LEPC 4 - first capsule



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Founded in the wake of the financial crisis in 2009, the Institute for New Economic Thinking (INET) is a nonpartisan, nonprofit organization based in New York City devoted to developing and sharing the ideas that can repair the broken economy and create a more equal, prosperous, and just society. INET is dedicated to the rigorous pursuit of innovative economic theories and methods that address society’s most pressing concerns in the following areas: The relationship between finance and the broader economy; Inequality and distribution; The economics of innovation; Environment and resource sustainability.

To meet current and future challenges, INET conducts and commissions research, convenes forums for exchanging ideas, develops curricula, and nurtures a global community of young scholars.

To know more


The Law, Economics & Policy Conference (LEPC) aims to bring together legal, economic and public policy thinkers to consider a variety of real world issues in a holistic manner.

This year, LEPC 4 is a new age virtual series of research papers and interactive discussions. Each capsule within the series will focus on new research involving current and pressing issues facing the region.

Organized by the Institute for New Economic Thinking, the previous three LEPC conferences: LEPC 1 (2016), LEPC 2 (2017) and LEPC 3 (2018) were in partnership with the National Institute of Public Finance and Policy (NIPFP) and were held over two full days in New Delhi. The conference attracted a small but selective group of academics, lawyers, policy makers, business leaders and influencers.

Solutions to normative questions and policy challenges are increasingly sought via interdisciplinary approaches across law, economics, and public policy. As such, LEPC has endeavored over the years to provide a platform where many different voices deliberate on a single issue in an effort to inform policy.


History of the LEPC


to know more about LEPC 2016

(download link for 2016 pdf)


to know more about LEPC 2017

(download link for 2017 pdf)


to know more about LEPC 2018

(download link for 2018 pdf)

LEPC 4.1

The first conference of this virtual multi-capsule conference series will focus on:
Strategic Patience and Flexible Policies: How India Can Rise to the China Challenge


Thursday, April 22, 2021

Meet & Greet:

6:00 pm – 6:30 pm (IST)

8:30 am – 9:00 am (EDT)

1:30 pm – 2:00 pm (BST)


6:30 pm – 7:30 pm (IST)

9:00 am – 10:00 am (EDT)

2:00 pm – 3:00 pm (BST)

Read more about our topic of discussion here:

Paper commissioned by Pune International Centre (PIC)

The Panel


















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Born on 29/12/1959, Dr. Krishnan was educated in Economics at St. Stephens College and Law at the Campus Law Centre University of Delhi & obtained his Ph.D in Economics from IIM Bangalore. He joined the IAS in 1983.

He served as a Secretary Ministry of Skill Development and Entrepreneurship Government of India (GoI) for three years before his superannuation on 31/12/2019. Prior to that he served in various positions in Government of Karnataka (GoK), GoI and the World Bank primarily in the areas of Economic and Macro Policy (Ministry of Finance, Prime Minister’s Economic Advisory Council) and Rural & Urban Development. He has authored a number of reports and published many academic papers. In the year 2012, Dr.Krishnan held the BoK Visiting Professorship in Regulation in the University of Pennsylvania Law School. On 28/12/2017, Dr.Krishnan was conferred with the Distinguished Alumni Award of IIM Bangalore. He currently serves on the boards of a few not for profit foundations as well as for profit corporate entities.

Ajay Shah studied at IIT, Bombay and USC, Los Angeles. He has held positions at Centre for Monitoring Indian Economy (CMIE), Indira Gandhi Institute for Development Research (IGIDR), Department of Economic Affairs at the Ministry of Finance and National Institute for Public Finance and Policy (NIPFP). His research is at the intersection of economics, law and public administration. His second book, co-authored with Vijay Kelkar, “In Service of the Republic: The Art and Science of Economic Policy”, featured in Bloomberg’s global “2020 Best Books on Business and Leadership”. His work can be accessed on his home page (http://www.mayin.org/ajayshah) and on the blog that he edits, (http://blog.theleapjournal.org).

Somasekhar Sundaresan is a counsel practising in litigation in the field of economic and administrative law – primarily involving financial sector regulation, competition law, foreign exchange controls, and corporate laws.

