Jottings - Slice of life - 264 ( Gita Gopinath - an incredible academic journey to the pinnacle of her profession)

Jottings - Slice of life - 264 ( Gita Gopinath - an incredible academic journey to the pinnacle of her profession)

Amidst the media and hype a prominent actress is currently attracting because of the sheer scale of her extravagant wedding and the innumerable star studded receptions ; on the other side of the globe, in Washington DC, in a quiet, polished but significant ceremony conducted without much fanfare, a young and distinguished Indian economist who was serving as John Zwaanstra Professor of International Studies and Economics at Harvard, has taken over the mantle as chief economist of the IMF ( The International monetary fund), a global organization established in 1944 at Bretton woods to balance and arbitrate global economic health in times of need . It is one of the most prestigious positions in the world of global finance, and Professor Gita Gopinath is the first woman - among the eleven economists to have held this vital position since IMF’s inception - to occupy this honorable chair, and what more!! She is only 47 years of age. A glance at Gita’s picture, and one observes an young, dusky, beautiful lady from southern India; with sharp features and deep black eyes that sparkle with intelligence; slim and petite; with wavy hair let loose, and often falling over her eyes when she passionately argues her economic theories; a disarming smile constantly adorning her fluid face ; a down to earth demeanor that doesn’t betray the prodigious academic accomplishments she so lightly carries on her fragile shoulders; and above all the fact that Gita was nominated and confirmed for this position among stalwarts in the field is an achievement of the Mind that far exceeds anything that physical beauty can buy or attract. Gita was formally appointed to the post in the October of last year as Chief economist designate, and this January, she formally took over from Maurice Obstfeld the full scope of the role.

Dr Gita Gopinath’s parents are from Kannur, Kerala, but, Gita was born and bought up in Mysore, Karnataka. With schooling in Nirmala convent, a conservative school that laid the rudiments of her basic education, she travelled to Delhi’s prestigious Sriram College for her Bachelors degree. The year was 1991, and Dr Manmohan Singh had just then opened the doors of Indian economy. Gita was caught in the excitement of liberalization and the reaction of world markets to brave economic decisions made by the brilliant academician turned Finance minister. It didn’t take Gita much time to understand where her passion and career lay. It was in Macro economics. Having decided her area of study, and with excellent academic track record, she joined another prestigious institute in Delhi - the Delhi school of economics - the only place in India where the best economists come to teach, and was considered the simmering cauldron of ideas from which fumes of fresh economic perspectives arose. Within the spacious campus of the college, she found kindred souls who debated and argued on the future of India’s position in the world. After all, it was a great time to learn economics; India was liberating itself from the clutches of State controlled economy to laissez faire market place. Gita , as always, excelled in academics during her tenure a Delhi school of economics, and not surprisingly, emerged with her masters in the field with a Gold medal to top her achievements in the university. Along with her Master degree, she also found her future husband in a class mate: Iqbal Singh Dhaliwal , who was, like her passionate about economics, especially about methods and policies conducive to alleviating poverty. It was a good match, the two minds were in harmony. Iqbal would later go on to establish himself as an authority in his field at MIT ( Massachusetts institute of technology). Anyway, In 1996, for two bright and sizzling minds fresh with their academic accomplishment, the next destination was a doctorate in the USA, and Gita chose Princeton to complete her Ph.D under Ben Bernanke, the former chairman of the Federal reserve Bank - a great accomplishment by itself. That formally culminated a long and brilliant academic journey, and at the age of 31, Gita was ready to test her theories and was accepted as Associate professor of Economics in University of Chicago. From there Gita moved to Harvard in 2005, and grew in stature with each passing year, establishing herself as one of the foremost exponents of macro economic principles of trade, debt and monetary policies and their effect on global markets. With numerous papers, articles and talks under her belt, she was widely recognized by International bodies and institutions who regularly invited Gita for academic tenures to share her breadth of insights. Even Governments sought her advice, and she generously gave it with her trademark smile and brilliance.

Her only brush with controversy so far in an otherwise spotless academic life was her appointment in 2016, as economic adviser to the Kerala government. The chief minister of the state Mr Pinarayi Vijayan hails from Kannur, and many felt he was biased in appointing a home town girl to guide a politically and socially sensitive state. Nothing could be further from the truth. Gita made it clear that her tenure at Harvard took precedence over anything else; however, she was available to the chief minister should he choose to consult her. Kerala is a predominantly leftist state, and it is not surprising that they took objection to a lady who only believed in free markets. As of yesterday, Gita has formally resigned from her post as adviser to Kerala given her current appointment as chief economist in the IMF. On a side note, It is matter of concern that India has not been able to retain economists of world stature in positions of importance. Raghuram Rajan, Arvind Subramaniam and now Gita Gopinath have found their place and peace in International bodies outside the country, and the Indian government is happy to let go and bless them wherever they are. It is ironical indeed. The first two - raghuram and Arvind - were openly critical of idealogical interference in economic policy making. Both wrote books, and went back to their professorial jobs, not wanting to do anything more with politics. It isn’t that Raghuram and Aravind were unpatriotic in doing so; they simply couldn't find the freedom to operate purely on economic rationale for which they were best equipped . Anyway, that’s a story for another day.

Indians are doing well globally in great positions. It feels good that we are recognized for positions of global importance. One of the greatest merits of the US has been its strength to provide a level playing field for all. Over the years, the rules may have changed a bit; but hands down, this is the only country which grants anyone with right talent the means and opportunities to flower. Sundar Pichai, Satya Nadella, Francisco D Souza of Cognizant, Gita Gopinath and many more are living testimonies to this fact. Anyone who say otherwise have motives that aren't generic. Getting back to Gita, I happened to watch her on television for the first time in a panel discussion with Prannoy roy in 2016 during the world economic forum held in Delhi. It was wonderful discussion, and I remember Prannoy introducing Gita as the most intelligent of the panelists. She smiled without a sense of importance, and innocently brushed that compliment away . Watching her talk that day , I was impressed with her command of facts and articulation of it. She needed no notes, and her contributions were laced with dignity and humility. Every now and then, the camera would focus on her, and one could sense her intelligent, bright eyes focussed, sparkling as she listened to points deliberated in the discussion. Since that time, I have regularly watched her international talks and presentations on youtube, whenever it shows up.

I am sure, for Gita, the role of Chief economist is one more step in her magical academic journey. Now the world is her stage. I join all of you in sending out our best wishes to her on this incredible honor.

God bless…

yours in mortality,

Bala