One of the most luxurious hotels in central New Delhi is the The Imperial. Richard Branson had just pitched Virgin Media in the side lawn the previous night. Dr. Susan Hockfeld, President of the Massachusetts Institute of Technology (MIT) was visiting along with a bevy of her top Deans. MIT, like many top private universities is eager to expand its relationship with India and with the Indian government. I was invited to attend a day long event there by my colleague, who is an MIT alum resident in India. The Chief Guest was to be the influential former Rhodes Scholar and top government official.
My colleagues sat in the back of the large banquet room because we need to sneak out early. Without any intros or fanfare, a matter-of-fact Sikh gentleman walked up to the mike and began speaking. about the challenges of higher education in India. It took me a couple of minutes to realize that the man at the mike was the powerful Chairman of India’s Planning Commission himself, Dr. Montek Singh Ahluwalia. No fawning sidekicks, not even an intro by the organizer, nothing. Just dive right it to the matter at hand.
In a frank and interactive session he shared the concerns are worries around higher education and research in India’s democracy. My colleague and I ended up staying for his entire session and the talk by Dr. Hockfeld. Ahluwalia was one of the trio (along with Dr. Manmohan Singh and PC Chidambaram) who wrote the blueprint of the radical reform and liberalization of the Indian economy in July 1991.
There are reports today in India’s media that Montek (as the media calls him) may be the next Finance Minister in the new Cabinet to be announced shortly. The role was held by PC Chidambaram earlier but after the Mumbai terrorist attacks, Chidambaram had to take charge of the “Home Ministry” (think of it as Homeland Security, plus and one of the top posts in the Cabinet). Keep your fingers crossed, this developement could be quite good for India and for those who trade with India.
Another report highlighted billionaire Anil Ambani’s visit to Montek’s former office at Yojana Bhavan (Planning House). The Journal pointed out that Montek has resigned from the Planning Commission; but failed to mention that it is customary in India for the entire Planning Commission, and even the Prime Minister and his cabinet to resign after general elections; this clears the way for a “new” government, even if it the old government coming back to power.
