Centre of Economic Policy Analysis & Research (CEPAR)


  • The Centre of Economic Policy Analysis & Research has been established under the Department Of Economics, SIMSR in the year 2013.
  • The Centre has been supported by the Institute. It envisages promoting research in a non — partisan basis and becoming a think tank that promotes application oriented policy research.
  • The discussions, outcome of the research will be shared with respective regulators, corporate, professionals and academic community.


  • To conduct applied Research in existing and emerging economic Issues.
  • To evolve into a leading policy centre engaged in research, teaching, consultancy, training & capacity building & work on improving development outcomes.
  • To promoting innovative and applied research that will generate practical, inclusive and sustainable solutions to emerging economic problems which can be used by different stakeholders.

Research Area

  • CIPAR Area

    Applied Economics

  • CIPAR Area

    Macroeconomic Modeling

  • CIPAR Area

    Public Finance and Policy

  • CIPAR Area

    Business Environment

  • CIPAR Area

    International Finance

  • CIPAR Area


  • CIPAR Area

    Financial Inclusion

  • CIPAR Area

    Environmental Economics


The CEPAR intends to get recognition from various stakeholders for the expertise in research, consultancy and various other activities of the centre.


Our Expertise



3rd Annual Conference on ‘Importance of Economic Research in Capital Markets' Jointly organised by NISM and SIMSR | October 12-13, 2018


NISM in association with CEPAR, K.J Somaiya Institute of Management Studies and Research (SIMSR) conducted the 3rd Annual Conference on ‘Importance of Economic Research in Capital Markets’ during October 12-13, 2018. This time it was a 2-day event.

The objective of this Conference was to deliberate on current state as well as opportunities and challenges of macroeconomic research related to capital markets. Short-listed research paper presentations on contemporary issues related to economic and capital market were presented at the Conference. The first day of the conference was held at NISM Campus, Patalganga and second day at SIMSR Campus, Vidyavihar, Mumbai.

Programme at NISM Campus, Patalganga (Day 01)


The major attraction of the first day was talk by experts, academicians, researchers, economists related to capital market.

Mr. Jitendra Kumar, Member of Faculty, NISM has given the Welcome address and also did compiling and summarizing throughout the programme. Dr. (Ms.) M. Thenmozhi, Director NISM has set the context of the conference and has given the future road map of NISM and also talked particularly about the areas of Research.

The Keynote address was delivered by Shri. Ananta Barua, WTM, SEBI. He discussed about current development in the areas of Capital Market in India and globally.

He also flagged various areas and issues for economic research and also about the strength and challenges of Indian Capital Markets.

After his address, he released a book on proceedings, in presence of another dignitaries and participants, of last year Conference on ‘Importance of Economic Research in Capital Market’ held on September 22, 2017 at NISM Campus, Patalganga.

Programme at SIMSR Campus, Vidyavihar, Mumbai (Day 02):


The major attraction of the second day was a talk by Mr. Madan Sabnavis Chief Economist, CARE Rating Ltd followed by research paper presentations.

Mr. Madan Sabnavis Chief Economist, CARE Rating Ltd spoke about current macroeconomic conditions, challenges and prospects of Indian economy. He also spoke on monetary policy and inflation targeting, global factors as well as prospects and challenges of various sectors of Indian Economy.

Following selected Research papers were presented in the presence of Dr. SNV Siva Kumar, Professor & ACP, SIMSR, Prof. (Dr.) Asha Prasuna, Professor & Chairperson CEPAR, SIMSR and others.

The valedictory was done by Mr. Jitendra Kumar.

A Certificate of Participation as well as Certificate of Paper Presentation was given to the participants and paper presenters respectively at the end of the programme. The Conference proceedings will be published and be made available for future reference and use.

Mr. Jitendra Kumar, Member of Faculty, NISM and Prof. (Dr.) Asha Prasuna, Professor & Chairperson CEPAR, SIMSR were the Conference Coordinators.

