New AtlanticistFeb 19, 2021
Recovering from COVID-19: Can India’s 2021 Union Budget rise to the challenge?
By South Asia Center
The Indian government recently announced a new budget aimed at providing a major boost to healthcare and infrastructure development. Here's how Atlantic Council experts are assessing the budget.
Issue BriefSep 9, 2020
Transforming Indian agriculture: A policy framework to guide US-India partnership
By D. Narain
Agriculture has formed the backbone of India’s economy for many decades and remains crucial to providing food security for the country’s growing population. It constitutes a major pillar of India’s economic growth and a significant contributor to its growing exports sector.
New AtlanticistMay 18, 2020
India’s new COVID MSME package: Critical assistance or symbolic gesture?
By Ketki Bhagwati
The plan's centerpiece, the loan guarantee program, which transfers the full liability of loan losses of eligible borrowers to the exchequer, however, appears ill-conceived at a time when the government is scrambling to contain the fiscal deficit. Structuring the program to cover the credit and performance risks of MSME loan portfolios of financial institutions through risk participation or risk sharing would have been a wiser choice for the government.
Ms. Ketki Bhagwati is a senior advisor at the South Asia Center. Since 2016, she has been serving as an Independent Director on several Indian boards, including Axis Bank Ltd, India’s third largest private sector bank with assets of over $100 billion. Her other boards include Omniactive Health Texhnologies Ltd, a neutraceuticals manufacturing company; Bayer Cropscience Ltd, a subsidiary of Bayer AG; and Tikona Infinet Ltd a broadband service provider where she is the nominee Director of the International Finance Corporation (IFC). She also sits on the Investment Committe of a US-based sustainable solutions firm Encourage Capital’s private equity fund, which invests in specialized financial instituitons focused on developing and scaling solar rooftop finance for MSMEs in India.
Prior to 2016, Ms. Bhagwati was a former Chief Investment Officer in the Financial Institutions Group at the IFC, the private sector financing arm of the World Bank Group where she worked for 25 years. She has expertise in private equity, M&A, debt & structured finance and distressed asset workouts across sectors in several regions including Asia, the Middle East & Africa. Before IFC, Ms. Bhagwati worked at the Credit Rating Information Services of India (CRISIL) in Mumbai.
Ms. Bhagwati has a Bachelors of Arts from Wellesley College and a Master of Public Administration from Harvard University’s John F. Kennedy School of Government. She is currently a member of the Wellesley College Business Leadership Council and Golden Seeds, an early stage investment firm with a focus on women entrepreneurs.