In Washington on Oct. 16, IMF chief Kristalina Georgieva praised India for its “very significant reforms” and highlighted the country’s big role in global growth. Speaking at a press conference during the annual IMF‑World Bank meetings, she listed reforms that have driven India’s rapid expansion.
“India is one of the fastest‑growing economies, and because of its size it contributes substantially to global growth,” Georgieva said. She pointed to tax reform, new infrastructure projects and digital connectivity as key drivers that have unleashed India’s growth potential.
The IMF has just nudged its 2025 growth forecast for India up to 6.6 %, a 0.2‑point increase in the latest Global Economic Outlook. The report noted that India’s strong first‑quarter performance is balancing the impact of U.S. tariff hikes on Indian imports.
India’s economy expanded 7.8 % in the April‑July quarter, beating all expectations. Georgieva described the country’s growth story as “impressive.” She lauded Indian leaders for bold policy changes, especially the rollout of a nationwide digital identity system that many had doubted could reach everyone.
The IMF chief also urged India to deepen trade ties. “India still has some trade barriers—tariffs and restrictions,” she said. “We need to decide if we want to maintain and raise these barriers or lean toward integration. Our relationship with the EU signals that trade should move forward.”
Georgieva concluded by encouraging India to keep doing what works: pursuing reforms and expanding its economic reach.
Source: ianslive
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