The baroque IPO process; state contracting for drugs

My column in the Business Standard today is Why is the IPO process so baroque?

Two fields come together in government contracting for drugs: the overall field of government contracting and the problems of drug quality. Improving processes for government contracting in drugs is important in and of itself, and can potentially induce positive impacts for the overall field of drug quality. Harleen Kaur, Siddhartha Srivastava and I have a new paper, How elements of the Indian state buy drugs.