Nilanjan Banik

Ph.D. in Economics, Utah State University, USA, Spring 2005

MA in Economics, Delhi School of Economics, India, 1997

B.Sc. (Honors) in Economics, Calcutta University, India, 1995

Nilanjan Banik

PhD (Utah State University); M.A.(Delhi School of Economics)

Academic Position

Professor and Program Director (BA, Economics and Finance), Mahindra University, India. (July 2021-Present).

Honorary Position:
Research Fellow, Hankuk University of Foreign Studies, South Korea (September 2019-Present).
Academic Consultant, Geneva Network, United Kingdom (April 2015-Present).

Professor, Bennett University, India. (July 2016-June 2021).
Consultant and Team Lead, CUTS International and Ministry of Food Processing Industries, Government of India (July 2021-October 2021).
Visiting Fellow, Korea Institute for Economic Policy, South Korea (May 2019-June 2019).
Visiting Professor, Indian Institute of Management (IIM)-Indore (Spring 2019).
Senior Consultant, TATA Education and Development Trust, India (July 2016-July 2017).
Associate Professor, Mahindra Ecole Centrale, India (February 2014-June 2016).
Advisor, Commission of Inquiry, Government of Telangana (March 2015-September 2016).
Fellow, CUTS International (November 2013-July 2015).
Consultant, KPMG (September 2014-July 2015).
Visiting Professor, Woxsen School of Business, Hyderabad (Fall 2015).
Visiting Professor, Indian Institute of Management (IIM)-Nagpur (Fall 2015).
Consultant, Australia India Institute, University of Melbourne (Fall, 2014).
Professor, Institute for Financial Management and Research (IFMR), India (April 2012 - July 2013).
Consultant, Rajiv Gandhi Foundation, New Delhi (June, 2012- February, 2013).
Visiting Professor, IIM-Ranchi (Spring, 2012).
Visiting Professor, IIM-Rohtak (Fall, 2011).
Consultant, Asian Development Bank, Manila (November 2010 - February 2011).
Visiting Fellow, Durham Business School, UK (August 2010 – September 2010).
Associate Professor, IFMR, India (April 2007 - March 2011).
Consultant, Asian Development Bank Institute, Tokyo (May 2008 - October 2008).
Assistant Professor, IFMR, India (January 2006 - March 2007).
Visiting Professor, Reserve Bank Staff College, Chennai (2007 and 2008).
Assistant Professor, Madras School of Economics (MSE), Anna University, India (July 2005 – December 2005).
Visiting Professor, IIM-Indore (Fall, 2005).
Instructor, Utah State University, USA (Fall, 2004; Spring, 2005).

Academic Research

Prof. Banik works focus on the application of time series econometrics in issues relating to international trade, market structure and development economics. Besides, time series econometrics his other area of work focuses on the `rules' part of WTO; especially examining the non-tariff barriers aspect of GATT/WTO agreements.
Prof. Banik has project experience with the Australian Department of Foreign Affairs and Trade, Australia; Laffer Associates, USA; Ministry of Commerce, Government of India; Research and Information System for Developing Countries (RIS), New Delhi; Indian Council for Research on International Economic Relations (ICRIER), New Delhi; Center for Economic Policy Research, UK; Asian Development Bank Institute, Tokyo; Asian Development Bank, Manila; South Asia Network of Economic Research Institutes (SANEI); UNESCAP-ARTNeT, Thailand, Australia India Institute, University of Melbourne; Copenhagen Consensus, Denmark; TATA Trusts, India; and the World Trade Organization, Geneva.
He has teaching experience with Utah State University, USA; University of Durham, UK; University of Greenland, Nuuk; Institute for Financial Management and Research, Chennai; Indian Institute of Management (Indore, Rohtak, and Ranchi); Madras School of Economics; and Reserve Bank Staff College, Chennai. He has also provided training for lateral recruits for Union Public Service Commission and ICICI Bank.
Prior to joining the Graduate Program in the Department of Economics, Utah State University, Professor Banik has worked as a Research Officer with Rajiv Gandhi Foundation, New Delhi and Senior Business Analyst with DTA Consultancy Firm, New Delhi.
He has publication in International Review of Economics and Finance, Review of Development Economics, Development Policy Review, Journal of World Trade, Asia Pacific Trade and Investment Review, Asian Development Bank Working Paper, Economic and Political Weekly, Foreign Trade Review, etc. He has contributed in an edited volume with the publisher, like, Elsevier, Springer Verlag, Routledge, etc. He also has the distinction of writing editorials for all English dailies in India, and has written over 150 editorials.

