India expected to contribute over 16% to global growth, says IMF
India is expected to contribute over 16 percent of global growth as economic reforms in key sectors like infrastructure and digitalisation have made India a "star performer" among countries, as per the International Monetary Fund (IMF), PTI reported. "What we have been observing for quite some time now is that India has been growing at a very robust rate. It's one of the star performers when it comes to real growth when you look at peer countries.
It's one of the fastest growing large emerging markets and it's contributing, in our current projections, more than 16 percent of global growth this year," Nada Choueiri, the Mission of India at IMF said in an interview with the agency. According to Choueiri, a "strong push" by the government in logistics and infrastructure could navigate the economy through global headwinds. She also highlighted the focus on digitalisation putting India on a strong platform towards growth and productivity in the future.
"India has a very large, young and growing population and thus has the potential to grow at stronger rates if this potential is harnessed through structural reforms.," she added. Choueiri also stressed the significance of political stability in driving investment and growth. "While we haven't conducted specific quantitative analysis on this, extensive research underlines the criticality of political stability and a clear policy framework.
Read more on livemint.com
