- IMF's Nigel Clarke hails India as "a key driver of global growth" after week-long visit
- Says India "has the potential to power the next wave of global growth"
- Impressed by India's "private sector dynamism, deep talent pool" in Mumbai, Chennai talks
- Met Sitharaman, RBI's Malhotra and NITI Aayog's Lahiri during Sept 7-11 trip
INDIA remains a key driver of global growth as the world's fastest-growing major economy, a senior International Monetary Fund official has said, praising the country's strong fundamentals, sound policy frameworks and dynamic private sector.
"India continues to be a key driver of global growth as the world's fastest-growing major economy, supported by strong fundamentals and sound policy frameworks," IMF Deputy Managing Director Nigel Clarke said in a statement on Tuesday.
Clarke visited India from September 7-11, meeting Finance Minister Nirmala Sitharaman, RBI Governor Sanjay Malhotra, NITI Aayog Vice Chairman Ashok Kumar Lahiri, and business leaders in Delhi, as well as government officials and business leaders in Mumbai and Chennai.
"India has the potential to power the next wave of global growth, and the IMF remains a close partner in supporting the country on this journey," Clarke said, adding that his discussions with policymakers focused on India's economic outlook, the evolving global environment, and policy priorities to support sustainable and inclusive growth.
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Clarke said he came away impressed by what he saw of India's business landscape. "I am grateful for the opportunity to engage with business leaders and was impressed by India's private sector dynamism, deep talent pool, and rapidly evolving technological and manufacturing capabilities," he said.
He said his interactions highlighted how innovation, digital transformation, advanced manufacturing, and technology adoption can boost productivity, strengthen competitiveness, and support higher-value activities.
"Sustained investment in skills and responsible technology use will be important to ensure that the benefits of growth are widely shared," Clarke said.
He also thanked the Indian government for its continued support of multilateralism and other countries in the region.
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Even so, Clarke said preserving macroeconomic stability and resilience remains essential against a backdrop of heightened global uncertainty and evolving risks.
"We discussed the importance of maintaining nimble policies, keeping inflation in check, and advancing reforms that can lift productivity, strengthen competitiveness, and sustain strong growth over the medium term," he said.
