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The Union government appointed on Friday Krishnamurthy Subramanian, associate professor of finance at the Indian School of Business (ISB), Hyderabad, and an expert in banking, corporate governance, and economic policy, as the new chief economic advisor (CEA). The appointment comes almost six months after Arvind Subramanian’s abrupt resignation from the position.
The appointment is “for a period of three years w.e.f. the date of his assumption of charge of the post, or until further orders, whichever is earlier”, the finance ministry said in a tweet.
October 2025
As India’s growth story gains momentum and the number of billionaires rises, the country’s luxury market is seeing a boom like never before, with the taste for luxury moving beyond the metros. From high-end watches and jewellery to lavish residences and luxurious holidays, Indians are splurging like never before. Storied luxury brands are rushing in to satiate this demand, often roping in Indian celebs as ambassadors.
Subramanian, who has an MBA and a Ph.D. (finance) from the Booth School of Business, University of Chicago, is also on the boards of Bandhan Bank and the National Institute of Bank Management. He also serves as a member of the Securities and Exchange Board of India’s standing committees on alternative investment policy, primary markets, secondary markets, and research.
His predecessor Arvind Subramanian was picked by Prime Minister Narendra Modi for the CEA’s post in 2014, after former International Monetary Fund (IMF) chief economist Raghuram Rajan took over the reins of the Reserve Bank of India.
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