Journal Articles

Selected Publications

Media Coverage

Some project reports, and invited lectures, covered by the Media

Root Cause of Farm Distress

What we can hope to get from Budget 2018?


Discussion on Budget 2018

KIEP, South Korea

MANILA, 2019.

Presentation at WTO

Newspaper Articles

Selected Popular Writing

Handling Our Worldly Problem
The Economic Times, 21 October 2023

Will Indian Stock Markets Feel the Tremor of a Polycrisis?
The Wire, 19 October 2023

Battling Deadly Disease X
The Economic Times Prime, 13 October 2023

Necrocapitalism and the Dark Side of India's Gig Work Economy
East Asia Forum, 23 September 2023

Tomayto, Tomahto, Tomatters
The Economic Times, 15 July 2023

Post-COVID, There's a Danger of Cartels Forming in Many Sectors
The Wire, 23 June 2023

The Story of the US Debt Ceiling! Will it be Breached or Not?
The Times of India, 24 May 2023

How Did the US Hit the Debt Ceiling and What will Happen Now?
The Wire, 24 May 2023

A Knotty Affair: India's Burgeoning Population and Stagnating Middle Income
The Wire, 26 April 2023

Why the News of Dollar's Demise is Greatly Exaggerated
The Wire, 14 April 2023

A growing obsession to drop dollar may create opportunities for China's yuan
The Economic Times, 10 April 2023

Learning from SVB and Credit Suisse: Two Tales of Systematic and Unsystematic Risks
The Economic Times, 23 March 2023

The Long and Short of the War
Hindu Businessline, 23 February 2023

Is the West Caught in the Ukraine Trap
The Times of India, 18 February 2023

Why 2023 Promises to be a Rough Year for India's External Sector
The WIRE, 29 December 2022

The economy in a Sour-Sweet Spot
Hindu Businessline, 28 December 2022

Green Energy for World Peace
Hindu Businessline, 08 November 2022

The Import of Imports
Economic Times, 06 October 2022

New British Prime Minister Has a Tough Task To Contain High Inflation
The Hitavada, 9 September 2022

Why India's Growing Current Account Deficit Could Prove to be Achilles' Heel for RBI
The WIRE, 7 September 2022

Why Tightening Monetary Policy May Not be Effective
Times of India, 5 August 2022

Rupee @ 80: The Story Can Get Grimmer
Times of India, 20 July 2022

What Driving the Current Bout of Inflation
Hindu BusinessLine, 11 August 2022

High Inflation, Low Incomes, Budget Deficit: Here's What is Pushing Europe into an Economic Dark Age
Economic Times, 12 July 2022

You cannot Fight a Pandemic Without IP
Times of India, 26 May 2022

Digital Currency can Fix the Inflation Problem
Hindu BusinessLine, 18 May 2022

All is Not Well With India's Gig Economy
The Wire, 09 May 2022

Why America Gains from Sanctions, and Not Intervention
Times of India, 14 March 2022

As Chinese Stainless Steel Imports Surge, India's MSMEs feels the Heat
Economic Times, 20 January 2022

Budget must revive floundering MSME sector, backbone of India's economy, hit hardest by pandemic
National Herald, 22 January 2022

The China Effect: Sounding the Death Knell of Many Domestic Industries
Business Today, 13 December 2021

Small Farmers and the Farm Laws: An Introspection
Northlines, 26 November 2021

Outside this Field of Play
Economic Times, 22 November 2021

As India Tries Targeted Intervention to Improve Exports, there are Creases that Need to be Ironed Out
Economic Times, 1 November 2021

