San­jeev Sanyal Named Prin­ci­pal Eco­nomic Ad­viser

He may serve in fin min’s eco­nomic di­vi­sion now headed by chief eco­nomic ad­viser

The Economic Times - - Economy: Macro, Micro & More - Gay­athri.Nayak @times­

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.

San­jeev Sanyal

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