As a member of committees set up by the Government of India, SEBI, and the RBI, Somasekhar has drafted laws governing takeovers, insider trading, and corporate governance of banks. He was actively involved in drafting the Indian Financial Code recommended by the Financial Sector Legislative Reform Commission chaired by Justice B.B. Srikrishna. He sits on the Advisory Committee on corporate insolvency and liquidation of the Insolvency and Bankruptcy Board of India.

Somasekhar writes a fortnightly column titled Without Contempt in the Business Standard, teaches securities law in the Government Law College, and is an amateur mountaineer.

Dr. Ila Patnaik serves as a professor at the National Institute of Public Finance and Policy, New Delhi. Prior to this, she was the Principal Economic Advisor to the Government of India. Other former positions include Non-Resident Senior Associate at Carnegie Endowment for International Peace, and regular columnist at the Indian Express. She holds a BA (Economics) from Delhi University, an MA (Economics) from Jawaharlal Nehru University, and a Ph.D.(Economics) from the University of Surrey. Her research interests include international macroeconomics, finance and emerging economy business cycles. Her research on these topics has been published in scholarly journals such as the Journal of International Money and Finance, the World Bank Economic Review, International Finance, and in collected volumes.

Dr. Patnaik served on various working groups and task forces of the Ministry of Finance, such as those on taxation of financial products, and those to create agencies, including the independent Public Debt Management Agency, the Resolution Corporation, the Financial Redress Agency and the Financial Data Management Centre.

Sunanda Nair-Bidkar began her career twenty seven years ago as an Attorney in the Supreme Court of India, attached to the chambers of K.K. Venugopal, the current Attorney General of India. She has been an in–house corporate counsel for the Essar Group, an associate with a boutique international corporate law firm in New York City, and an intern with the United Nations Agency, the World Intellectual Property Organization (WIPO) in its New York office. Besides advising on corporate law and intellectual property law, her focus has been in International Strategy and Development, especially structuring and facilitating entry into new markets.

In 2011, Sunanda founded Indus Interface LLC, an international strategic consulting firm based in the United States, of which she remains the managing director. Sunanda currently consults as the Director of Strategic Planning, South Asia for the Institute for New Economic Thinking (INET) in New York City. A passionate advocate on education and gender justice, she has served and currently serves on various boards in the United States. Sunanda earned a Bachelor of Arts degree in History with Honors from the Hindu College, University of Delhi, a Bachelor of Laws degree from India’s University of Delhi School of Law and a Master of Laws degree from Columbia Law School in New York.

Manjeet Kripalani is co-founder, Gateway House: Indian Council on Global Relations. Prior to that, Kripalani was India Bureau chief Businessweek magazine, and worked at Worth and Forbes, New York. She won several journalism awards including the Gerald Loeb, George Polk, Overseas Press Club and Daniel Pearl Awards. Kripalani was 2006-07

Edward R. Murrow Press Fellow at the Council on Foreign Relations, New York. She was deputy press secretary to U.S. Presidential candidate Steve Forbes, 1995; press secretary/advisor to Meera Sanyal, independent candidate, Lok Sabha, 2008, 2014. Kripalani holds bachelors degrees in Law and in Arts, Bombay University; master’s in International Affairs, Columbia University, New York; is member, Rotary Club of Bombay.

Ambassador (Retd) Gautam Bambawale was a member of the Indian Foreign Service from 1984 to 2018. He was India’s Ambassador to Bhutan, Pakistan and China.

Bambawale was stationed in Washington DC in 2004-07 during the Indo-US nuclear deal which transformed ties between the two countries. He has been India’s first Consul General in Guangzhou (China) 2007-09. He was Director of the Indian Cultural Centre, Berlin 1994-98.

Ambassador Bambawale worked in the Prime Minister’s Office 2002-04. At the Ministry of External Affairs he was Joint Secretary for East Asia from 2009-2014. Bambawale has dealt with China for 15 years of his 34 year diplomatic career.

Ambassador Bambawale is currently Distinguished Professor, Faculty of Humanities and Social Sciences, Symbiosis International University, Pune and teaches a course on Diplomacy and International Governance at the Symbiosis School of International Studies.

