What does a TN minister share in common with Raghuram Rajan?

July 10, 2023 15:30

Pic courtesy: @ptrmadurai

Tamil Nadu's IT minister Dr P Thiaga Rajan shares this post for the answer: "Over the weekend I had the unexpected joy of an engrossing (as always) discussion with Dr Raghuram Rajan who very kindly called on me in Chennai. We have much in common, starting with our last names and extending to views on development and growth -- though our career paths have been very different indeed.

"I first met him over 20 years ago at the Sloan School of Management at MIT, when I was a student, and he was visiting his alma mater on leave from his Professorial role at the University of Chicago. I've followed his work with great admiration: through his roles at the IMF, as Chief Economic Adviser to Prime Minister Dr Manmohan Singh, and then as Governor of the RBI.

"His thought-provoking books -- Saving Capitalism from the Capitalists (2004), co-authored with fellow Chicago Booth professor Luigi Zingales; I Do What I Do (2017), a compilation of his op-eds and talks delivered during his stint as the Governor of the Reserve Bank of India; and The Third Pillar: How the State and Markets are leaving Communities Behind (2019) -- resonate with my understanding of the world and the major issues at stake, developed through my own varied career in Banking and the Global Financial Markets.

"It was therefore a great privilege for me to work directly with him for two years, when he immediately accepted my invitation to join the Tamil Nadu Chief Minister's Council of Economic Advisors back in 2021. Beyond his great erudition and wisdom, I found him to be a true patriot and a deeply compassionate individual -- he was the strongest advocate for what was to become our post-pandemic remedial education program "Illam Thedi Kalvi', and our support programs for MSMEs.

"Though we will not be working together after my Ministerial portfolio change, he remains an inspiration to me, and now a dear friend as well. During our recent discussion he touched upon the book he is currently writing. I think it will provide unique clarity about India's best path for growth, and I can't wait for it to be published. Our chat also inspired me to work on a book of my own, on the lessons learnt during my two years as Finance Minister and a member of the GST Council, as well as some of its Group(s) of Ministers (sub-committees).

"And I look forward very much to his next visit when he has promised to bring his tennis racket along so we can enjoy another shared interest!"

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