WASHINGTON: India remains a key driver of global growth as the world’s fastest-growing major economy, supported by strong fundamentals and sound policy frameworks, International Monetary Fund Deputy Managing Director Nigel Clarke has said.
Clarke visited India last week and held meetings with Finance Minister Nirmala Sitharaman, RBI Governor Sanjay Malhotra, NITI Aayog Vice Chairman Ashok Kumar Lahiri and business leaders.
“India continues to be a key driver of global growth as the world’s fastest-growing major economy, supported by strong fundamentals and sound policy frameworks,” Clarke said in a statement on Tuesday.
The senior IMF official said his discussions with policymakers focused on India’s economic outlook, the evolving global environment, and policy priorities to support sustainable and inclusive growth.
“India has the potential to power the next wave of global growth, and the IMF remains a close partner in supporting the country on this journey,” Clarke said.
He also held meetings with government officials and business leaders in Mumbai and Chennai during his visit to India from September 7-11.
Clarke said against a backdrop of heightened global uncertainty and evolving risks, preserving macroeconomic stability and resilience remains essential.
“We discussed the importance of maintaining nimble policies, keeping inflation in check, and advancing reforms that can lift productivity, strengthen competitiveness, and sustain strong growth over the medium term,” Clarke said.
The IMF official also thanked the Indian government for its continued support of multilateralism and other countries in the region.
“I am grateful for the opportunity to engage with business leaders and was impressed by India’s private sector dynamism, deep talent pool, and rapidly evolving technological and manufacturing capabilities,” Clarke said.
He said his interactions highlighted how innovation, digital transformation, advanced manufacturing, and technology adoption can boost productivity, strengthen competitiveness, and support higher-value activities.
“Sustained investment in skills and responsible technology use will be important to ensure that the benefits of growth are widely shared,” Clarke said.