Partner, Samvad Partners Co-Founder, DAKSH & ADReS

Shubhashis Gangopadhyay is currently the Research Director of India Development Foundation, Dean of the Indian School of Public Policy, Chair Professor of Emerging Market Finance in the University of Groningen, Netherlands and Visiting Professor in the University of Gothenburg, Sweden. In 2008, the year of the global financial crisis, he was appointed Advisor to the Finance Minister, Government of India. He was awarded an honorary doctorate by the University of Gothenburg, Sweden, in October 2006. In Sweden, he held the prestigious Malmsten Guest Professorship in 2007 and the Bertil Danielsson Guest Professorship in 2008. He got his PhD in Economics from Cornell University, USA, in 1983; his Bachelor’s degree from Presidency College, Kolkata in 1978; and did his schooling in Calcutta Boys’ School. He joined the Indian Statistical Institute as a lecturer in 1983 and was promoted to full professor in 1991. Between 2003 and 2008, he was the Founder Director of IDF, an independent and self-financed research organization. From 2011 till January 2016 he was the Founding Director (Dean) of the School of Humanities and Social Sciences of Shiv Nadar University. He was the Founder-Chief Editor of the Journal of Emerging Market Finance (Sage Publications). He has published widely in international journals, and has a number of books, in economics and finance. His current research areas cover policy, finance, law and economics of patents and, the concurrent monitoring and evaluation of non-market interventions.

Jessica Seddon is the global lead for air quality at the World Resources Institute (WRI), Senior Fellow at Yale’s Jackson Institute for Global Affairs, and an adjunct fellow (non-resident) with the Wadhwani Chair in U.S.-India Policy Studies at the Center for Strategic and International Studies. At WRI, she leads a team of scientists, strategists, and practitioners who are focused on helping cities and countries manage their air to achieve health, ecosystem, and climate goals. Her own work focuses on the way that new sources of information and environmental awareness can be leveraged to motivate and guide cost-effective strategies for reducing polluting emissions and achieving clean air for all. Seddon also serves on the advisory board of the Wilderhill Global Clean Energy Index (NEX) and the academic councils of Krea University, a new liberal arts initiative in South India, and the Indian School of Public Policy in New Delhi. Prior to joining WRI, Seddon co-founded and led Okapi, an India-based strategy group incubated at Indian Institute of Technology (IIT) Madras that focuses on institutional design for social innovation. Her earlier career spans academic and strategic advisory roles focused on institutional design for integrating science into policy and social initiatives. She has worked with numerous institutions in India, including as visiting fellow at IDFC Institute (Mumbai) and senior fellow at the Center for Technology and Policy, IIT Madras. Seddon has published book chapters and articles on infrastructure, Indian political economy, information technology and governance, environmental regulation, and other institutional design topics in international academic and policy venues, including Cambridge University Press, the Journal of Development Economics, Stanford Social Innovation Review, Foreign Affairs, Bloomberg Businessweek, and Harvard Business Review. Seddon earned her Ph.D. in political economy from Stanford University Graduate School of Business and her B.A. in government and Latin American studies from Harvard University.

He has been a member of the South Asia Chief Economist’s Advisory Council of the World Bank, advisor to the Competition Commission of India, member of the Board of the Centre for Analytical Finance, ISB, the international advisor of the Centre for Law and Economics of Financial Markets (LEFIC) at the Copenhagen Business School and a member of the Bankruptcy Task Force of IPD, Columbia University. Currently, he is on the International Advisory Committee of the School of Business, Economics and Law of the University of Gothenburg. He was an invited keynote speaker at the Centre for Intellectual Property (CIP) Forum in 2011. He is also the Founder-President of the Society for the Promotion of Game Theory and its Applications.

He has led government sponsored studies leading to the steel decontrol in India, dismantling of the administered prices regime and the optimal planning of the use of natural gas for the HBJ gas pipeline. He has worked closely with industry both in India and abroad. He has lectured widely to foreign industry delegations coming to India, attended their world meets as a resource person and has held closed-door, one-on-one discussions with their management teams. Most recently (2018), he was a member on the High Powered Committee on Use of Defence Land.

He has a rich experience of advising students at the PhD level and has a number of students both in India and abroad.