved 26 July 2018.
- "What Arvind Subramanian did for economy: Arun Jaitley is all praise for departing CEA, from GST to JAM". The Financial Express. 20 June 2018. Retrieved 26 July 2018.
- United States House Committee on Ways and Means (13 March 2013). "Congressional Testimony before the Ways and Means Committee of the United States Congress, hearing on "US-India trade relations." By Arvind Subramanian, Senior Fellow, Peterson Institute for International Economics and Center for Global Development, Washington, DC" (PDF).
- "Fixing the Indian state is beyond Brahma, Vishnu, Shiva and all the gods put together: Arvind Subramanian". The Indian Express. 3 March 2017. Retrieved 26 July 2018.
- "VS Krishnan". The Indian Express. Retrieved 2018-03-11.
- Crabtree, James (10 May 2017). "Arvind Subramanian, economic adviser to Narendra Modi". Financial Times. Retrieved 26 July 2018.