The Reserve Bank of India (RBI) established an endowment scheme at the Centre for Development Studies (CDS) in 1976, with the objective of supporting research and higher education in finance, banking, economics, and allied fields. Over the years, this initiative has played a pivotal role in fostering high-quality academic work in these critical domains. The endowment continues to grow under the leadership of Prof. C. Veeramani, the current Director and Chair Professor at CDS.
As part of this enhanced collaboration, two new courses have been introduced into the MA and PhD curricula at CDS: Financial Programming & Policies and Open Economy Macroeconomics in Emerging Market Economies
First Workshop on Open Economy Macroeconomics and Economic Integration in Emerging Market Economies
The Centre for Development Studies successfully hosted the First Workshop on Open Economy Macroeconomics and Economic Integration in Emerging Market Economies from March 13 to 18, 2025. The workshop brought together scholars, policy experts, and early-career researchers to engage in in-depth discussions on contemporary macroeconomic challenges and opportunities facing emerging markets, with a particular emphasis on India. A total of 22 participants from institutions across India took part in the workshop.
The workshop was designed to :Deepen participants’ understanding of key issues in open economy macroeconomics; Explore the macroeconomic implications of economic integration, especially for emerging market economies; Familiarize attendees with the latest theoretical developments, empirical techniques, and policy frameworks; Provide insights into the working of financial institutions, particularly the Reserve Bank of India.
The workshop featured a lineup of eminent speakers and researchers:
Dr. Pallavi Chavan (RBI, Mumbai): Macroeconomic Policy Research: Opportunities and Prospectus at RBI
Dr. Ayyappan Nair (RBI, Mumbai): Financial Stability Implications of Geoeconomic Fragmentation
Prof. Pinaki Chakraborty (NIPFP, New Delhi): Economic Uncertainty, Fiscal Rules, and Fiscal Prudence
Prof. Saikat Sinha Roy (Jadavpur University, Kolkata): Balance of Payment and Exchange Rate: Theory and Empirics
Prof. Prachi Mishra (Ashoka University, Sonipat): Global Economy and Financial Markets
Prof. C Veeramani (CDS, Thiruvananthapuram): Emerging Issues in International Trade
In addition to lectures, the workshop also showcased research presentations by emerging scholars. This created a stimulating environment for peer feedback, mentorship, and potential collaborations. The focus on applied and policy-relevant research helped bridge academic inquiry with real-world economic challenges.
Several key studies have been conducted/ published under the RBI unit.
“Why is Labor Receiving a Declining Share of Income in India? Role of Trade and Market Share Reallocation”, C. Veeramani (with Anwesha Basu), Asian Economic Papers, MIT Press Volume 24, Issue 3 (forthcoming) (Impact Factor: 5.3)
- “India’s Integration into Global Value Chains: Policy Approaches to Growth and Supply Chain Resilience”, C. Veeramani, Asia and the Pacific Policy Studies, Wiley, forthcoming (Impact factor 0.8)
- “External Sector Outlook and 2025–26 Union Budget”, C Veeramani, Economic and Political Weekly, Vol. 60, Issue No. 16, 2025
- “Dynamics and Determinants of Fragmentation Trade: India in Comparative and Long-term Perspective”, C. Veeramani (with Garima Dhir), Economic and Political Weekly, 59, 34, 2024
- “Growth Gains from Offshoring”, C. Veermani (with Sugata Marjit and Anwesha Basu), Journal of Policy Modeling, Volume 46, Issue 1, 2024,(Impact factor 3.1)
- “Do Global Value Chains Clean or Harm the Environment?”, C Veeramani (with Manish), Indian Economic Review, forthcoming
- “Trade, FDI, and Growth: Overview and Evidence from India” , C. Veeramani, In Dibyendu Maiti, Bishwanath Goldar, and K.L. Krishna (eds) 75 Years of Growth, Development and Productivity in India: Issues, Measures, Causes, and Impacts, Springer, 2025 (forthcoming)
