December 23, 2013—Nathan India just turned five and is ready to expand services in a nation trying to clear obstacles to its full economic potential. The subsidiary of Nathan Associates Inc. celebrated its fifth anniversary on December 6, 2013, at the Taj Mahal Hotel in New Delhi, an occasion for dinner, drinks, and networking. Dr. Pronab Sen, Chairman of the India’s National Statistical Commission, released Nathan’s latest study, Economic Regulation in a Liberalized Economy: Relevance and Challenges in India, at the event. A panel of Indian public and private sector experts then discussed the state of regulation in India.
Nathan India opened its doors in 2008. That was two years after Nathan Associates prepared a report for Nasscom, India's trade association for the IT industry on the Role of Information Technology in the Economy of India. India had modified its regulatory structure as an offshoot of liberalization that began in 1991, contributing to a period of economic expansion.
''We realized that we had a lot that we could contribute to India’s vibrant and growing private sector, and a government that was opening up markets and looking to make economically grounded public policy decisions,'' John Beyer, chairman of the board of Nathan Associates, said in remarks prepared for the celebration. "As India prepares for the second wave of reforms, we believe a coherent policymaking process based on facts, evidence, and rigorous analysis of impact is a precondition for success."
During the past five years, Nathan India has analyzed many sectors in India, including airlines, energy and financial services, as well as regulation and the competitive environment. The research has produced results, including a change in how airlines price tickets. Economic Regulation in a Liberalized Economy calls for India to streamline its regulatory structure and improve the quality of data as well as training for regulatory staff.
"The role of regulators assumes preeminence as markets are further opened up to competition," Dr. Beyer said. “Economic analysis becomes critical as regulators set about framing and implementing progressive regulations. The private sector would have to become more competitive as regulators set about framing and implementing progressive regulations."
Earlier in 2013, Vijay Kumar Lakhanpal, a 25-year veteran of the Indian Economic Service and former economic consultant, joined Nathan India as executive director. Mr. Lakhanpal will be responsible for the continued growth and profitability of Nathan Economic Consulting India Private Ltd., as Nathan India is formally known. Dr. Tamara, who engineered the success of Nathan India, will remain as managing director.
Mr. Lakhanpal's years of government service have given him a deep understanding of India's political economy along with experience dealing with multiple stakeholders, including extensive interaction with various financial, banking, and multilateral agencies as well as industry groups. In addition to his familiarity with business practices and corporate culture, he knows the intricacies of undertaking and guiding quantitative and qualitative research.
Nathan India, which has offices in New Delhi and Chennai, provides a range of services. Among these are economic impact analysis, market surveys, and econometric analysis of survey data. Clients include Indian banks, providers of analytical services, and conglomerates.