WEF 2023: How IMF’s Gita Gopinath sees the India story unfolding

India in a relatively
bright spot, says
Gita Gopinath

In a conversation with Rahul Kanwal, News Director, India Today and Aaj Tak, IMF's First Deputy MD Gita Gopinath said that India is in a relatively brighter spot compared to other countries

'Many countries looking
at India as investment
destination'

Gita Gopinath said that many countries are looking at India as an investment destination as they try to diversify out of other nations including China on the sidelines of the World Economic Forum meet in Davos

How India can benefit from the diversification push

Gita Gopinath said, “Without a doubt what the world needs to do is more diversification and, in that context, India certainly can benefit from it.”

What should India’s G20 checklist look like

When asked about India’s potential contributions as the G20 chair, Gita Gopinath said that India is in a leading position on digital public infrastructure. She added that India’s G20 checklist should include the issue of cryptocurrencies and digital assets, a stronger debt resolution framework, climate financing

What Gita Gopinath thinks
of India’s neighbours 

While Gopinath sounded an optimistic note on the India story, here’s what she had to say about its immediate neighbours– Pakistan and China

Davos 2023: Gopinath on China

Gopinath told Business Today, “What we have right now in China is indeed a health crisis with the pandemic going around in full force. If you look at peak infection rates and so on, we’re seeing peaks, for instance, happen in Beijing.”

China’s pluses and minuses

Since infection rates are likely to come down by the end of Q1, Gita Gopinath said that the growth rate will go up due to factors like normal mobility, and removal of COVID-19 restrictions

Gopinath on China

Gita Gopinath added that the property sector crisis, aging demography and slowing external demand could, however, dent the Dragon’s growth trajectory

Will Pakistan become the
next Sri Lanka? 

Gita Gopinath said that just like Sri Lanka, Pakistan is also in dire straits due to the floods in Sindh. She said, “These are difficult times."

Gita Gopinath on Pak's economic crisis

"We’re working very closely with all our members including Pakistan. We’ll see how things play out," said Gita Gopinath. She added that Pakistan needs to improve its fiscal position given the forex crisis

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