India Has Emerged As "Bright Light" Economy Amid Global Recession: IMF
NDTV
According to chief economist of IMF, India needed key structural reforms in order to achieve the ambitious target of being a USD 10 trillion economy.
India has emerged as "a bright light" at a time when the world is facing imminent prospects of a recession, the chief economist of the International Monetary Fund (IMF) said on Wednesday, noting that the country, however, needed key structural reforms in order to achieve the ambitious target of being a USD 10 trillion economy.
Pierre-Olivier Gourinchas, chief economist of the IMF said: "Well, India is, I want to say, sort of bright light. The Indian economy has been doing reasonably well." In its World Economic Outlook on Tuesday, the IMF projected a growth rate of 6.8 per cent in 2022 as compared to 8.7 per cent in 2021 for India.
The projection for 2023 slides down further to 6.1 per cent, he noted.
Responding to a question on the ambitious goal of India becoming a USD 10 trillion economy, Gourinchas told PTI that he certainly believes this is achievable.
