Women in Leadership | Gita Gopinath
India-born Gita Gopinath became the first woman and second Indian to feature on the ‘wall of former chief economists’ of the International Monetary Fund (IMF). ( We all know the first Indian — Raghuram Rajan — who was Chief Economist and Director of Research of IMF between 2003 and 2006)
Gita Gopinath, born in 1971 in Calcutta to a Malayali family, was raised alongside her elder sister. Her family has connections to the late A. K. Gopalan, an Indian Communist politician.
Her husband Iqbal Singh Dhaliwal, who is a global executive director at Abdul Latif Jameel Poverty Action Lab (J-PAL), was also once an Indian Administrative Service (IAS) officer in India. He was the first rank holder of India’s civil services exam in 1995. ( Damm, that’s just insane )
She went from being a 45 percent scorer in school to becoming the First Deputy Managing Director of the International Monetary Fund.
Breaking down her journey :
— Ms. Gopinath was born in India and is a U.S. national and an overseas citizen of India
— Gita Gopinath joined Delhi School of Economics after her graduation.
— She initially got into the University of Washington for a 5 year Ph.D. program but such was her credibility that her mentor wrote her letters of recommendation to move to a top school.
— Ms. Gopinath received her Ph.D. in economics from Princeton University in 2001 (Doctoral Dissertation Titled ‘Three Essays On International Capital Flows: A Search Theoretic Approach’ )
— Gita Gopinath initially served as an assistant professor of economics at the University of Chicago’s Booth School of Business.
— Later, in 2005, she joined the faculty at Harvard University. Currently, she holds the position of the John Zwaanstra Professor of International Studies and Economics in the economics department at Harvard University.
— Gita Gopinath’s extensive research, centering on International Finance and Macroeconomics, enjoys broad citation and publication in esteemed economics journals. Her portfolio includes numerous authored research articles exploring topics such as exchange rates, trade and investment, international financial crises, monetary policy, debt, and emerging market crises.
— Although she is on leave of public service from this role as she serves as the Chief Economist of the International Monetary Fund (IMF).
— She was the economic adviser to Kerala chief minister from 2016–18
— She has also served as a member of the Eminent Persons Advisory Group on G 20 Matters for the Union Finance Ministry.
—In 2014, she was named one of the top 25 economists under 45 by the IMF and in 2011 she was chosen a Young Global Leader (YGL) by the World Economic Forum.
— In 2019, Foreign Policy named her one of the Top Global Thinkers
— She was named as one of the 25 Most Influential Women of the Year by the Financial Times in 2021
— She has also been awarded the Pravasi Bharatiya Samman, the highest honour conferred on overseas Indians, by the Indian government in 2019.
Some of her interesting work :
- Gita Gopinath played a key role in co-authoring the “Pandemic Paper,” a strategic document outlining targets for global vaccination efforts to combat the COVID-19 pandemic. This initiative resulted in the establishment of the Multilateral Task Force, comprised of leaders from the IMF, World Bank, WTO, and WHO, dedicated to ending the pandemic.
- Additionally, Gopinath contributed to the formation of a working group with vaccine manufacturers, aimed at identifying and addressing trade barriers and supply bottlenecks to expedite vaccine delivery to low- and lower-middle-income countries.
- In collaboration with various departments at the International Monetary Fund (IMF), Gopinath engaged with policymakers, academics, and stakeholders to develop a new analytical approach within the Integrated Policy Framework. This approach is designed to assist countries in responding effectively to international capital flows.
- Furthermore, she played a pivotal role in establishing a dedicated Climate Change team within the IMF, tasked with analyzing optimal climate mitigation policies and addressing related challenges.
- She was the co-editor of the current Handbook of International Economics and the American Economic Review. She was also the managing editor of the Review of Economic Studies.
Deep Diving into life of Gita Gopinath :
./ How her family helped her and her sister to raise beyond the average :
Growing up in Mysuru, Gita and her older sister Anita, her biggest supporter, cycled to school and back daily. Summers were filled with friends rather than structured activities aimed at building human capital. Gita reflects on her parents, particularly her father, who was her enthusiastic cheerleader. She recalls a poignant line from the movie “Gunjan Saxena — The Kargil Girl”: “If you fail, this isn’t just your failure but mine too.” This sentiment resonates with Gita’s upbringing, where her father, like Gunjan’s, didn’t mold them to meet societal expectations for girls but encouraged them to be ambitious and take pride in their accomplishments.
./ Gopinath emphasizes the significance of women advancing up the corporate ladder :
“It’s hugely important to have women in positions of leadership. Not just for economies (in terms of GDP growth rates) but to bring a diversity of thought to policy issues. It also helps women in junior positions rise up the ranks. As a woman leader, I am aware of the constraints they face, and I will ensure they have access to the networks they need to grow and are able to call out men who are behaving or speaking inappropriately.”
Lessons :
./ the one thing Gopinath does with a ferocious intensity is stick to being who she is, owning her agency completely.
./ academic performance can be improved, if you work hard.
./ Sometimes the only way to leave your legacy is to be a ‘first’ . Find your passion, create a niche for yourself and make history.
./ Hard work takes you to top places.
./ Hard work and perseverance have always been two consistent factors to achieve great things in life.
./ Come out of your comfort zone
Gita Gopinath has had a long career, full of myriad achievements. She continues to break through barriers and establish important policies, which are crucial for economic propagation.
“She is phenomenal, not just in her leadership of the IMF but as a role model for women around the world,” Lagarde said during Gopinath’s appointment as Chief Economist in 2018. There is always more to learn from now, but for now that’s it.
Do let me know what have you learned from her? Looking forward to hearing from you. Write down on comments.
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