Dilip Nachane completed his M.A. (Mathematics) and M.A. (Economics) at the University of Bombay (now Mumbai) with distinction, being awarded the Chancellor’s Gold Medal for obtaining the first rank at his M.A. (Economics) examination. He was later awarded the PhD (Economics) degree by the University of Bombay in 1973, for his thesis entitled Studies in the Theory of Optimal Economic Growth. He began his career as Assistant at the NIBM (National Institute of Bank Management, Pune, India) from 1973 to 1976, and was subsequently appointed Reader in Transport Economics at the Department of Economics, University of Bombay in 1976. In 1978, he was appointed of Modern Quantitative Economics (UGC Chair) at the Department of Economics, University of Bombay, in which he continued till 2003. From 1993 to 1999, he held the position of Director, Department of Economics, at the University of Bombay. From 2007 to 2010 he was the Vice-Chancellor of the Indira Gandhi Institute of Development Research, Mumbai. Since 2011 he was appointed Chancellor of Manipur Central University, a position that he continues to hold to date.
Nachane has held several visiting assignments abroad. He was Fulbright Post-Doctoral Fellow at the University of Texas (Austin, USA) in 1983-84, Hallsworth Fellow at the University of Manchester (UK) in 1987-88 and 1997-98, and Jean Monnet Fellow at the EUI (European University Institute, Florence, Italy) in 2002. Additionally, he has been Visiting at the University of British Columbia (Vancouver, Canada) in 1988-89, at the University of Ulster, UK (1991-92), and at the Otto von Guericke University (Magdeburg, Germany) (Summer 2002, 2003 and 2004).
In 2013 he was appointed a Member, Prime Minister’s Economic Advisory, Government of India, a position that he held till May 2014. He also served as a Member of the Technical Advisory Committee on Monetary Policy of the Reserve Bank of India(2005-11).. He has been actively associated with several Committees and Working Groups of the Reserve Bank of India, Government of India, and Government of Maharashtra. He is also on the Board of Directors and Governing Boards of several important organisations in India.
He is Editor-in-Chief of the Journal of Quantitative Economics (Springer) and an Editor of Macroeconomics and Finance in Emerging Market Economies (Francis & Taylor).
In recognition of his outstanding contributions to teaching and research in India, he was a recipient of the UGC Prnavanand Saraswati Award in 2004. The University of Mumbai had earlier conferred on him its Best Teacher Award in 2002. He was elected President of the Indian Econometric Society for the year 2002-03. He has ten books and about a 100 articles to his credit.