A Taliban-led Afghanistan and the Chinese Conundrum
The Hindu, 7 September 2021

Modi government has failed to utilise technology to ensure inclusive economy
National Herald, 7 August 20211

Lax Attitude, Population Density: the virus superspreaders beyond Religious, Political Gathering
The Economic Times, 28 April 2021

Health Spending, COVID-19 and Desired Outcome
The WIRE, 31 March 2021

MGNREGA: what workers really think about the programme's effectiveness
The Economic Times, 12 December 2020

How Really Influential are our Elites
The Economic Times, 2 November 2020

The Promise of a free-COVID Vaccine! Is it Achievable?
The Times of India, 1 November 2020

Lockdown in the time of Pandemic: A Story of Life Versus Growth
The Economic Times Prime, 13 April 2020

More than Curve-Flattening Curbs
The Economic Times, 9 April 2020

Forget Trump's GST Angst. How Can Modi Make India's Exports More Competitive?
The Wire, 3 March 2020

Coronavirus Outbreak: How Prepared is India to Handle Such a Health Catastrophe, If it Hits us?
SWARAJYA, 27 January 2020

The Great Gig Not Just in the Sky
The Economic Times, 13 December 2019

Why Trump's Trade War with China Actually Hurts Bejing Less
The WIRE, 14 September 2019

Ayushman Bharat: It's crucial to ensure easy access to life-saving foreign medicines in Indian markets
The Financial Express, 25 September 2019

In these Economic Times
The Economic Times, 01 July 2019

Heeding social sectors
Millennium Post, 04 July 2019

Business Courses that make students industry-ready
Times of India, 01 April 2019

Informed Choice
The Hitavada, 30 April 2019

What do they Really want?
The Economic Times, 23 April 2019

Reading Between the Lines, from Pulwama to the Balakot Airstrike
The WIRE, 05 March 2019

Creating Job Out of the Mixer
The Economic Times, 29 January 2019

Agricultural reform: How to boost farmer income – Decoded here
Financial Express, 18 December 2018

Why India needs to take technology seriously
The Economic Times, 22 October 2018

India Must Move Beyond IPR-Protection to Focus on Better Health Outcomes
The WIRE, 03 October 2018

Solutions beyond farm loan waivers
liveMINT, 10 September 2018

It will take more than a Parade to Strengthen Trade and Economic Ties with ASEAN
The WIRE, 06 July 2018

Protectionism not good for growth
Bangkok Post, 09th July 2018

Not farm loan waiver, what small and marginal farmers need is more e-mandis
The WIRE, 03 June 2018

Loan Waiver - Panacea for Rural Distress
Financial Express, 29 May 2018

Indonesia has a key role in WHO assembly
Jakarta Post, 24 May 2018

WHO's new leadership on the wrong track
Business Times, 17 May 2018

NAFTA, global trade deliver health benefits to vast majority
THE HILL, 25 November 2017

Injecting Innovation in Pharma Sector
Financial Express, 22 November 2017

Decoding the Great Demonetization Puzzle
Kashmir Times, 12 November 2017

EAC and the Technology Bug
Financial Express, 23 October 2017

Decoding the Great Demonetization Puzzle
The Wire, 8th November, 2017

The Technology Bug that India's Economic Advisory Council Must Tackle
The Wire, 23rd October, 2017

There are simple ways government can get better medicine to world's poor
Financial Post, 8 June, 2017

As India's Economic Indicators Slump, FDI Inflows Have Never Looked Better. Why?
The Wire, 21 June 2017

Drug Costs: Patent Delinkage No Panacea
Financial Express, 01 June 2017

When it Comes to One Belt One Road, Should We Fight or Learn from China?
The Wire, 10 May 2017

