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Sanchit Arora
Sanchit Arora is an Economist working with Ernst & Young India (EY). He works at the intersection of economics, artificial intelligence, and technology in the government and public sector. He has a Ph.D. in Economics and Masters in Economics from Indira Gandhi Institute of Development Research (IGIDR), and an advanced studies certificate in International Economics from Kiel Institute for the World Economy (IfW), Germany. He has earlier worked with Nielsen and CRISIL. His research work primarily focusses on macroeconomic issues in India, where he employs econometrics, machine learning, and time series analysis to better understand macro-dynamics.
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How open is India's capital account?
Although India began opening up its capital account in the mid-1990s, the approach towards financial liberalisation has been cautious. Tracing changes in the de-facto openness of the country’s capital account over time, Aggarwal et al. contend that greater financial integration with global markets along with monetary policy autonomy to successfully pursue an inflation target, reduces the policy space available to the RBI to stabilise currency fluctuations.
