New Delhi:
In a special conversation with NewsDeskReport, Geeta Gopinath, Deputy Managing Director of the International Monetary Fund (IMF), shared important information about India’s economic growth at the World Economic Forum 2025 going on in Davos. Discussing the latest Global Growth Forecast of IMF, he said that the global growth rate for 2025-26 is likely to be 3.3%.
However, he also clarified that America is in a strong position in the global economy, while Europe remains weak and China is facing many challenges.
India is the fastest growing economy in the world
Geeta Gopinath said that India will remain the fastest growing economy in the world with a growth rate of 6.5%. But he also said that to maintain this momentum and achieve the ‘Developed India 2047’ target by 2047, many important reforms will have to be done. These changes focused on increasing government investment, making business easier, simplifying the process of buying and selling land and reducing tariffs.
He said that India’s economy has recently seen a slight slowdown, which was due to the Lok Sabha elections held in April-June last year. However, he described this slowdown as temporary and expressed confidence that the economy will regain strength in the coming months due to increased spending in rural areas.
India’s global position strong
Geeta Gopinath said that India’s position in the world remains strong. He said that America has strengthened its economy again, while Europe needs to increase its productivity. At the same time, China needs to increase its real estate sector and domestic demand.
Many major reforms needed to become a $10 trillion economy
The Government of India has set a target of making India a $10 trillion economy by 2047. Regarding this, Geeta Gopinath said that to achieve this goal, India will have to make many major structural reforms. Keeping in mind the changing global scenario and geopolitical circumstances, India will have to take concrete steps for sustainable and inclusive growth.
The senior IMF official advised India that to strengthen the economy, it should increase investment in public and private sector, make business easier and take steps like reducing taxes. He said that if these changes are made properly, India can remain the fastest growing economy in the world in the times to come.