Prof. Krishnamurthy V. Subramanian, former Chief Economic Adviser to the Government of India (2018–2021) and former Executive Director at the International Monetary Fund, has been awarded the University of Chicago’s Alumni Award for Professional Achievement. He is the first
Indian economist to receive the honour since the award was established in 1941.
The award places Prof. Subramanian among a distinguished group of past recipients
that includes at least 14 Nobel laureates and global thought leaders across economics,
science, and public policy, including Paul Samuelson, Gary Becker, Claudia Goldin, Carl
Sagan, and Philip Kotler.
Recognition for Policy Leadership During Global Uncertainty
According to the University’s official citation, Prof. Subramanian’s Economic Surveys of
India were described as “landmark” documents that provided “the intellectual
foundation for India’s approach to self-reliance, anchored in competitive markets,
policy autonomy, and inclusive growth.” The citation also credits his early diagnosis of
the COVID-19 crisis as a supply-side disruption and notes that his early public
articulation of a V-shaped economic recovery “helped anchor confidence in India’s
economic resilience.”
Unlike many prior honourees whose work was primarily based in Western academic
institutions, the work recognized in this award was undertaken predominantly from
India and for India. During his tenure as Chief Economic Adviser, Prof. Subramanian
authored three Economic Surveys and contributed to macroeconomic strategy during
one of the most volatile periods in modern global economic history.
His subsequent role at the IMF further extended India’s policy perspective into
multilateral economic discourse at a time of shifting global supply chains, debt stress
across emerging markets, and re-evaluation of globalization frameworks.
A Milestone for Indian Scholarship in Global Economic Leadership
The recognition reflects the increasing global relevance of policy innovation emerging
from large, complex emerging markets such as India. In recent years, India has become
one of the fastest-growing major economies globally, with structural reforms, digital
public infrastructure expansion, and supply-chain diversification playing central roles in
its macroeconomic positioning.Prof. Subramanian has now received distinguished alumnus honours from all three of
His alma maters:
• Indian Institute of Technology Kanpur
• Indian Institute of Management Calcutta
• University of Chicago
He currently serves as Professor of Finance at the Indian School of Business.
Quote : ‘To be included in this academic lineage is profoundly humbling. What makes it
meaningful is that this is recognition for work done from India and for India. To follow, in
my modest way, the inspiring footsteps of Indians who did their finest work based in
India — from C. V. Raman and Homi J. Bhabha to Vikram Sarabhai and M. S.
Swaminathan — is a genuine privilege.’
— Prof. Krishnamurthy V. Subramanian
About Prof. Krishnamurthy V. Subramanian
• 17th Chief Economic Adviser to the Government of India (2018–2021)
• Former Executive Director, International Monetary Fund
• Professor of Finance, Indian School of Business
• Author of India@100
• PhD, Chicago Booth | B.Tech, IIT Kanpur | MBA, IIM Calcutta
For official award details, visit: University of Chicago Alumni Awards webpage.
