The Indian Institute of Economics was founded in 1953 as the National Centre for Theoretical and Applied Economic Research by a group of economists under the leadership of Professor S. Kesava Iyengar, who served as the Economic Advisor to H.E. the Nizam of Hyderabad State. The Institute was officially registered as an autonomous Non-Profit Society under the Public Societies Registration Act 1350 F, with registration number 5/1953, dated March 7, 1953.
Furthermore, the Institute gained recognition as an Educational Research Institution from the erstwhile Government of Hyderabad, as indicated in notification No. 33/5, dated June 1953, issued by the Secretary to Government in the Education Department. In addition to this recognition, the Institute was acknowledged as a Research Centre for Ph.D. studies by Osmania, Andhra, Sri Venkateshwara, and Mysore Universities.
In alignment with its objectives, the Institute established a library housing several volumes of publications and subscribes to approximately forty Indian and international journals. This library is widely regarded as a valuable reference resource in Hyderabad, providing significant support to research scholars in the fields of Economics and other Social Sciences.