India, China have major role in revival of global economy: IMF

Lalit K Jha
Washington, Feb 5 (PTI) The International Monetary Fund
has said India and China are playing a significant role in
the revival of the global economy.
"When you have two relatively large economies growing at
7 and 10 per cent, respectively, India and China, they are
contributing quite a lot to global growth," IMF Deputy
Director, Asia and Pacific Department, Kalpana Kochhar said
during a teleconference here.
"Our forecast for global growth for next year is close to
4 per cent. I think it's 3.9 per cent, of which advanced
countries are only contributing less than two per cent. So the
rest of it is in fact coming from emerging markets, and from
within emerging markets, a large part from China and India,"
Kochhar said.
"So it's a significant contribution that's coming from
these two countries," the IMF official said in response to a
question.
In response to a question, Kochhar said the Indian rupees
is broadly in line with fundamentals.
"We have a number of ways in which we look at whether the
value of any currency, including the rupee, is in line with
what we call fundamentals. Our assessment in the case of the
Indian rupee is that it is broadly in line with fundamentals,"
she said. More PTI