The IMF Managing Director, Kristalina Georgieva, highlighted India’s significant economic reforms and its contributions to global growth during a press conference at the IMF-World Bank meetings in Washington. She emphasised India’s rapid growth and substantial role in global economics, attributing this to reforms like tax policies, infrastructure investments, digital infrastructure, and improved road connectivity. These efforts have unlocked India’s growth potential.
The IMF recently upgraded India’s 2025 growth forecast to 6.6%, a 0.2 percentage point increase, reflecting strong first-quarter performance. The report noted that India’s robust growth in early 2025 is offsetting the impact of increased US tariffs on Indian imports. India’s economy grew at 7.8% in April-July, surpassing expectations.
Georgieva praised India’s bold reforms, especially in digital identity, calling the country’s approach “impressive” and noting its success in implementing policies others deemed impossible. She stressed the importance of trade integration, encouraging India to consider reducing trade barriers and tariffs to strengthen economic ties, especially with the EU. She urged India to continue pursuing effective reforms that have driven its growth thus far.
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The IMF views India as a rapidly growing, reform-focused economy that contributes significantly to global economic stability. Georgieva’s comments reflect confidence in India’s ongoing reform path and its potential to further integrate into global markets, emphasising the importance of strategic trade policies to enhance future growth.
