Mr Kaushik Dutta

Kaushik is the founding co-director of Thought Arbitrage Research Institute (TARI) which a not for profit organisation set up under Section 25 of the Indian Companies Act.

TARI is one of the few privately-funded, independent and non-partisan Indian think-tanks on Corporate Governance, Sustainability, Economics and Public Policy.

TARI has contributed significantly through evidenced based research for policy making and some of its seminal works include:

  • India @ 2022-the path of economic progress for India till 2022 using 21 variables in simultaneous equations to predict growth in various scenarios for FICCI as their national policy paper – launched by the Finance Minister of India on 19 December 2015
  • Make in India Report – the implementation plan with Department of Industrial Policy and Promotion in 2015,
  • Accessibility Index for India for Ministry of Social Justice - a disability index launched by Finance Minister on world disability day on 6 December 2015
  • India – Africa Trade relations - a continuous sunshine a theme report for Indo Africa Summit in 2015.
  • India Investment Report (2016) of Securities and Exchange Board of India as an expert review group.
  • Corporate Governance : Where do we stand in 2016? With FICCI

He has retired in July 2010 from PricewaterhouseCoopers after spending over 22 years in the practice out of which 17 years have been as a partner. He has been a member of the India Leadership Team of PricewaterhouseCoopers, national IFRS leader, Corporate Governance Practice leader, assurance leader amongst other national and global roles.

He was earlier a partner with the Global Capital Markets Group of PwC International ,NYC and oversaw risks in capital markets.

Kaushik has also worked with Conference Board of the U.S.A., Genesis Park, USA, Asian Development Bank, DFID, UK, UN Global Compact, Institute of Directors UK, Asian Institute of Corporate Governance, NACD, USA, Office of the Comptroller and Auditor General of India, CII, FICCI, ASSOCHAM, Department of Public Enterprises, National Foundation for Corporate Governance, Ministry of Corporate Affairs, Asian Institute of Technology, Thailand etc. on corporate governance and financial reporting matters.

Kaushik has written for the Ministry of Corporate affairs, a report along with colleagues from TARI and IIM Calcutta on State of Corporate Governance in India in 2012. He has also worked with IICA and UN Global Compact to develop a report on fraud and corruption by private sector including banking in India (2013, which had been placed and referenced in the Indian Parliament multiple times.

He in 2013 has conceptualised for Serious Fraud Investigation Office (SFIO), a fraud prediction model based on analytics and algorithms using Bayesian principles and was a member of Government of India’s Steering Committee for developing the model. Currently he is an accounting expert for the office and is a member of the implementation committee of the model.

In 2015/16, he was a member of Minister of Defence’s task force as a finance and risk expert called the Aatre Committee on preparing the strategy and implementation mechanism of privatising defence manufacturing in India.

He has authored the following books-

  • Corporate Governance-myth to reality (Lexis Nexis, 2005),
  • India means Business-how the elephant earned it’s stripes (Oxford University Press, 2012) and in 2nd edition,
  • Handbook for independent directors - Upholding the moral compass ( Lexis Nexis, 2015) with EY and in 2 Edition (2016)
  • Audit Committee-What directors should know? (Lexis Nexis) for pwc
  • Ministry of Corporate Affairs - Corporate Governance - Change and Continuity (Oxford University Press) 2016
  • Has written over 100 thought papers on corporate governance, sustainability, business and policy issues in newspapers, journals and business magazines.

Kaushik serves as a director including chair of audit committees on the Boards of :

  • HCL Infosystems Ltd
  • HCL Services Limited
  • NDTV Limited
  • New Gen Software Limited
  • Zomato Private Limited
  • NSL Renewable Power Ltd


  • Fellow Member, Institute of Chartered Accountants of India
  • Bachelor of Commerce, St. Xavier's College,

He has been a visiting faculty in IIM Calcutta for over 10 years and other engagements for teaching governance, risk and compliance include IIM Lucknow, IIM Bangalore, SNU, ICAI , IICA, Asian Institute of Technology, Thailand NIFM etc.

His is married with two daughters and his interests include music, art and golf, which he plays with a handicap of 8.7.

He is now in the Board of Advisors of Alchemy Enersol International Pvt Ltd, India.