Curricular Scan
Times of India, 15 May 2017

Decoding the Agony of Indian Farmer
The Wire, 25 April 2017

War, Economy, and the People
Millennium Post, 25 April 2017

Toilet is Far from Being a Prem Katha
Times of India, 20 April 2017

Will Trump Change Track?
Economic Times, 18 February 2017

India's Budget and the Macro Puzzle
Times of India, 1 February 2017

If You Also Had These Questions About the Budget, Here Are the Answers
Swarajya, 2 February 2017

Budget Must Provide More Funds to Poor
Kashmir Times, 30 January 2017

Clarity Begins at Home
Economic Times, 17 January 2017

The Economic Factors Behind the Trump Triumph
The WIRE, 10 November 2016

Cashing in on Demonetisation
Financial Express, 30 November 2016

India's Demonetization: Time for a Digital Economy
The Diplomat, 1 December 2016

Asia's Pharma Investment Shows the Benefit of Patent Protection
Wall Street Journal, 17 August 2016

The Real Reasons Why Swachh Bharat Is Floundering May Surprise You
Huffington Post, 12 August 2016

Election Freebies Are Generating Public Debt, but Voters Don't Seem to Care
The WIRE, 17 May 2016

Patents Don't Affect The Prices Of Medicines As Much As We Think They Do
Huffington Post, 16 May 2016

Injecting Innovation into Indian Pharma
The Hindu Business Line, 5 May 2016

India Needs More Tie-Ups to Boost Pharma Sector
The Financial Express, 4 May 2016

As Global Trade Slows, India Needs to Start Firing on All Cylinders
The WIRE, 8 April 2016

Why is 'Clean India' Losing Steam?
The Diplomat, 9 February 2016

India Looks to Improve African Health
Business Day BDlive, 01 December 2015

Investing in Health Will Help Indians and Africans, and Cure India's Ailing Exports Too
The WIRE, 28 November 2015

The Wall Street Journal (10 November 2015)

CATCHNEWS (8 November 2015))

The WIRE (18 October 2015)

Payment Banking - A Way Forward for Financial Inclusion
Business World (21 August 2015)

The Present Greek Crisis in Perspective
Business World (6 July 2015)

Government Intervention Yes, but Target it Better
Financial Express, 28 April 2015

Seeds of Farmer Suicide
Financial Express, 11 May 2015

To Make in India, Look East
The Diplomat, 5 May 2015

Why Budget FY16 Makes Sense
Financial Express

What Defines a Good Budget
Market Express

Business World

How much of an onus is PMJDY on Indian Banks
Market Express

The G20 must find a growth strategy

For a Cleaner India

Making the "Make in India" Brand

Increase the base, not the rate (Financial Express)

The present growth crisis in perspective

Is Rupee the real culprit for India's exports slowdown

RBI's move unlikely to calm inflationary trend

Textiles policy indifferent to languishing mill sector

Export growth this fiscal mask serious distortions

Coping with a World without QR
(The Economic Times)

India and the Post-Seattle Agenda
(The Economic Times)

Bound rates and the Safeguards Provisions
(The Economic Times)

Non-tariff barriers and the millennium round
(The Economic Times)

Strategies for Cement
(The Economic Times)

Antidumping Duties - Handle with Care
(The Economic Times)

Only Competition is Worth Fighting For
(The Economic Times)

Banned goods find outlet in LDCs
(The Economic Times)

Misuse of quota allocations under MFA
(The Economic Times)

Hedging in Risky Markets, with Beta
(The Economic Times)

An Inedible Course to Run
(Business Today)

School for Scandal
(Business Today)

Rickety Regulations
(Business Today)

Agro-symphony may go to seed
(Hindustan Times)

Bottles Up
(Hindustan Times)

The Telecom Tangle
(The Sunday Pioneer)

Lesson from Microsoft
(Indian Express)

Opportunity or Menace
(Indian Express)

Liberalization: The Mantra for Progress
(The Statesman)

States Feel the Heat of WTO
(Deccan Chronicle)

India Enters the Global Bazaar
(Deccan Chronicle)

Seeing through the illusion of Progress
(The Telegraph)

Export Sops are Skin Deep
(The Telegraph)

No Charge from the Populist Brigrade
(The Telegraph)

How to stop going about a vicious circle
(The Telegraph)

India Beckons Foreign Car Makers
(Financial Express)

How the EFC Formula Works
(Business Standard)

Working Papers

Recent Publication

IPR Waiver in Vaccines and Opportunities for India: What Does Data Show?

