Rajiv Kumar (economist)

Rajiv Kumar (born 6 July 1951) is an eminent Indian economist, policy thinker, and institution-builder, known for his extensive contributions to economic reform, public policy, and institutional development in India. He has held leadership roles across government, academia, international organisations, and industry associations, most notably serving as the Vice-Chairman of NITI Aayog, the Government of India’s premier public policy think tank, from 2017 to 2022.

Early Life and Education

Rajiv Kumar was born in 1951 and received his early education in India. He earned a PhD in Economics from Lucknow University in 1978, followed by a Doctor of Philosophy (DPhil) from the University of Oxford in 1982. His academic training at some of the world’s most prestigious institutions shaped his analytical and research-oriented approach to economics, combining global perspective with deep understanding of India’s socio-economic realities.

Academic and Professional Career

Rajiv Kumar’s professional journey spans more than four decades, during which he has served in a variety of significant roles across both public and private sectors.

• Government Service: He began his career in the Ministry of Industry and later in the Ministry of Finance, where he contributed to key policy discussions during India’s early phase of economic reforms in the 1980s and 1990s.
• Industry Associations: Kumar served as the Chief Economist at the Confederation of Indian Industry (CII) and later as the Secretary-General of the Federation of Indian Chambers of Commerce and Industry (FICCI). In these positions, he helped strengthen the interface between industry and government, promoting industrial growth and competitiveness.
• Research and Think Tanks: He played a pivotal role in shaping India’s policy research landscape. He was the Director and Chief Executive of the Indian Council for Research on International Economic Relations (ICRIER) and also worked with the Centre for Policy Research (CPR) in New Delhi. His contributions helped establish both institutions as leading think tanks influencing policy formulation in India.
• International Roles: Rajiv Kumar also served as a senior economist at the Asian Development Bank (ADB) in Manila, where he worked on development finance, regional cooperation, and macroeconomic policy in the Asia-Pacific region. He has also served on the boards of the Reserve Bank of India (RBI) and the State Bank of India (SBI), providing him with a unique insight into India’s financial and regulatory frameworks.

In 2017, he was appointed Vice-Chairman of NITI Aayog, succeeding Arvind Panagariya. During his tenure, he guided the institution in advancing India’s economic strategy, promoting innovation, sustainable development, and cooperative federalism.

Contributions to Economic Policy

Rajiv Kumar’s work is distinguished by his ability to bridge theoretical economics and policy implementation. His key areas of contribution include:

• Economic Reforms and Growth Strategy: He has been an advocate of structural reforms to enhance productivity, fiscal prudence, and inclusive growth. His policy recommendations have often focused on the need for innovation-driven industrial development and improved governance.
• Industrial Development and Competitiveness: Drawing on his experience in industry associations, he promoted policies that link private sector innovation with national economic objectives, especially in manufacturing and technology.
• Globalisation and Trade: Kumar has written extensively on India’s integration into the global economy and its role in multilateral trade systems.
• Institution-Building: He strongly believes that sustainable economic progress depends on robust, transparent, and independent institutions that can promote evidence-based decision-making.

Publications and Intellectual Contributions

Rajiv Kumar has authored and edited several books, research papers, and articles on subjects such as India’s economic reforms, governance challenges, and the future of the Indian economy. His works are noted for their clarity, analytical depth, and emphasis on long-term structural transformation. As a frequent columnist and commentator, he continues to influence public discourse on economic policy and governance.

Tenure at NITI Aayog

As Vice-Chairman of NITI Aayog, Rajiv Kumar played a central role in shaping India’s developmental agenda. His tenure focused on:

• Strengthening Centre-State cooperation in economic planning and resource allocation.
• Promoting sustainable and inclusive growth through innovation, entrepreneurship, and rural development.
• Advancing initiatives in digital governance, infrastructure investment, and renewable energy.
• Encouraging private sector participation and public-private partnerships for national development.

He was known for his collaborative approach, emphasising consultation with stakeholders, evidence-based policy formulation, and coordination across ministries and state governments.

Awards and Recognition

Throughout his career, Rajiv Kumar has been recognised for his intellectual contributions and leadership in the field of economics. His deep involvement in academia, research, and public policy has earned him respect both in India and internationally.

Leadership Style and Philosophy

Rajiv Kumar’s leadership style reflects a blend of academic rigour and pragmatic decision-making. He advocates for:

• Evidence-based policymaking, guided by data and research.
• Institutional accountability and transparent governance.
• Economic inclusion that ensures growth benefits reach all sections of society.
• Long-term strategic thinking, balancing economic efficiency with social equity.

He has often stated that India’s development requires the convergence of innovation, good governance, and participatory democracy.

Legacy and Significance

Rajiv Kumar’s career exemplifies the role of the modern economist as both scholar and policymaker. His ability to move seamlessly between academia, government, and international institutions highlights his adaptability and broad understanding of development challenges.
Through his work, he has helped shape India’s transition from a state-controlled to a market-oriented economy, while advocating for reforms that balance efficiency, equity, and sustainability. His tenure at NITI Aayog strengthened India’s institutional capacity for long-term policy planning.