Sl. no. Name Title
1 Mr. Girish Joshi Impact of Demonetization on small finance banks
2 Dr. Meghna Chhabra, Ms. Aakanksha Ralhan, Mr. Kunal Sapra, Mr.Minal Bhardwaj NPAs in India: An Analysis
3 Mr. Rakesh Yadav How independent (Outside) directors’ compensation structure, their frequency of meetings and concentrated ownership effects shareholder’s wealth? Evidence from Indian traded companies.
4 Ms. Shilpa Sehgal & Dr. SNV Siva Kumar Corporate Governance Practices in Indian services sector
5 VS Parthasarathy & Dr. SNV Siva Kumar M&A Strategies- Empirical Analysis of Indian Scenario
6 Mr. Bhaskar G & Dr. Asha Prasuna Central Bank Intervention and its impact on currency volatility in India
7 Dr. Bhargavi J & Ms. Vaishali P Foreign Investor flows and the Indian stock market: A causal study
8 Dr.. Shaila S & Dr. Asha Prasuna Relationship between Stock market returns and Macroeconomic Variables in China- An Empirical Analysis
9 Dr.. Sonali S & Dr. Shaila S Awareness and Perception about the Investment in Mutual Funds
10 Ms. Vaishali P & Dr. Bhargavi J An investigative study on the impact of the macroeconomic fundamentals on the Indian stock market
11 Ms. Prema B Encouraging women on board in India: Can legislation do it alone?

One-day Panel discussion on the theme of Creating Optimal Economic Value through Right Mergers & Acquisitions conducted on October 8, 2016 at SIMSR.


Objective: Globally, Business Models are dynamically and rapidly transforming by the use of innovations driven by millennial and creating threat to traditional business.


This one day program was crafted to deliberate all vital research challenges and opportunities in M & A domain. This discussion attempted to answer much-needed research imperatives.

2017 March 3rd First Joint Conference CEPAR & NISM :

  • Theme: Importance of Economic Research for Capital Markets
  • Participants — 110 plus
  • Invited paper presentation
  • Proceedings published

6th Annual International Conference on the theme of Globalization at Cross-roads


National Institute of Securities Markets (NISM), Finance Academy of Mahindra Leadership University (FA-MLU), Bombay Chamber of Commerce and Industry (BCCI) in association with Centre for Economic Policy analysis & Research (CEPAR), Department of Economics, K.J Somaiya Institute of Management Studies and Research (SIMSR) conducted 6th Annual International Conference on ‘Globalization at Crossroads’ during October 11-12, 2019..

The objective of this Conference was to deliberate on financial, macroeconomic, regulatory, policies that have significant influence on Globalisation during its second generation and beyond. Short-listed research papers were presented at the Conference. The first day of the Conference was held at KJ SIMSR Campus and second day at the Mahindra Towers, Worli, Mumbai.

Programme at K J SIMSR (Day 01):


The major attraction of the first day was keynote address by Dr. Usha Nair-Reichert, School of Economics, Georgia Institute of Technology, Atlanta, USA on Networks in International Trade.

Professor SNV Siva Kumar, Professor & ACP Department of Economics, SIMSR presented the welcome address and set the context for the Conference. Inaugural address was delivered by Shri. Vijay Srirangan, Director-General, the Bombay Chamber of Commerce & Industry (BCCI), Mumbai.

Expert talk on the topic of Modeling Credit Risk was delivered by Prof. Sandeep Juneja, Professor and Dean, School of Technology and Computer Science, Tata Institute of Fundamental Research, Mumbai.

Dr. V.R. Narasimhan, Dean, School of Corporate Governance and School of Regulatory Studies, National Institute of Securities Markets, Mumbai shared his experiences on the topic of Common Governance Dilemmas.

Following are the research paper presentations held in the second half of the Conference on Day 1, Dr. Usha Nair-Reichert and Dr. K.N.Murty, former Professor & Dean School of Economics, University of Hyderabad, were chairing the track. Prof. (Dr.) Asha Prasuna, Professor & Chairperson CEPAR, SIMSR and others were present at the session.

Programme at Mahindra Towers, Worli (Day 02):


The Valedictory address was delivered by Mr. Govind Shankaranarayanan, Vice Chairman, ECube Investment Advisors Ltd. Vote of thanks was presented by Mr. Bivas Chakraborty, General Manager, and FA-MLU. Mr. Rajesh Kumar, Member of Faculty, NISM, Mr. Sriram Ramachandran from FA-MLU and Prof. (Dr.) Asha Prasuna, Professor & Chairperson-CEPAR, SIMSR served as the Conference.

Talk Title Expert Affiliation
Corporate Perspective on Globalization Mr. Sriram Ramachandran SVP, Investor Relations Corporate Finance & Chairman FA-MLU, M&M
Cyber Security Awareness and Risks Mr. NMD Shenoy Founder & CMD, Best Fit Solutions, Mumbai
Towards $5Trillion Economy: Way Forward Dr. Brinda Jagirdar Economist and Independent Director

7th Annual International Conference on the theme of Coping up with the Post- Lockdown Economic Environment


Conference that is being conducted by the Centre for Economic Analysis and Policy (CEPAR), Department of Economics, KJ SIM of Somaiya Vidyavihar University jointly with the Finance Academy of Mahindra Leadership University (MLU), National Institute of Securities Markets (NISM), an educational initiative of SEBI, and the Bombay Chamber of Commerce and Industry (BCCI).

