The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, expressed confidence on Thursday that India's pursuit of reforms over the past years has been a key factor in its economic success. Georgieva highlighted India's role as a bright spot in the world economy and upgraded growth projections to 6.5 percent in 2024, building on the nation's strong performance in 2023.
She identified India's digital initiatives, including digital public infrastructure, digital ID, and the emphasis on making digital a comparative strength, as significant advantages. Georgieva commended India for recognizing the need to enhance female participation in the labor market and Prime Minister Narendra Modi's commitment to empowering Indian women economically.
Additionally, she stressed the importance of innovation in driving future competitiveness, citing India's effective investment in research and development, exemplified by achievements such as the moon landing. Georgieva acknowledged India's focus on strengthening public finances to support long-term growth objectives but urged caution in monitoring this aspect.
Responding to a question about Prime Minister Modi's vision of making India a developed nation by 2047, Georgieva expressed confidence in its achievability and advised staying the course. She emphasized the need to eliminate obstacles for private entrepreneurship and applauded India's visible strength—confidence, both in leadership and among the people.
In conclusion, Georgieva encouraged India to maintain its positive trajectory, acknowledging the nation's confidence in its economy and its commitment to sustained growth.
(With Agency Inputs)