Moderator: Dr Gursharan Dhanjal, Vice Chairman, SKOCH Group
Opening Remarks: Mr Sameer Kochhar, Reforms Historian, Author of ModiNomics and Chairman, SKOCH Group
Summary: The speaker says they may not be an economist, but their views come from lived experience of poverty and the hard choices it forces. They describe growing up in Paharganj where even ₹50 meant deciding between electricity bills, school fees, or medical care. They argue that debates on freebies must consider real needs, because only those who have lacked basics truly understand their value. They question who gets to decide what counts as “merit” or “non-merit” goods, especially for essentials like water and electricity. They believe freebies are not always wrong, but must be better targeted to those who genuinely need support. The speaker connects this to India’s vision of inclusive growth and says the real nation-builders are grassroots institutions and ordinary people. They conclude that SKOCH exists to recognize and celebrate these “little successes” that will help India reach its 2047 development goal.*
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Mr Ravinder Singh Dhillon, CMD, Power Finance Corporation (PFC)
Summary: The speaker thanks SKOCH Group for the award and expresses gratitude to the entire PFC team for their support. They highlight that Power Finance Corporation is the largest NBFC in the country and holds Maharatna status. They explain PFC’s major role in financing India’s power sector, covering generation, transmission, and distribution. The speaker notes that PFC has funded over 230 gigawatts of installed capacity. They add that for the last six to seven years, PFC has also been supporting renewable energy at scale. They conclude by emphasizing PFC’s contribution to the energy transition and mention recognition through Golden Shield awards for financial reporting.*
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Dr Amit Kapoor, Honorary Chairman, Institute for Competitiveness
Summary: The speaker thanks Sameer and SKOCH and says it is a pleasure to receive the award. They express deep respect for Dr Debroy, calling him the one person they would most like to emulate in life, and say it is an honor to receive the award from him. They acknowledge three key mentors and collaborators—Richard Dasher from Stanford, Michael Porter, and Christian from Harvard—who guided their work on competitiveness. The speaker also thanks their wife for support throughout the journey. They express gratitude to their past teachers, including Dr Balaji, Dr Vaidya, and Dr Pritam Singh. They also mention Amitab Khan for believing in their work, and conclude by thanking Dr Debroy for consistently supporting them.*
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Prof Lekha S Chakraborty, Professor, NIPFP and Elected Member, Governing Board, IIPF
Summary: The speaker announces the SKOCH award for monetary policy, which is being given to Professor Chakraborty, who is joining virtually. They congratulate the awardee and mention that he has confirmed acceptance and would like to say a few words. The speaker reflects that many discussions can become nonsense unless action is taken in time. They refer to a broader dream of a self-defined government and an integrative approach toward the future. They note that economics discussions often drift into business talk, but the focus should remain on policy. They emphasize the importance of understanding society’s stages and building policies and rules accordingly. They close by thanking everyone.*
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Dr Charan Singh, CEO & Founder Director, EGROW Foundation and Non-Executive Chairman, Punjab & Sind Bank
Summary: The speaker thanks Sameer and Professor Debroy for the award and says it is a timely recognition of their work. They emphasize their long-standing focus on inflation targeting as a core element of monetary policy. They also highlight the importance of combining monetary policy thinking with demographics, which they say has not been done anywhere in the world. The speaker points to India’s multiple-indicator approach as an important framework. They argue that recent aggressive interest rate hikes in the US and other advanced economies show monetary policy research on inflation is still inadequate. They conclude by saying India’s economists can contribute significantly and call for revisiting the Cambridge equation as a key foundation of monetary policy.*
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Mr Sanjeev Sanyal, Member, Economic Advisory Council to the Prime Minister
Summary: The speaker says they are honored to be considered for the prestigious award in Economic Policy. They add that it is especially meaningful to receive it from Vivekda, whom they regard as a mentor and guru. They accept the award on behalf of their young team of professionals and consultants. The speaker emphasizes that the next generation of policy makers is already on the way and assures the audience of their excellence. They believe many of these young policy makers will soon be standing on the same stage in the coming years. The speaker also acknowledges the challenges faced by policy makers, noting that everyone has strong opinions, success is rarely remembered, but mistakes are never forgotten.*
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Acceptance Speech by Dr M Govinda Rao, Councillor, Takshashila Institution and Former Member 14th Finance Commission, Government of India
Summary: The speaker expresses deep gratitude for the Lifetime Achievement Award, noting it came as a surprise due to their low-profile career. They describe their journey from a remote rural village with limited resources to a lifelong career in economic research. They highlight over 50 years of work in public finance, tax policy, and fiscal federalism. The speaker acknowledges the mentors, colleagues, and institutions that shaped their work. They note their role in the introduction of service tax and early thinking on GST. They conclude by reaffirming their commitment to continue research and writing while thanking the SKOCH family.*
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Dr Bibek Debroy, Chairman, Economic Advisory Council to the Prime Minister
Summary: The speaker says they made time to attend, even on a rainy Saturday, because their friend Govinda Rao was receiving a Lifetime Achievement Award. They reflect that both Govind and they come from a post-Independence generation shaped by shortages, including growing up without electricity and tap water. They describe how that generation often carried the burden of defending India’s image abroad. Looking ahead, they call 2047 an aspirational goal and note that no one can truly predict what India will be like then. They argue that India’s economic size and strategic clout will be very large by 2047, regardless of forecasts. While many reforms will not happen because reforms create winners and losers, they conclude that India in 2047 will still be remarkably different, with new leaders and new challenges.*
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Mr Vikesh Dhyani, Co-Founder, Oakbridge Publishing
Book Discussion
The session centered on the launch of the book India 2047, an aspirational volume examining India’s path to becoming a high-income, equitable, and sustainable nation. Speakers highlighted demographic trends, urbanization, and the need for productive employment as key drivers of future prosperity. The discussion emphasized competitiveness, regional disparities, and the importance of sector- and location-specific growth strategies. Strong focus was placed on education, skilling, and human development as foundations for long-term growth. Reforms in governance processes, bureaucracy, and the legal system were identified as critical enablers. Panelists stressed that growth must be balanced with equity, social progress, and inclusion, particularly women’s workforce participation. The role of markets, competitive firms, and entrepreneurship was underscored as essential for job creation. The session concluded that while 2047 is aspirational, India will be a markedly different and larger economy, with much work still ahead.
Chair: Dr M Govinda Rao, Councillor, Takshashila Institution and Former Member, 14th Finance Commission, Government of India
Prof Lekha S Chakraborty, Professor, NIPFP and Elected Member, Governing Board, IIPF
Mr Sanjeev Sanyal, Member, Economic Advisory Council to the Prime Minister
Mr S P Bhagora, CEO, Dahod Smart City Development Ltd & Regional Commissioner of Municipalities, Vadodara
Dr Charan Singh, CEO & Founder Director, EGROW Foundation and Non-Executive Chairman, Punjab & Sind Bank
Dr Amit Kapoor, Honorary Chairman, Institute for Competitiveness
Dr Sanjaya Baru, Political Commentator and Policy Analyst
SKOCH Governance Awards
Lunch