1. "Ease of doing business in Maharashtra" - Nirupama Soundararajan and Gunja Kapoor

    With one of the highest recipients of FDI, and highest gross state domestic product, it is imperative that the ease of doing business is high in the state. The project aims to assess ease of doing business in Maharashtra and make related recommendations to the Hon’ble Chief Minister of the State.

  2. "Vision for Indian Fintech Ecosystem" - Saurabh Roy and Gunja Kapoor

    Technology, competency, investments, regulations, policy frameworks, and innovation will create a favourable climate for fintech to grow and develop in India. Fintech companies’ innovations and consumer adoption has forced regulators to relook at their existing framework and policies to align them with an environment that where fintech is the underlying theme. For success of fintech, it is imperative that all stakeholders engage and work in tandem. Exchange and debate of ideas would allow the marketplace to work towards a common goal of financial inclusion and making India a less-cash society. In an environment governed by technology, the market infrastructure would be shared by all stakeholders reinforcing the need for all participants to coexist.

  3. "Impact of Commodity Transaction Tax (CTT) on Gold Futures Market in India" - Nirupama Soundararajan and Arindam Goswami

    In the Union Budget of 2013-14, the then Finance Minister of India, Shri P Chidambaram proposed to introduce 0.1 per cent Commodity Transaction Tax (CTT) on sale of all non-agricultural commodity derivatives. While this was imposed on the assertion that “there is no distinction between derivatives trading in the securities market and the commodities market except the underlying product”, the ground realities were different than expected. This paper looks to assess the extent of impact of CTT on the gold futures trade and gold business as a whole. < Download Report >

  4. "Gold Monetisation: Unravelling the Constraints" - Nirupama Soundararajan and Arindam Goswami, April 2017

    The objective of the study is to understand the perceptions of banks and financial institutions around gold as a product and their apprehensions in taking part actively in any monetisation scheme. < Download Report >

  5. "Digital Inclusion: Moving One Step Closer" - Nirupama Soundararajan and Saurabh Roy, October 2016

    Internet based services are expanding in India at a phenomenal rate. Even government has started digitizing its services which can be availed online. To ensure that services are available to every citizen and no one is left out, the government must look at digital inclusion as a policy. We conducted a survey of low-income people to understand the usage of internet and barriers to adoption. < Download Paper >

  6. "Leapfrogging to a New Lifestyle for Sustainable Prosperity: A Blessing, not a Burden" - Dr. Ramgopal Agarwala, March 2016

    By mid-century (2050), per capita incomes of the majority of developing countries could conceivably have "converged" with those of the advanced (G-7) economies. By the end of the century, there will be nearly 7 billion people in emerging economies with average per capita income conceivably equal to that of the developed countries today. The present population in emerging economies, in particular the middle class, is largely seeking to replicate the same lifestyle that characterizes the advanced economies. Such replication will be unhealthy and place immense pressure on natural resources including land, water and environment. This paper argues that emerging economies should not aim at where the advanced economies are or have been but should leapfrog to sustainable lifestyles that the more enlightened countries are trying to adopt. Such leapfrogging would be in the interests of the developing countries while contributing to global wellbeing. < Download Paper >

  7. "Reforms Needed for Power Sector in India" - Rajnish Ahuja, November 2015

    The objective of this report is to address the issue of lowering the cost of energy to all electricity users and thus making the India's economy more competitive consistent with the need of meeting the full cost of production and distribution of power and providing adequate supply of power. The final cost can be lowered by aiming at reforms for the production and distribution companies, improved coal supply at reasonable prices, and improved financing for power projects. For improved supply, availability of coal and other raw materials has to be improved and development of renewables such as wind and solar power has to be accelerated. < Download Discussion Paper >

  8. "Computing the Socio-Economic Value Addition of FDI in the E-Commerce Sector" - Nirupama Soundararajan and Nibedita Saha, November 2015

    India’s retail sector has seen many developments in the last two decades. From a market that had been largely dominated by small traders/kirana stores, India has seen the growth of organised retail and recently, the growth of e-commerce, both Business-to-Business (B2B) and Business-to-Consumer(B2C). While in most countries, these are but different models of the same business (of e-commerce), in India these classifications have different ramifications vis-a-vis foreign direct investment (FDI) participation and policy constraints. In order to understand the full power of the e-commerce sector and specifically the merits of allowing FDI in the B2C segment, this study conducted a detailed primary survey of kirana stores and of the MSME sector. The objective of the study is also to examine some of the common perceptions expressed by stakeholders, specifically, if FDI in e-commerce has resulted in the decline of turnover and/or profit for the traders, and if e-commerce has had any positive impact on the manufacturing sector. < Download Report > < Media Coverage >

  9. "Meal Voucher System in India & Its Fiscal Impact" - Rajnish Ahuja and Nibedita Saha, April 2015

    Meal Vouchers have been important tools in ensuring the social well-being of employees for six decades in the world and for two decades in India. Meal Vouchers form an integral part of modern day work facilities usually replacing office run canteens and thereby eliminating the need for a dedicated canteen area. International experience suggests that Meal Vouchers prove to be efficient in promoting preventive health measures by providing access to restaurants that accept these vouchers and offer healthy and affordable food.

