News & Highlights

  • SEPTEMBER 2019

HBS India Impact Series: Conversations with Dr. Y.K. Hamied and Dr. Armida Fernandez

The India Research Center’s HBS India Impact Series features discussions with change makers who are using their leadership, networks, and problem-solving skills to address fundamental challenges facing society. This August, a conversation with Dr. Y.K. Hamied, Non-Executive Chairperson of the pharmaceuticals company Cipla Ltd., focused on his pioneering efforts to develop affordable drugs for HIV patients across the world. Dr. Hamied’s innovative anti-AIDS treatment pushed the envelope in patent law. In another conversation this September, Dr. Armida Fernandez , Founder of SNEHA discussed her journey supporting under-served low-income communities in India and improving the quality of public health services. Nitin Nayar, MBA 2002, who serves on SNEHA’s board, shared how alumni can help leverage their skills and expertise to drive social change and widen their sphere of impact.
  • AUGUST 2019

MBA Voices: A Indian Student’s Experience—Meet Prineeta Kulkarni, MBA Class of 2020

MBA Voices is Harvard Business School’s admissions blog. A collection of community perspectives on the blog provide prospective students with insight into life at HBS. In this interview, Indian student, Prineeta Kulkarni, MBA 2020, explains her journey to become one of the applicants admitted to the school.
  • JULY 2019

A Discussion with Professor Mihir A. Desai: How Finance Works

This July in Mumbai, Professor Mihir A. Desai, Mizuho Financial Group Professor of Finance shared insights from his new book, How Finance Works. In an interactive and engaging session with alumni and friends of the School, Professor Desai tackled a range of topics including the sources of economic return, why the financial system is so complex, how value is created, measured, and maximized and the importance of capital markets in helping companies grow.
  • MAY 2019

Neel Ghose (MBA 2019) Wins Dean’s Award for Service to the School and Society

Neel Ghose (MBA 2019) is the founder of The Robin Hood Army, a zero-funds organization that distributes surplus food from restaurants to the hungry in developing countries and has served 14.8 million meals across 133 cities. Ghose brought his commitment to feeding the hungry to HBS, and during his time in the MBA program has increased his sectionmates’ awareness of the problem of global hunger. With the help of his classmates, the Robin Hood Army has been introduced into new countries including Indonesia, Nigeria, and Chile. Through his work with the Robin Hood Army and Robin Hood Academy, and through his actions on campus to bring awareness to the hunger problem in all nations, Ghose has been an inspirational role model while at HBS and impacted the quality of life for many communities, making him a 2019 Dean’s Award winner.

New Research on the Region

  • Forthcoming
  • Article
  • Business History Review

The Cost and Evolution of Quality at Cipla Ltd, 1935–2016

By: Tarun Khanna and Muhammad H. Zaman

This article examines the evolution of Indian pharmaceutical manufacturer Cipla towards producing drugs that met the quality standards of European and U.S. regulators. It employs new research in Cipla’s corporate archives, the Creating Emerging Markets database, and interviews with Cipla employees, government regulators, and public health professionals in Africa, India, Latin America, and the United States. The article argues that, along with a longstanding corporate culture of self-reliance rooted in nationalism starting from its inception in 1935, major factors in Cipla’s strategy from the 1960s through the early 2000s included the early adoption and continued use of quality control technology, along with efforts to create global goodwill for affordable, high quality generic drugs during the HIV/ AIDS epidemic of early 2000s.

  • 2019
  • Book Chapter

Ethical Business, Corruption and Economic Development in Comparative Perspective

By: Janet Hunter and G. Jones

This chapter contextualises the drivers of corruption in Turkish business through comparisons with Japan and India in the late 19th century. It identifies the developmental state as a common driver of corruption. Catching up by using extensive state intervention had the major downside that it has served to facilitate corruption. The operation of the developmental state may have been constrained by factors beyond the control of the state, such as shortage of funds or external pressures. Yet it is apparent that the individual measures that made up the overall strategy of the developmental state are vulnerable to exploitation by those who are involved in their implementation, while at the same time positively encouraging such manipulation. The example of 19th century Meiji Japan suggests the building of inclusive political and economic institutions. Consequent trust levels can help address the problem, but it also suggests that old habits die hard and that respect for the state and its institutions is something that cannot be taken for granted. The fact that some places, such as Singapore and Hong Kong, were able in recent decades to roll back corrupt practices is less comforting for Turkey. Turkey, like India, has not yet taken the necessary steps needed to disrupt corrupt practices. However the chapter also explores the many uncertainties surrounding the issue of corruption. The very term corruption is ambiguous, because there are many grey areas that result from variations in cultural norms. The existence of corruption does not appear to stop development. It did not stop Japan’s economic growth over the long term. It has not stopped India’s rapid growth in recent decades, which appears, if anything, to correlate with growing corruption rates since the 1970s. It would appear, though, that the more extractive the institutions of a society, and the fewer the countervailing forces of productive business enterprise, the more potential there is for negative outcomes. In the case of Turkey, corruption has not only prevented significant economic growth, but it also had negative consequences, such as poor quality building construction, and distortions, such as helping one sector of the business community grow at the expense of others. Its prevalence maybe part of the explanation why Turkey has struggled to build innovative businesses able to drive forward the development of the country and break out of the middle-income trap.

  • September 2019
  • Case

Funding Sources for Science & Technology Start-ups in India

By: Tarun Khanna, Arjun Swarup and Rachna Tahilyani

India's start-up ecosystem is amongst the largest globally, with a variety of funding options from angel investors, venture capital and corporate venture capital to debt. Classic consumer focused start-ups which look to leverage technology have been able to raise significant amounts of capital but the situation is more challenging for deep science and technology focused startups. This note focuses on these issues and the factors behind them.

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Mumbai Staff

Anjali Raina
Executive Director
Rachna Chawla
Assistant Director, Research Services
Anthea D’Souza
Associate Director, Financial and Business Administration
Kairavi Dey
Research Associate
Kalpesh Hedulkar
Mahima Kachroo
Rashmi Patel
Research Assistant and Educational Coordinator
Shreya Ramachandran
Research Associate
Sanjivani Shedge
Executive Assistant
Inakshi Sobti
Associate Director, Community Initiatives
Arjun Swarup
Rachna Tahilyani
Senior Associate Director, Research