Sanjeev Sanyal Named Principal Economic Adviser
He may serve in fin min’s economic division now headed by chief economic adviser
Mumbai: The working and ways of North Block might not be new for Sanjeev Sanyal, the newly-appointed principal economic adviser in Department of Economic affairs. A Rhodes Scholar with a degree in Economics from Oxford and an alumnus of Delhi’s Sriram College, Sanyal is son of a former bureaucrat.
Sanyal, a bestselling author, has made his mark in diverse areas such as environment and sustainable development, urban issues, microfinance as well as foreign investment, making him eminently suitab- le for this public policy role.
His best-selling books including his latest ‘The Ocean of Churn: How Indian Ocean shaped India’s history’, ‘The Indian Renaissance: India’s Rise after a Thousand Years of Decline’, and ‘Land of the Seven Rivers: A Brief History of India’s Geography’ trace India’s evolution as a country since the Indus valley civilisation days and the role of globalisation has played in the process. This dovetails very well with the BJP’s ideology. The appointments committee of cabinet has approved Sanyal’s appointment for three years on acontract basis.
He is likely to serve in the economic division of the finance ministry that is cur- rently headed by the chief economic adviser Arvind Subramanian. Subramanian’s three-year term expires in Oc- tober this year.
Sanyal, in his mid-forties, is known for his out-of-the-box thinking. At a time when micro-lending was a non-profit initiative and had not reached any scale, Sanyal was among the few to visualise its potential and proposed the need for promoters bringing in equity in the business to make them more accountable.
In an interview to ET in early 2013, he had said that from a long-term view of the world, one needs to watch China’s transformation from being “factory to the world” to becoming an “investor to the world”. Sanjeev Sanyal too was named Young Global Leader for 2010 by the World Economic Forum in Davos.