We Don’t Need G20 As A Proof Of Recovery, Says K Subramanian Executive Director Of IMF

Dr. Krishnamurthy Subramanian, the Executive Director of the International Monetary Fund (IMF), addressed India's economic landscape in an exclusive interview with India Today's consulting editor, Rajdeep Sardesai. Dr. Subramanian expressed optimism about India's economic growth, emphasizing that the country achieved a commendable 7.2% growth rate last year. He anticipates that revised figures will push it closer to 7.5%, attributing this robust growth to India's prudent policies. Responding to critics who suggest that this growth conceals India's low economic base, Dr. Subramanian presented data comparing India's performance to other top economies, demonstrating India's significant growth over a three-year period. He emphasized that growth rates across sectors are rarely uniform, and the notion of a "K-shaped recovery" is disingenuous, as this pattern often occurs in any given year. Dr. Subramanian also highlighted India's successful response to the COVID-19 pandemic, maintaining strong macroeconomic fundamentals and low inflation. The G20's recognition of India further underscores its growing influence in global commerce.