The Covid-19 pandemic has caused extreme adverse effects on various societies and economies and markets for past almost a year now. Hence, the theme of the current conference is “Coping with Post-lockdown Economic Environment”. The four tracks spread across today and tomorrow cover relevant themes namely,

  • Economic Growth Revival
  • MSME Challenges
  • Logistics & Mobility
  • Geopolitical Issues in Current Global Business

Expert Speakers:


Dr. Meenakshi Rishi (Seattle University), Dr. Usha Nair-Reichert, (Georgia Institute of Technology Atlanta), Dr. VR Narasimhan (NISM), Mr. Sandeep Khosla (BCCI), Mr. Sriram Ramachandran (M&M), Varghese A. Manaloor (University of Alberta, Alberta, Canada), Mr. Manish Bansal (SME Valueadvisors), Mr. V S Parthasarathy, (Mobility Services Sector), Mr. Amal Sinha (BSES Rajdhani Private Limited), Mr. Anil Talreja, (Deloitte Haskins & Sells).

Talk Title Expert Affiliation
Teaching & Learning Challenges – International Perspective Dr. Varghese Manaloor University of Alberta, Canada
Growth Initiatives & key imperatives for India Dr. Sachchidanand Shukla Mahindra & Mahindra Ltd.
Three Farm Bills. Dr. V R Narasimhan National Institute of Securities Markets (NSIM), Mumbai
Indian Equity Markets Mr. Viral Trivedi LIFE Investment Advisory
Teaching & Learning Challenges in Higher Education – Indian Context Mr. Sandip Ghose National Institute of Securities Markets (NISM), Mumbai
Indian MSME Sector challenges during and post-Lockdown Mr. S. Rajagopalan Bank of Maharashtra, Mumbai
Key Imperatives for Success in the market Place. Mr. Manish Bansal SME Value advisors
Missing Middle in Indian MSMEs: Is capital acting as the barrier for growth of micro & small enterprises into medium sized enterprises? Mr. Vivek Sharma Dun & Bradstreet India Information Services
Green ODA, Carbon Emissions, and Institutions. Dr. Meenakshi Rishi Seattle University
Health Interventions in a Poor Region and Resilience in the Presence of a Pandemic Dr Amitrajeet A. Batabyal Rochester Institute of Technology
The future of mobility- post COVID 19 Mr. Amal Sinha BSES Rajdhani Power Limited
Technology disruptions on global business models. Mr. Rajesh Sehgal Equanimity Investments, Mumbai
Cyber risks Post Covid-19 Mr. NMD Shenoy Bestfit Business Solutions Pvt. Limited
A global perspective of Development Dr. Usha Nair-Reichert Georgia Institute of Technology, Atlanta

8th Annual International Conference on the theme of ‘Economic Analysis for Contemporary Global Business’


As an annual event Centre for Economic Policy Analysis and Research (CEPAR) of Department of Economics, K J Somaiya Institute of Management in association with National Institute of Securities Markets (NISM), Finance Academy of Mahindra Leadership University (FA-MLU-M&M)

Bombay Chamber of Commerce & Industry (BCCI) and Association of Management Development Institutions in South Asia (AMDISA) is organising a two- day 8th International Conference on virtual mode with the theme ‘Economic Analysis for Contemporary Global Business’ on February 11-12, 2022.

Inauguration session of CEPAR 2021-22 :


This 8th edition of the conference theme is very apt and interesting, namely - "Economic Analysis for Contemporary Global Business". Despite the Covid-related challenges, were able to get expert international speakers from the University of Hull, Keele University, and Business School Ludong University, China.

Key Speakers:

Name Topic Affiliation
Dr. C K G Nair Welcome address National Institute of Securities Markets (NISM), Mumbai
Mr. Bhaskar Chatterjee Pandemic Lessons for Economic Analysis & Business Research L&T Construction
Mr. S. Rajagopalan Analysing the Potential Strengths and Weakness Of Indian MSMEs for Global Business Bank of Maharashtra, Mumbai
Dr. Tirthankar Patnaik Domestic Levers to Take Charge as Global Environment Turns Less Conducive National Stock Exchange of India Limited
Mr. Ronaan Roy Handling Social and Digital Media: Building the Corporate Brand- Rise or Good Mahindra Group
Dr Keshab Bhattarai Consumption Functions of India University of Hull, UK
Dr. Christopher Tsoukis Distributive Justice, Inequality and Growth Keele University, UK
Dr. Weiguang Qin Influence of Hong Kong RMB offshore Market on Effectiveness of Structural Monetary Policy in the Mainland China University of Hull UK and Ludong University China
Dr. Sugeeta Upadhyay Economic Outlook Survey of Bombay Chamber of Commerce & Industry Bombay Chamber of Commerce and Industry

