WORKING PAPERS
“Sluggish Growth or Premature Decline? A Comparative Study of Indian Industrialization with China” (Submitted)
Abstract: Indian manufacturing has remained stagnant in terms of its share in value-added and employment despite India and China starting their growth journeys around the same time. While China underwent rapid industrialization, India’s manufacturing sector stagnated, and its services sector boomed. This paper uses a dynamic open economy general equilibrium model with endogenous capital accumulation and income and price effects to compare the structural transformations of India and China. The findings reveal that India’s sluggish manufacturing growth is largely due to slow productivity growth and low investment rates. However, Indian manufacturing has not yet declined prematurely, but it has yet to take off. If India's TFP had grown at the same rate as China’s, the manufacturing share would have increased by 1.5-fold, and per capita income would have risen by more than double. Export-promoting industrial policies and increased investment could drive further growth in the manufacturing sector.
Presentation: 7th Annual Conference, AMSoM Ahmedabad University 2026 | RBI Chair Unit Quarterly Seminar in GIPE Pune 2025 | Midwest Macro Meetings in FED Kansas City in 2025 | 94th SEA Annual Meetings in Washington DC 2024 | 61st MVEA Annual Meetings in Kansas City 2024
Award: Notable Graduate Student Paper 2025 (MVEA); Best Paper (Macroeconomics) Award at Annual Conference, Ahmedabad University 2026
“Stagnant Manufacturing in India: The Role of TFP and Trade”
Abstract: Manufacturing is crucial for economic development, yet it faces stagnation or decline in many developing and underdeveloped countries today. India, in particular, has experienced stagnant manufacturing while its services sector has thrived. This paper employs a three-country, three-sector open economy general equilibrium model to investigate the reasons for India’s manufacturing stagnation. The findings indicate that while trade has provided some compensation, sloppy total factor productivity (TFP) growth is the primary cause. Moreover, TFP growth and trade liberalization alone cannot fully account for the prolonged stagnation of India's manufacturing sector in this model environment.
Presentation: 2nd ACEP at Jindal School of Government and Public Policy 2024 | 58th CEA Meetings in Toronto 2024 | 88th MEA Meetings in Chicago 2024 | EGSA Seminar Series at ISU 2024 | Macro Study Group at ISU 2022
WORK-IN-PROGRESS
"Missing Women, Missing Growth: Female Labor Force Participation and Manufacturing Stagnation Across India" (with Shreya Bhattacharya)
Abstract: Historically, manufacturing sectors in developing countries have provided large-scale employment opportunities for semi-skilled women, and stagnation within the sector restricts non-agricultural employment options for low-skilled female workers, compounding the challenge of low female labor force participation (FLFP). In turn, persistently low FLFP further constrains the growth of labor-intensive manufacturing, creating a self-reinforcing cycle that traps many developing economies. The paper asks the question of whether these two phenomena are interconnected. Does low female labor force participation directly constrain manufacturing sector growth in low-income countries? We provide empirical evidence supporting this phenomenon by examining Cross-country variation as well as state-level variation within India. The paper also develops a heterogeneous agents structural transformation model in which male and female workers encounter distinct labor market conditions, with implications for unbalanced sectoral growth trajectories, and conducts several counterfactual analyses to derive policy recommendations.
Presentation: Australian Gender Economics Workshop 2026 | 90th Annual Meetings of the Midwest Economic Association 2026 |
“Policy Distortion, Misallocation, and Aggregate Productivity”
Abstract: Government policies in the form of size-dependent tax rebates or subsidies lead to the misallocation of resources in favor of subsidized, ineffective firms, which in turn reduces the aggregate productivity growth in the economy and stalks the overall structural transformation. Using a monopolistic competition model, I demonstrate that the size-dependent distortion accentuates the fat left tail of the firm-size distribution, trapping resources in low-productivity firms and sectors, and leading to low aggregate productivity.
"Do Food Imports Perpetuate Subsistence Agriculture in sub-Saharan Africa?” (with Mohamed Salat)
Abstract: Despite dominating employment, Sub-Saharan African agriculture suffers from low productivity. This paper examines the potential role of food imports and high domestic inter-region transportation costs in the sluggish growth of Total Factor Productivity (TFP), potentially offering crucial insights for reviving Sub-Saharan African agriculture.
"From Shadow to Spotlight: Digitization of India's Informal Economy" (with Shreya Bhattacharya)
GPSS Research Award 2025: The award by the Graduate and Professional Student Senate at ISU recognizes 3-5 graduate students every year who vastly contribute to their field by engaging in a community of scholarship through research, posters, talks, & publications.
Most Engaging Presentation Award 2024: The award by the Economics Graduate Student Association (EGSA) at Iowa State University recognizes exceptional ability to involve the audience in the Graduate Student Research Seminar Series.
STEG IGC CEPR 5th Ideas for Transformation (I4Ts) 2023 - Project #489 with Spandan Roy
James R Prescott Scholarship 2023: The scholarship of $5,000 is awarded by the Department of Economics at Iowa State University for demonstrating impressive creativity in research
Enrollment Research Analytics, Iowa State University, 2019 -2022 and 2024-2025
Advisor: Gregory Forbes
Key Responsibilities: Data Analysis, Model Development, Elasticity Analysis, Literature Review on Higher Education, Business Intelligence Dashboard development in Enrollment Research and Management, Competition Analysis
Projects: Developing econometric models, collecting and organizing data, and conducting analysis on student populations to determine the impact of cost, financial support, demographics, academic performance, and socio-economic status on decisions to apply, matriculate, and persist in their college/continued education