Arvind Subramanian was appointed as the new Chief Economic Advisor (CEA) of India on Thursday. A former economist with the International Monetary Fund, Mr Subramanian is currently the Dennis Weatherstone Senior Fellow at the Peterson Institute for International Economics and Senior Fellow at the Center for Global Development.

Talking to media after taking charge, Mr Subramanian said, there is a sense of hope, opportunity and dynamism and Indian economy is expected to grow in the coming days.

The new CEA also highlighted the two key and obvious priorities: “For any economy like India, the two big things are macroeconomic stability and, of course, creating conditions for rapid investment and growth. While creating opportunity for all segments of Indian society, no one should be left out of this process.”

Mr Subramanian is a widely cited expert on the economics of India, China and the changing balance of global economic power. Earlier, he has advised the Indian government in different capacities, including as a member of the Finance Minister’s Expert Group on the G-20.

The economist has also authored a book “India’s Turn: Understanding the Economic Transformation”.

As the CEA, Mr Subramanian will be responsible for the Economic Survey as well as medium to long term planning of economic policies of India.