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India, China important engines of regional and global economic growth, says IMF

'For the past several years, India and China have been important engines of regional and global economic growth. In 2017, India and China were responsible for almost half of global growth,' Tao Zhang, IMF Deputy Managing Director, said.

By: PTI | Washington | Published: March 11, 2018 11:57:16 am
India's foreign policy has become vibrant, assertive: Chinese think-tank In 2017, India and China were responsible for almost half of global growth. (Picture for representational purpose)

India and China have been important engines of regional and global economic growth, a top official of International Monetary Fund (IMF) said on Sunday, noting that a strong economic partnership between the two Asian giants would be beneficial. “For the past several years, India and China have been important engines of regional and global economic growth. In 2017, India and China were responsible for almost half of global growth,” Tao Zhang, IMF Deputy Managing Director, said.

The IMF, he said, strongly believes that the world benefits if individual countries implement sound stability-oriented macroeconomic policies and reduce barriers to trade and investment. “A strong economic partnership between India and China would be beneficial, and their collaboration is welcome. The BRICS and G20 summits are good examples,” Zhang said when asked about the impact these two economies collectively have on the global economy.

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