Vidyashilp University honors three Pillars of Indian Economic for research, policy guidance, and mentorship

Vidyashilp University Felicitated Padma Shri Prof. K.L. Krishna, Prof. S. Mahendra Dev & Prof. Pami Dua in a Historic Gathering of Indian Economists

In what may well be remembered as a landmark moment in Indian academia, Vidyashilp University hosted a rare and deeply meaningful felicitation on June 21, 2025, honouring three of India’s most respected economists: Padma Shri Prof. K.L. Krishna, Prof. S. Mahendra Dev, and Prof. Pami Dua. The event, held at the IIMB Club, Taj Westend, Bengaluru, was not just a tribute—it was a conversation with legacy.

Each of the three honourees has, in their own way, shaped the economic and institutional narrative of post-liberalisation India through rigorous research, public policy guidance, and ethical leadership. Their contributions span over five decades and cut across disciplines, ministries, and milestones.

“This is not a felicitation; it is a reckoning. A moment to pause and reflect on what has quietly held Indian economics together—rigour, humility, and a sense of duty to society,” said Prof. P.G. Babu, Vice-Chancellor of Vidyashilp University, in his welcome address. “To have all three of these luminaries under one roof is not just rare—it may be unrepeatable.”

Prof. Babu reflected on the common lineage shared by the four scholars—including himself—through their longstanding associations with Delhi School of Economics and The Indian Econometric Society, and IGIDR, institutions that have quietly powered India’s economic thought leadership. He also acknowledged Prof. Mahendra Dev’s former role as Ombudsperson at Vidyashilp University, where he played a formative role in helping the young institution build internal systems rooted in fairness, dialogue, and academic freedom.

Prof. K.L. Krishna: The Quiet Architect of Indian Econometrics

A former President of the Indian Econometric Society and a Padma Shri awardee, Prof. K.L. Krishna’s legacy lies not just in his scholarship but in the community of economists he nurtured.

“Prof. Krishna rarely raised his voice,” Prof. Babu recalled. “But when he did speak, it often changed the course of the conversation. His way of building institutions was through mentorship—not manuals.” Prof. Krishna’s foundational work in applied econometrics, his instrumental role in launching the Journal of Quantitative Economics, and his enduring mentorship have left an indelible impact on India’s academic infrastructure.

Prof. Mahendra Dev: A Blueprint for India@2047

Fresh off his appointment as Chairman of the Prime Minister’s Economic Advisory Council (PMEAC), Prof. Mahendra Dev delivered a keynote that was part policy insight, part moral reflection.

“India cannot grow on GDP alone,” he said. “The next two decades must centre around investment, export-driven growth, fiscal decentralisation, inclusion, and sustainability. But beyond numbers, we need to rebuild our social contract—between citizens, institutions, and governance.” He emphasized the urgent need for climate action, equitable urbanisation, and gendered economic participation. He also lauded institutions like Vidyashilp University, calling them “crucibles for a moral economy,” and expressed confidence that the next generation of economists must learn not just data, but context and compassion.

Prof. Pami Dua: The Mind Behind the Metrics

Prof. Dua was and is celebrated for her pioneering work in empirical macroeconomics, her editorial stewardship of the Indian Economic Review, and her policy leadership across multiple government forums.

“Empirical thinking is not about data crunching—it is about truth-seeking,” she said. “And that is what makes economics more than just a science. It becomes a responsibility.” As a policy thinker, teacher, and communicator, Prof. Dua was recognised for bringing both intellectual depth and ethical clarity to India’s macroeconomic discourse.

Vidyashilp University: Holding Space for Thought Leadership

That this event was hosted by Vidyashilp University is no coincidence. The institution, though young, has consistently positioned itself at the intersection of ethics, innovation, and academic excellence. “Our very foundation rests on asking better questions,” said Dr. Kiran Pai, Pro Chancellor of Vidyashilp University, who was present through the day. “To honour those who have shaped India’s economic questions for decades is, for us, a reaffirmation of our purpose.”

With a research-forward academic model and interdisciplinary programmes that place context over content, the University has drawn national attention through projects like MEERA (a patient-assistive robot), VURA (automation for social impact), and its growing network of international academic partnerships.

A Moment That May Not Return

As the day drew to a close, it was clear that this was no ordinary felicitation. It was a living archive—a moment where Indian economic history, contemporary policy, and institutional imagination stood shoulder to shoulder.

“Some leaders shape institutions. Others shape economies. But a rare few shape generations. Tonight, we honoured all three,” said Prof. Babu. In an era of noise and novelty, Vidyashilp University’s quiet gesture of gratitude stood as a powerful reminder of what really holds an academic community together: legacy, humility, and the courage to keep asking questions.