In the CEPAR 2022, external faculty members from Indian Institute of Management (IIM) Tiruchirappalli, Indian Institute of Technology Roorkee (IITR), and TERI School of Advance Studies, New Delhi, Xavier Institute of Social Services (XISS), Ranchi, participated as Track Chairs at the Conference.

The track theme and session chairs:

Track Theme Track Chair
Pandemic Lessons for Economic analysis and business research Dr. SNV Siva Kumar (KJ-SIM) and Dr Varun Mahajan (IIM Tiruchirappalli)
Regulation vs Market-led Economy Dr. Asha Prasuna, (KJ-SIM) and Dr Chandan Kumar (TERI School of Advance Studies, New Delhi)
Handling Social and Digital Media Dr. Asha Wankhede (KJ-SIM) and Dr. Falguni Pattanaik(IIT Roorkee)
Economic and Income Inequalities Dr. Shaila Srivastava (KJ SIM) and Dr. Amit K. Giri (XISS, Ranchi)

One-day Confluence 2015: Economics of Innovation for SMEs conducted on December 19th Saturday, 2016 at SIMSR in collaboration with MIBS, Mumbai.


The Confluence was attended by about 50 plus participants who included SME representation, nominees of product/service innovation applicants, faculty members, research paper presenters and some of the MMS students from the Institute. After the program, e-proceedings was published and circulated to the participants.


Confluence 2015: Economics of Innovation for SMEs December 19th Saturday at SIMSR, Mumbai.

Students Events


iconsDiscussion / competition on 'Reviving Indian Economy - Issues and Challenges'

iconsConducted on Monday, Dec. 22nd 2014


iconsDr. SNV Sivakumar, ACP- Economics, Dr. Pankaj Trivedi, ACP - Finance and Dr. Bharat Bhatia — Finance Dept.


iconsOn the theme of ‘India as World’s Largest Economy by 2030 – Prospects, Strategy & Challenges’

iconsConducted on Feb 21st

Our Offerings

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Research Collaborations

We work closely with clients and institutions to design and conduct collaborative research in applied economics and finance areas.

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Econometric Modeling

Using time series and cross section data of Indian economy, world economic outlook, UNTAD and other secondary published data Basic and time series econometric models are specified and estimated from time to time. These econometric models have been prepared for all the management domains like marketing, operations, HR and finance to get insights of data and policy inferences. Econometric models include estimation of regression equations with testing for violation in OLS assumptions like auto correlations, multicollinearity, heteroscedasticity. Panel data models, Time series models including testing for stationarity, ARCH GARCH causality, VAR, VECM.

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Joint Conferences

We organize joint conferences on topics of mutual interest with the aim of having industry and academic interface. It provides platform for researchers to present their work and get inputs from the experts. It also helps in networking with industry and professionals. Conference proceedings are published for future use & reference.

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Data Analytics & Insights

Economy, industry and sector data analytics is carried out to understand data patterns and behavior.

Data Analytics - Using simple quantitative tools is done. Insights and inferences are drawn and reports are prepared and shared with the stakeholders.

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Panel Discussions

The centre designs panel discussion themes and identifies experts in the respective domains to invite for a panel discussion.
The deliberations are then shared with all stakeholders for their use in decision making.

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Consultancy Projects

The individual faculty members undertake consultancy projects from clients to provide research based inputs on the current and prospective business challenges.




Research and analytics output will be published in various format like proceedings, working papers, white papers, concept note.


Data insights

Data insights are the output of data analysis on various topics that will be made available from time to time



General and specific reports are prepared based on the client requirements and also on the new topics with varying frequencies.

Partners / Clients / Our Associations -

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Our Team

Team Members


M. A.,M.Phil & Ph.D. In Economics From University Of Hyderabad

Team Members


M. A., M. Phil & Ph.D From University Of Hyderabad, A Central University

Faculty Members
Team Members


Masters In Economics From Madras University & PhD From SNDT Women

Faculty Members
Team Members


M.A., M.P.S,PGDEM,M.Phil & Ph.D. In Management From SNDT Women

Faculty Members
Team Members

Pushpendra Singh

PhD,Indian Institute of Technology Roorkee

Faculty Members
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