Privatisation in India: Prof. T. T. Ram Mohan Challenges the Economic Consensus

Over the past decade, India has pursued a bold programme of economic reforms alongside impressive growth. Central to these reforms has been the privatisation of the country’s vast public sector - driven by the belief that public enterprises are inherently inefficient and that market competition naturally improves performance. But does this assumption hold up? In this episode, Prof. T. T. Ram Mohan, former Professor of Finance and Economics at IIM Ahmedabad, draws on insights from his influential book Privatisation in India: Challenging Economic Orthodoxy. Through a combination of rigorous data analysis and real-world case studies, he questions the dominant narrative. His findings reveal that private firms do not consistently outperform public sector enterprises - and that government motives have often been more about raising revenue than improving efficiency. This is a compelling exploration of India’s reform journey, offering fresh perspectives on the public vs. private debate and important lessons for policymakers and scholars across the globe. Over the course of his career, Prof. T T Ram Mohan has served on several committees, including those of the RBI, and has been associated with the boards of several companies. Prof. T. T. Ram Mohan holds a Ph.D. from the NYU Stern School of Business, New York University, and is the author of seven books, in addition to having published numerous research papers he has presented his work at various international conferences. A prolific columnist, he has written extensively for leading publications such as The Economic Times, Business Standard, The Hindu, The Times of India, The Indian Express, Financial Express, The Asian Wall Street Journal, The Wire, and Quartz. This podcast is brought to you by Global Management Consultancy. For more information, please visit www.globalmanagementconsultancy.com. Disclaimer: A. The background music used in this video is the property of its respective developer and is protected by Copyright. Although it is a free version, Business Talk, Global Management Consultancy and Deepak Bhatt do not hold the rights to this music. B. Dr. T T Ram Mohan generously shared profound insights from his book, “Privatisation in India: Challenging Economic Orthodoxy,” during his appearance on the Business Talk podcast channel. The uploaded video contains copyrighted material; therefore, any modifications to graphics, music, or the presence of the author or host are strictly prohibited. All content is © 2025. All rights reserved.