Dr. Arpita Amarnani


  • Sustainable Finance Foundation Course, 2019, A residential course designed and developed by the Oxford Sustainable Finance Programme at the Smith School of Enterprise and the Environment, University of Oxford as an introduction to sustainable finance 
  • Transformative Teachers Programme, 2018-19, A transformational leadership programme conducted by MITs Dalai Lama Centre for Ethics and Transformative Leadership specially designed for members of the faculty at Goa Institute of Management
  • International Teachers Programme, 2018, A faculty development  programme organised by the International Schools of Business Management (ISBM), a group of twelve leading business schools located in Europe, North America and Asia, and supported by the European Foundation for Management Development (EFMD) hosted by IAE AIX-Marseille Graduate School of Management, France
  • Ph.D. in Management, 2013, Dharmsinh Desai University, Nadiad, Gujarat
  • MBA (Finance),  1997, B.K.School of Business Management, Gujarat University
  • BE (Electrical), 1994, L.D.College of Engineering, Gujarat University

Areas of Expertise

Sustainable finance, Renewable Energy Finance, Microfinance, Corporate Finance, Indian Financial System, Fintech

Arpita Amarnani

Profile & History

Dr. Amarnani is an Associate Professor at Goa Institute of Management. She has been with GIM since October 2014. Dr. Amarnani has over nineteen years of corporate and academic experience, two of which were in the power sector with Torrent Power Ltd., Ahmedabad. She has previously taught at Institute of Management, Nirma University, Som-Lalit Institute of Management Studies, Ahmedabad and N.R. Institute of Business Management, Ahmedabad.
Dr. Amarnani’s research interest are mainly in the area of Sustainable Finance, corporate finance, financial systems and Fintech. She has worked extensively with poor women in Sabarkantha district of North Gujarat to understand the impact of microfinance on their lives. She has published papers in national journals and contributed papers to national and international conferences. Her paper, “Venture Capital as a source of funds for Microfinance Institutions” won the best paper in finance award at an International Seminar organized Institute of Management, Nirma University in 2007, Another paper of hers, ‘Business cycle synchronization between Emerging Asian Economies and the developed US economy’ won the second prize in faculty and business delegates category at an International seminar organized by Institute of Management, Nirma University in 2011. Her current research is in the field of sustainable financial systems and the fintech sector.
She heads the Centre for Excellence in Sustainable Development and is involved in various sustainability projects undertaken at GIM. Prior to this she was co-chair for the GiveGoa initiative at GIM.

  • Courses taught: Financial Management, Management of Financial Services, Indian Financial System, Microfinance, Infrastructure Financing



  • Amarnani, Arpita (2020): “Green Bonds: A Growing Phenomena or A Passing Fad?”, Voice of Research, Vol 9, Iss 1, June 2020
  • Amarnani, Neeraj and Arpita Amarnani (2019): “Digital Payments: Increasing Significance in Indian Context”, Voice of Research, Vol 8, Iss 1, June 2019
  • Amarnani, Arpita (2016): “India’s emphasis on solar energy: issues and challenges in the new path”, Energy Manager, 4(9), 36-47 
  • Amarnani, Arpita and Neeraj Amarnani (2015): “Impact of Microfinance on Poor Women: Lessons from Sabarkantha, Gujarat”, IIM Kozhikode Society & Management Review, 4(2): 92-105
  • Amarnani, Arpita, Neeraj Amarnani and Sarla Achuthan (2010): “Microfinance Sector in India: Evolution and Current Challenges”, Nirma University Journal of Business and Management Studies, 5(1&2): 25-45
  • Amarnani, Arpita and Neeraj Amarnani (2008): “Venture Capital Funds for Microfinance in India”, Nirma University Journal of Business and Management Studies, 2(3&4): 33-50


  • Presented a research paper titled, 'A Review of the Emerging Cryptocurrency Eco-system" (jointly with Prof. Neeraj Amarnani, Goa Institute of Management) at Conference on Applied Economics and Finance, Goa Institute of Management on 17th December, 2019.
  • Invited talk on 'Leadership and Women Empowerment' at a conference on 'Women in Sciences and Engineering' at Indian Institute of Technology, Kanpur on 20th October, 2019
  • Presented a paper titled, ‘India’s emphasis on solar energy: issues and challenges in the new path’ at 4th Triennial International Workshop on ‘Evolving Energy Models in Emerging Economies- Post COP21’ organized jointly by Centre for Science and Technology of the Non-Aligned and other countries (NAM S&T Centre) and Society of Energy Engineers and Managers, December 9-12, 2016
  • Presented a paper titled, ‘Reduction in Poverty through Microfinance: The Supath Experience,’ at a National level seminar on Microfinance sponsored by The Planning Commission and organized by Supath Gramodyog Sansthan, August 21, 2009.
  • Presented a paper titled, ‘Empowering Women Through Microfinance’, (Jointly with Prof. Sarla Achuthan, Ex. Director, B.K School of Business Management, Gujarat University) presented at MHRD National Conference on ‘Redefining Feminism/s’, at Dept. of English, University School of Languages, Gujarat University, Ahmedabad, October 16-18, 2005


Book Chapters:

  • Patel, Neha and Arpita Amarnani (2012): “The effect of Globalization, Global Brands and Rural Marketing Strategies on the rural consumer”, published in P. Chugan & S. Pingle (Eds.) (2012) Epoch Strategies for Marketing, Family Business and Entrepreneurship (New Delhi: Excel India)
  • Amarnani, Arpita and Kartikey Jani (2012): “Gujarat Tractors Corporation Ltd”, published in Gopalkrishnan, C. (2012) The Entrepreneur’s Choice: Cases on Family Business in India, (New Delhi: Routledge India)
  • Jotwani, Dhiren and Arpita Amarnani (2011): “Business Cycle Synchronisation between Emerging Asian Economies and the Developed US Economy”, published in Mehta, Bindi and Nityesh Bhatt (Eds.) (2011) Managing in Turbulent Times- Business Ecosystem & Macro Perspectives, (New Delhi: Excel Books)
  • Amarnani, Arpita and Neeraj Amarnani (2008): “Microfranchising – Market Development with a Cause”, published in Dhar, Upinder, V.V.Nath, S.K.Nair and P.K.Yadav (Eds.) (2008) New Age Marketing – Emerging Realities, (New Delhi: Excel Books)
  • Amarnani, Arpita and Neeraj Amarnani (2007): “Venture Capital as a source of funds for the Microfinance sector in India”, published in Jain, Rajesh.K.,  Prashant Gupta and Upinder Dhar (Eds.) (2007) Enhancing Enterprise Competitiveness -Strategy, Operations and Finance (New Delhi: Allied Publishers Pvt. Ltd.)


  • Assistant Professor, Institute of Management, Nirma University, Ahmedabad
  • Lecturer and Assistant Professor, Som Lalit Institute of Management Studies, Gujarat Technological University, Ahmedabad 
  • Lecturer, Navanitlal Ranchhodlal Institute of Business Management, Gujarat University, Ahmedabad
  • Assistant Manager, Gujarat Torrent Energy Corporation Ltd., Ahmedabad
  • Graduate Apprentice (Electrical), The Ahmedabad Electricity Company Ltd., Ahmedabad