India is at a relatively ‘bright spot’ in the world economy and must leverage exports: IMF
- IBEF
- January 9, 2023
The Deputy Managing Director of the International Monetary Fund (IMF), while addressing the Conference on South Asia's Path to Resilient Growth of India, Ms. Antoinette Sayeh, stated that currently, India is at a relatively bright spot in the world economy and is growing at rates significantly more than the average of its peers. She also added that India should leverage its existing strength in service exports and extend it to job-rich manufacturing exports by deepening its global value chain participation and complementary structural reforms that can boost productivity, formal employment, and exports.
At the conference, the Governor of the Reserve Bank of India (RBI), Mr. Shaktikanta Das said that controlling the inflation along with reducing external debt vulnerabilities, moving focus to high productive sectors, strengthening energy security, cooperation on greener economy and increasing tourism are the top priorities for the South Asian countries. He also revealed that as per the estimates of the IMF, the South Asian region contributed around 15% to the global growth, which was led by India and Bangladesh.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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