International Monetary Fund (IMF) Chief Christine Lagarde has once again backed India and said “India’s star shines bright” amid global economic challenges.
Appreciating India’s continuing reform process, Lagarde said that India stands to deliver nearly two-thirds of the worldwide growth over the next four years despite the fact there is a slowing momentum.
Lagarde said that India is the world’s fastest-growing large economy which is on the verge of having the world’s largest and youngest-ever workforce.
She added that within a decade India is set to become the world’s most populous country and thus stand “at a crucial moment in its history.”
While addressing a conference on ‘Advancing Asia: Investing for the Future,’ which was also attended Prime Minister Narendra Modi, IMF Managing Director said:
“Think, for example, of Make-in-India and Digital India. And with the promise of even more reforms to come, India’s star shines bright.”
She said that the global economy is facing many challenges but despite that Asia and India stands on a strong ground and today “accounted for 40 per cent of the global economy”.
Lagarde, along with union minister Arun Jaitley, also signed a Memorandum of Understanding (MoU) between IMF and India, to establish a capacity development center in Delhi. The development center will fully integrate training and technical assistance for future capacity development work.