'India to play key role in Asia recovery'

“You have a very rapidly growing large economy in the South Asia region, and that is India, and India is now also integrating much more with the rest of Asia,” IMF Deputy Director of the Asia Pacific Department Kalpana Kochhar, told reporters.

“For example, trade between China and India is growing rapidly. Of course, it is mostly imports from China-but it has grown very rapidly in recent years. So prospects for integration both in the South Asia region amongst themselves and with the rest of Asia I think have greatly improved and will continue to do so,” she said.

IMF Director, Asia Pacific Department, Anoop Singh said that the fund expects Asia to continue leading the global recovery and grow by about 7 per cent this year and next year.

“As is now well-known, China and India will again lead Asia’s growth with growth rates of 10 and 8.8 per cent this year,” he said.
While the pattern of recovery has varied in Asia, as it has in other regions, Singh said it is important to note that both the more domestically oriented economies such as China, India and Indonesia as well as the more export-oriented economies are experiencing strong upturns.
Press Trust of India