IMF: India one the Fastest Growing Large Economies

The International Monetary Fund has acknowledged that India as one of the fastest growing large economies in the world.

The Washington based organisation observed that India grew at an average rate of 7 per cent during the last five years.”India has of course been one of the world’s fastest growing large economies of late, with growth averaging about seven per cent over the past five years” said Gerry Rice, communications director at IMF.

Rice welcomed the reforms that have been implemented during that period and stressed the need for more such reforms “Important reforms have been implemented and we feel more reforms are needed to sustain this high growth, including to harness the demographic dividend opportunity, which India has” he said.

More details regarding Indian economy would be released in the World Economic Outlook (WEO) survey report that would be released by the IMF in April.