    Pahle India initiated this report aiming at analysing the benefits of the Meal Voucher system in India and calculating its macro-economic effects on the national economy, such as the increase of the national budget revenues through improved tax collection. < Download Discussion Paper >

  10. "Development Plan for Nizamabad Lok Sabha Constituency (Telangana)" - For Ms. K Kavitha, Hon'ble Member of Parliament. Undertaken Rajan Kalsotra, April 2015
  11. "Defence Exports – The Way Forward" - Approach Paper Nitin Gokhale, March 2015
  12. "Make in India in Defence – An Approach Paper" - Nitin Gokhale, February 2015
  13. "Analysis of Centrally Sponsored Schemes and other Legislative Assistance" - Sujoy Mammen Thomas Prepared for Ms. K Kavitha, Hon'ble Member of Parliament, December 2014
  14. "Indo – Vietnam Ties: The Way Forward" - Nibedita Saha, October 2014

    As a curtain raiser to the visit of the Prime Minister of Vietnam on October, 2014, PIF had organised a round-table discussion on 'India-Vietnam Co-operation in Emerging Asia'. The discussion was enriched by the active participation of some of the most experienced and renowned experts on Indo-Vietnamese relations ranging from retired diplomats, defence personnel, faculty from leading think tanks and academia, research scholars and media. The major recommendations that emanated from the discussion to strengthen the bilateral relation to contribute to the peace, stability and development in the Asia-Pacific region are improving connectivity, diversifying Vietnam's export basket to India, increasing FDI flows from India to Vietnam, laying special emphasis of religious tourism, defence co-operation and maritime security and improving legal framework between the two countries to promote trade and business. < Download Report >

  15. "Approach paper for covering broad aspects of Rajasthan's Vision 2020" - Dr. Ramgopal Agarwala with Rajnish Ahuja, AakritiChaudhari, Nibedita Saha and Rajan Kalsotra. Commissioned study for State Planning Board, Government of Rajasthan, August 2014

    The Approach Paper presents broad directions of where the leadership wants the State to go in different sectors. The Vision has been presented largely in bullet form with most of the propositions made in each sector targeting at economic growth in a sustainable manner.

  16. "The middle classes and democracy in India – exit, voice and loyalty" - Dr. Rajiv Kumar Presented at Nairobi, Kenya as part of "Exit, Voice and Loyalty, Middle Class and Democracy in IBSA countries", January 2014
  17. "Current trends in the housing finance sector and projections in 2025 and the current market share and future projections of DHFL housing finance company" - Sujoy Mammen Thomas, January 2014
  18. "Chronic Slowflation in India: Is There a Way out?" - Ramgopal Agarwala, Dr Rajiv Kumar and Nibedita Saha, November 2013
  1. "Reviewing the Regulatory Framework for the Direct Selling Companies in India" - Nirupama Soundararajan and Arindam Goswami

    In India, direct selling and multilevel marketing companies had all been inadvertently bracketed as illegitimate business ventures, pyramid and Ponzi schemes. On several instances, uncovering of a financial scam in India had been equated a multilevel marketing or direct selling scam in both public parlance, in media trials and even at the governance level. This mind set of both consumers and policy makers can be largely attributed to lack of awareness about the direct selling business and the varying regulatory guidelines of the industry. This paper aims to look at the fine prints of the existing regulatory framework and also examine the efficacy of the recent model guidelines on direct selling agencies issued Ministry of Consumer Affairs, Food and Public Distribution.

  2. "Achieving Trade Competitiveness Through Air Express" - Gunja Kapoor and Padmaja Pati

    India ranks 35 in Logistics Performance Index (LPI), compared to China at 27, Taiwan at 25, and Japan at 12[1]. India’s merchandise trade to GDP ratio was 38.5 per cent in 2014 and 31.8 per cent in 2015, reflecting a high cohesion with the global economy. Global trade has burgeoned, by leveraging technology and air express for just in time manufacturing and time bound delivery. Air express not only allows companies to expand their trade footprint irrespective of geographical constraints, it also ensures customer satisfaction through high speed product services.. However, in the absence of a conducive regulatory framework, it would not be possible for the industry to meet the desired goals and become globally competitive. Regulatory challenges involve complex customs processes, limited automation, absence of an end-to-end air express policy, and approval from multiple ministries. Against this backdrop, it is imperative to deliberate solutions and potential policy support that would make the Indian air express industry globally competitive.

  3. "Ease of Doing Business in Rajasthan and Andhra Pradesh" - Nirupama Soundararajan and Shagun Khurana

    India ranks 100 in the World Bank’s Doing Business Report for 2018; a jump of 30 places from last year. The Department of Investment Policy and Promotion, along with the World Bank, has effected a series of business reforms in the last three years and Andhra Pradesh and Rajasthan are among the best performing states. Such rankings are an important determinant of investor perception about the opportunity, attractiveness of the market and the regulatory regime. India is on the correct trajectory, albeit, regulatory challenges persist and include a complex land administration system, continued delays in resolving disputes due to an overburdened judicial system and a plethora of required approvals and licenses. Given this background, Pahle India Foundation has collaborated with the Copenhagen Consensus Centre, to identify and analyse specific policy interventions that can contribute further to an institutional framework that supports an enabling business climate and ensures good governance.