Prior to this appointment, Nageswaran worked as a writer, author, teacher and consultant. He has taught at several business schools and institutes of management in India and in Singapore and has published extensively.
Nageswaran’s appointment comes days before the presentation of the Economic Survey, the annual report card of the economy. The document is authored by the CEA and has often been used to push new ideas about economic reforms and strategy.
Nageswaran was also the dean of the IFMR Graduate School of Business and a distinguished visiting professor of economics at Krea University and has been a regular commentator on economic issues. He had also worked for global investment bank Credit Suisse and also for private banking corporation Julius Baer.
He has also been a part-time member of the Economic Advisory Council to the Prime Minister from 2019 to 2021. He holds a post-graduate diploma in management from the Indian Institute of Management, Ahmedabad and a doctoral degree from the University of Massachusetts in Amherst.
Subramanian’s appointment three years ago had marked a break in the practice to have economists working in global institutions as CEAs. Besides Raghuram Rajan and Arvind Subramanian, another US-based academic Kaus- hik Basu was the CEA during the UPA tenure.
In 2018, the Centre had appointed Subramanian, an associate professor at the Hyderabad-based Indian School of Business as the CEA, nearly six months after Arvind Subramanian stepped down. The Economic Survey for 2020-21 had forecast GDP growth to rebound to 10. 5% and forcefully articulated that the economy will register a V-shaped recovery. Recent data has pointed to a robust V-shaped recovery for the economy. The survey had also articulated the need for deep structural reforms against the backdrop of the Covid-19 pandemic.