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Cross-Border Flows and Frictions in India

Themes and Topics

The conference will focus on, but is not limited to, the following themes:

• International Capital & Investment: Capital flows, home bias, push/pull factors; EM flow maladies; capital controls; corporate finance, and internationalisation of high-productivity firms, cross-border payments

• Exchange Rates & Currency Markets: Currency markets, risk, and institutions; exchange rate regimes; costs and benefits of managed rates

• Financial Stability & Crisis: Contagion from international crises; the impossible trinity; conventional Indian crisis management; systemic risk under open capital accounts

• Regulation, Compliance & Governance: Laws, rule of law, and public administration for capital controls; tax policy and administration; CFT/PMLA/FATF

This event is by invitation only.

Type

Conference

Date

03 - 06 Jul 2026

Time

03:00 PM

Where

Resort Rio, Ballroom 2 (basement), Baga Beach, North Goa (in-person only)

Agenda

03 July 2026
04 July 2026
05 July 2026
06 July 2026

15:00 – 18:00

Arrive and check-in

18:00 - 19:00

Inaugural Talk : The Question

K.P. Krishnan, Ashoka Univeristy

19:00 – 22:00

Welcome dinner for conference participants

08:00 - 10:00

Breakfast

10:00 - 10:30

Opening Remarks

Gopalaraman Padmanabhan, Former RBI

10:30 - 11:15

Does Off-Balance-Sheet Intervention Amplify Fed Monetary Shocks? Evidence from India’s Forward Book

Nikhil Rahangdale, Indian Institute of Foreign Trade (IIFT) Delhi

Discussant: Hari Venkatesh, IIT Roorkee

Paper

11:15 - 11:30

Break

11:30 - 12:15

From Trillions to Trickle: Why Global Institutional Investors remain under-allocated to India

Arvind Chari, Q India UK, and Ananth Iyer, Quantum Advisors India

Discussant: Moumita Tiwari, IIM, Udaipur

12:15 - 13:30

Panel: Enclave vs Mainland

Presenter: Pratik Datta and Renuka Sane, Trustbridge

Chairperson: Kshama Fernandes, Independent

Panelists: Arvind Chari, Q India UK

Gopalaraman Padmanabhan, Former RBI

Renuka Sane, Trustbridge

Susan Thomas, XKDR Forum

13:30 - 14:30

Lunch

14:30 - 15:15

From Tariffs to Turmoil: Trade Policy Uncertainty and Export Dynamics in India

Anirban Sanyal, Reserve Bank of India and Rajeswari Sengupta, IGIDR

Discussant: Ankit Kumar, IIM Calcutta

15:15 - 16:00

Exchange Rate Depreciation and Firm-Level Imports: Evidence from Dominant Currency Financing in India

Anubhuti Sharma and Hari Venkatesh, IIT Roorkee

Discussant: Renuka Sane, Trustbridge

16:00 - 16:30

Break

16:30 - 17:45

Panel: The Credible Commitment Crisis in Cross-border Taxation

Presenter: Shubho Roy, Shiv Nadar School of Law

Chairperson: Anjali Sharma, XKDR Forum

Panelists: Amrita Agarwal, Independent

Anupam Manur, Takshashila Institution

Arbind Modi, XKDR Forum,

Shubho Roy, Shiv Nadar School of Law

17:45 - 19:00

Unstructured

20:00 – 22:00

Dinner

08:00 – 10:00

Breakfast

10:00 - 10:45

Exchange Rate Regimes, Inflation Targeting, and External Shocks in Emerging Markets

Rajeswari Sengupta, IGIDR, Ajay Shah and Anjali Sharma, XKDR Forum

Discussant: Manish K Singh, IIT Roorkee

10:45 – 11:30

External Commercial Borrowing evolution: Past and the future

Amrita Agarwal, Independent and Harsh Vardhan, XKDR Forum

Discussant: Sanjiv Shah, Lakshya Asset Management

11:30 - 11:45

Break

11:45 - 13:00

Panel: Capital Controls Policy

Presenter & Chairperson: Anjali Sharma, XKDR Forum

Panelists: Abhishek Anand, IPR Global

Pratik Datta, Trustbridge

V Thiagarajan, Independent

Anand Venkatanarayanan, Deepstrat

13:00 - 14:00

Lunch

14:00 - 15:15

Panel: Firm Internationalisation

Presenter: Sanjuktha Athreya, XKDR Forum

Chairperson: Amrita Agarwal, Independent

Panelists: Shubho Roy, Shiv Nadar School of Law

Sanjiv Shah, Lakshya Asset Management

Manish K Singh, IIT Roorkee

Harsh Vardhan, XKDR Forum

15:15 - 16:00

What have we learnt?

Ajay Shah, XKDR Forum

16:00 – 19:00

Unstructured

19:00 – 22:00

Dinner

08:00 - 11:00

Breakfast and check-out