Gita Gopinath, IMF First Deputy Managing Director On India's Economy, Viksit Bharat And Challenges

In an exclusive interview with Rahul Kanwal, Executive Director of Business Today, IMF’s First Deputy Managing Director, Dr. Gita Gopinath, discusses India’s economic prospects. She notes that consumption, including in rural areas, is picking up, which is a positive indicator for the country's economic growth. Dr. Gopinath also explains why the IMF has raised India's growth projection to 7%, affirming that India is set to remain the fastest-growing economy among the G20 nations. She outlines what the government needs to do to achieve the higher growth rates projected by the IMF, highlighting the importance of infrastructure and digital reforms, education, and workforce skilling. Additionally, she touches on the need for reforms in land and agriculture sectors and discusses the impact of trade tariffs and protectionism. Dr. Gita Gopinath also comments on the employment-linked incentive scheme introduced in the recent budget, suggesting that linking it with other schemes might yield better results, although the IMF is still awaiting outcomes. When asked about India's 'Viksit Bharat' goal for 2047, she acknowledges that while India is currently the fastest-growing major economy, 2047 is still a long way off. However, she expects India to become the third-largest economy in the world by 2027 based on current growth projections. She also gives her views on addressing the widening gap between the rich and the poor in India. She also discusses the IMF's economic projections for Bangladesh following the recent crisis. Tune in to the full interview for deeper insights from Dr. Gita Gopinath, IMF’s First Deputy Managing Director, on India’s growth outlook and future trajectory.