Influencing Factors of COVID-19 Spreading: A Case for Government and Divine Intervention

Abolishing Pharmaceutical and Vaccine Tariffs to Promote Access

Could Online Gig Work Drive Economic Growth

Is Loan Waiver a Panacea for Rural Distress?

Farmer Distress: Analysis of Intervention in Rajasthan

Why Free Trade is Good for your Health

Farmer Distress: Analysis of Intervention in Andhra Pradesh

Farmer Suicides in India and the Weather God

Demystifying the Role of 'Barriers at and behind the Borders in India: A Case of Pharmaceutical Products.
http://www.nilanjanbanik/workingpaper/Demystifying the Role of Barriers.pdf

Farmer Suicides in India and the Weather God

Demand for Household Sanitation in India using NFHS-3 data

Pharmaceutical tariffs, trade flows and emerging economies.

Demand for Household Sanitation: The Case of India

The Red Corridor Region of India: What Do the Data Tell Us?

The G-20: Challenges and Opportunity Ahead

India-ASEAN Free Trade: The Untapped Potential

Global Value Chain: Reframing the Case for India

The Dynamics of Income Growth and Poverty: Evidence from Districts in India By, Anurag Narayan Banerjee, Nilanjan Banik, and Jyoti Prasad Mukhopadhyay

Socioeconomic Impacts of Cross-Border Transport Infrastructure Development in South Asia

The Indian Economy

A Macroeconomic Perspective


This book is about how macroeconomics work for a developing country like India. In India, the standard practice has been to teach macroeconomics using textbooks that are written in context of the developed economies such as Western Europe and Northern American economies. These books put more emphasis on macroeconomic theories without explaining much about how macroeconomics really works. The way economy works for a developing country like India is different and certainly needs a different treatment. This book fill in this void. It is a great book to have for any aspiring student preparing for a competitive exam such as UPSC, any MBA student, and in general for anyone who is willing to understand how economics work. Must read.

Author / Editor

Nilanjan Banik

Nilanjan Banik is PhD in economics from Utah State University, and MA in economics from Delhi School of Economics. His works focus on the application of time series analysis in issues relating to international trade, market structure, and development economics. Nilanjan has project experience with Australian Department of Foreign Affairs and Trade, Australia; Laffer Associates, USA; Ministry of Commerce, Government of India; Research and Information System for Developing Countries (RIS), New Delhi; Indian Council for Research on International Economic Relations (ICRIER), New Delhi; Centre for Economic Policy Research, UK; Asian Development Bank Institute, Tokyo; Asian Development Bank, Manila; South Asia Network of Economic Research Institutes (SANEI); UNESCAP-ARTNeT, Thailand, and World Trade Organization, Geneva.
At present, he is associated with Bennett University, India. In the past, he was, Professor and Program Director with the Institute for Financial Management and Research (IFMR), Chennai. He has been on the faculty at Utah State University, USA; University of Durham, UK; University of Greenland, Nuuk; Mahindra Ecole Centrale, Hyderabad; IFMR, Chennai; Indian Institute of Management (Indore, Nagpur, Rohtak, and Ranchi); Madras School of Economics; and Reserve Bank Staff College, Chennai. He has also provided training for lateral recruits for Union Public Service Commission and ICICI Bank.
He has published with several leading journals in addition to contributing to edited volumes. He also has the distinction of writing editorials for all English dailies in India and has written over 150 editorials.

Get In Touch

Nilanjan Banik
Professor and Program Director (BA, Economics and Finance)
School of Management, Mahindra University, India
Phone: +91 9703302244
Postal Address: Mahindra University, Survey No: 62/1A, Bahadurpally,
Jeedimetla, Hyderabad, Telangana 500043

Contact details

+91 09703302244

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