Saumitra Chaudhuri, former member of the Planning Commission and Economic Advisory Council to the Prime Minister, passed away on December 18. His death, at 62, was way too early for a mind that was so active having a voracious appetite for knowledge.
Saumitra’s contributions to economic policymaking in India are well known. Whether it was a question of how best to reduce poverty, the right policy mix to promote economic growth or the appropriate technical solution to increase our exports, it was his view that was most keenly sought by the highest authorities. Saumitra had that rare quality of knowing every arcane detail but not missing the big picture — a skill that is critical to good policymaking.
To his friends and intellectual collaborators, “Chow” — as he was affectionately known — was a legend. His scholarship and knowledge outside of economics was staggering. Whether one wanted to talk about global warming, discuss the growth of shale oil or argue about the role of caste and religion in Indian politics, he knew it all to the finest detail. And, this was the key — a strong overarching view after delving into every intricate detail on issues.
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What is less well known about Saumitra in India is, how highly regarded he was internationally. Whether it was officials from the Swedish Employers Federation, executives from the tar oil industry in Canada, economists from the International Monetary Fund or global investment bankers and hedge fund managers, they all sought his views.
The conversations would start with the Indian economy, evolve into discussions about the Chinese economy and could morph into discussions about the eurozone and policies of the Federal Reserve Board.
Meetings that were scheduled for an hour by time-constrained international executives would often spill over into the next hour. Investment bankers often left meetings surprised at Saumitra’s knowledge of their areas of expertise.
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Saumitra’s deep knowledge of issues was not just the consequence of a gifted mind. It was also the product of an unbridled enthusiasm for life that drove him to soak up knowledge and seek friendships from a wide array of disciplines.
His high spirits made people share their insights unabashedly even as they partook of his. His untimely death is a loss for economic policymaking in India and a tragedy for the many who knew the man well.
The writer is a Hedge Fund manager in London. He was previously with the International Monetary Fund and a Fellow of Queens’ College, Cambridge.