Owing to India, South Asia becomes the pivot of growth
The latest research by the International Monetary Fund has indicated that led by India, South Asia is moving towards becoming driver of global growth and could contribute about one-third of the world’s growth by 2040. Ahead of the release of IMF’s paper titled ‘Is South Asia Ready for take Off? A sustainable and inclusive growth agenda,’ Anne-Marie Gulde-Wolf, Deputy Director, Asia and Pacific Department, IMF stated “We have a region with a massive potential for demographic dividend. (This is), a region that has been seen over the recent past significant growth spurt.”
Some of the recommendations for the region include further progress in revenue mobilisation and fiscal consolidation; greater trade and foreign direct investment (FDI) liberalisation; and investment in people.