Presentation of India Exim Bank International Economic Research Annual Citation (IERA Citation) 2023 by Dr. V. Anantha Nageswaran, Chief Economic Adviser, Government of India, Department of Economic Affairs, Ministry of Finance, to the Citation winner, Dr. Rahul Rao in the presence of Dr. Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development (ISID), and Ms. Deepali Agrawal, Deputy Managing Director, Export-Import Bank of India at the IERA Citation Function held in New Delhi on January 20, 2025.  

New Delhi: January 20, 2025: Dr. Rahul Rao was declared the winner of Export-Import Bank of India’s (India Exim Bank’s) International Economic Research Annual Citation (IERA Citation) 2023 for his doctoral thesis titled “Essays on Misallocation”. India Exim Bank’s IERA Citation 2023 was announced by Ms. Deepali Agrawal, Deputy Managing Director, India Exim Bank, at a function held on January 20, 2025, in New Delhi. The Citation comprises prize money of ` 3.5 lakh.  The function was graced by Dr. V. Anantha Nageswaran, Chief Economic Adviser, Government of India, Department of Economic Affairs, Ministry of Finance, and Dr. Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development (ISID). India Exim Bank’s occasional paper based on Dr. Rao’s Citation-winning thesis was also released on the occasion.

On this occasion Dr. V. Anantha Nageswaran commended India Exim Bank for its continuous efforts to promote economic research, which contributes to effective policy formulation thereby facilitating inclusive and sustainable growth. He opined that reallocation of land to sectors performing better is important. Although higher productivity will lead to decline in agricultural prices, the food security issue will ensure better terms of trade for the farmers. Dr. Nageswaran also pointed out that land use in India is often constrained by regulations, leading to its suboptimal utilization. Concluding his remarks, he underscored the importance and contemporary relevance of Dr. Rao’s thesis for India’s growth trajectory. 

Ms. Harsha Bangari, Managing Director, Export-Import Bank of India in her welcome remarks welcomed the esteemed dignitaries and participants to the function.  Ms. Deepali Agrawal, in her opening address highlighted that the IERA Citation, instituted in 1989, currently in its 35th year, is given to Indian nationals for their outstanding doctoral dissertations in the area of international economics, trade, development and related financing from Indian or foreign universities. This initiative is part of the Bank's enduring commitment to promote research in the areas of contemporary relevance in international economics and acts as a catalyst to encourage further research in these areas. She emphasised that as the world witnesses post-pandemic recovery, climate change, and geopolitical shifts, the quest for sustainable and inclusive growth has never been more critical.   

The Winning Thesis
Dr. Rahul Rao received his doctoral degree in 2023 from the Indian Institute of Management, Bangalore. The thesis was written under the supervision of Prof. Chetan Subramanian; Prof. Kunal Dasgupta; Prof. Ashok Thampy and Prof. Murali Srinivasan. 

India Exim Bank’s IERA Citation 
India Exim Bank’s IERA Citation represents the Bank’s ongoing efforts at promoting research and analysis in the area of international economics, trade & development and related financing.

To know more about the past winners of IERA Citation, please visit: https://www.eximbankindia.in/citations.aspx 

For further details please contact: Mr. David Sinate, Chief General Manager, Research & Analysis Group, Export Import Bank of India, 8th Floor, Maker Chamber IV, Jamnalal Bajaj Marg, Nariman Point, Mumbai – 400021, T: 91-22-22860310, E-mail: dsinate[at]eximbankindia[dot]in