- What You Import and Where It Comes From Matter for Growth: Theoretical and Empirical Perspectives, C Veeramani (with M Parameswaran), In Rajat Acharya and Sugata Marjit (ed), Handbook of International Economics, Oxford University Press, forthcoming
- “Unraveling the Complexity of Vertical Specialization and Fragmentation Trade: A Survey of Patterns, Drivers, Implications, and Evolving Dynamics” , C. Veeramani, In Rajib Bhattacharyya and Debashis Mazumdar (eds), Contemporary Issues in International Trade: Challenges and Opportunities, Emerald, 2024
- Strategic Trade Policies for Catalysing India’s Economic Transformation, C Veeramani (with Anwesha Basu), In Charan Singh and Arvind Virmani (eds), India’s Economic Evolution Towards Inclusive Development: Exploring the Bhartiya Model, Springer, forthcoming
- “Evaluation of Finances of State of Kerala”, C Veeramani (with M Parameswaran and Hrishikesh Mallick), Report Prepared for the 16th Finance Commission, 2025, completed
- “Gains from Mobile Phone Manufacturing in India through Backward-Linked Participation in Global Value Chains: Impact on Domestic Value Addition, Exports, Employment, and Wage Income”, C. Veeramani, Report prepared for Apple India, 2025 (completed)
- “Effects of Backward GVC Participation on Labor Market: Micro-Level Evidence from India”, C Veeramani (with Deepali Gupta), IGIDR WP-2025-005
- “Economic Policy Framework for Viksit Bharat”, C. Veeramani, Report Submitted to the Chief Economic Advisor, Government of India” 2024
In addition to this 5 international seminars, 24 seminars/ lectures/ webinars/ meetings were presented at the national level including
- Policy brief presentation at an interactive session of eminent economists with Hon’ble Prime Minister of India on the theme “An Agenda to Accelerate Growth and Employment Across Regions & Sectors” , NITI Aayog, New Delhi, July 11, 2024
- ‘Industrial Policy in the Era of Global Value Chains’, 3rd Kautilya Economic Conclave, 4 – 6 October 2024, New Delhi
- Paper presentation titled ‘Why is Labor Receiving a Declining Share of Income in India? Role of Trade, Technology and Market Share Reallocation’ at the Asian Economic Panel meeting held at Keio University, Japan, 3-4 September 2024
- ‘Policy Approaches to Growth and Supply Chain Resilience:
India’s Integration into GVCs and Lessons from Mobile Phone Manufacturing’, Supply Chain Policy Roundtable, EABER (ANU) and CSIS (Indonesia), 29 October 2024, Jakarta - ‘Connectivity and Regional Value Chains’ , 8th Roundtable of the ASEAN-India Network of Think Tanks, Singapore, 7-8 November 2024
- ‘Global Value Chain: A New Paradigm of Agri-food Trade’ jointly by BIMSTEC, IFPRI and RIS, Bangkok, 3-4 October 2024
- ‘Global Value ChainsA New Paradigm of Agri-Food Trade’, Capacity Strengthening Program on Agri-Food Trade Policy in Bangladesh, jointly organized by Policy Research Institute and IFPRI, Dhaka27-28 May 2024
The Chair Professor is member of several committees, advisory bodies at the international, national and state level.
- Member, “RBI’s Empowered Committee on External Commercial Borrowings and Overseas Direct Investments” , January 2018 – onwards
- Invited participant at the “Pre-Budget Consultation Meetings with the Hon’ble Finance Minister of India” , December 6, 2024
- Member, Memorandum Drafting Committee of the Govt. of Kerala to the Sixteenth Finance Commission , 2024
- Invited participant at the “Pre-Budget Consultation Meetings with the Hon’ble Finance Minister of Kerala”, 2024
- Contributed to a policy note for the Government of Kerala on the announcement of schemes for “Global Capability Centers” (GCCs), as outlined in the 2025–26 Budget Speech. The note informed strategic directions and program design for enhancing Kerala’s role in the global knowledge services sector., 2024
- Chair, Study Group on “E-Governance” constituted by the Hon’ble Finance Minister of Kerala for the preparation of the State’s Memorandum to the 16th Finance Commission. Led the drafting of the thematic report providing policy recommendations to strengthen digital governance and public service delivery 2024.
Prof. C. Veeramani
Chair Professor