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India reclaiming its place as growth leader after short slowdown: IMF

Ahead of IMF's World Economic Outlook 2018, slated to be released next week, highlighting bright outlook of Asia with strong consumption and investment, rising exports, and steady capital inflows, the International Monetary Fund's (IMF's) deputy managing director, David Lipton has said that India is reclaiming its place as a growth leader in the world, after witnessing the short term slowdown in economic growth.

Lipton also expressed optimism over the global economic outlook, saying that the cyclical recovery in the global economy is going from strength to strength with signs of faster growth across all regions. However, he expressed need of steps to enable stronger growth and to address growth impeding vulnerabilities and structural issues like rapid appreciation of asset valuations over the past year, unexpected monetary policy and exchange rate developments and geopolitical tensions.

On the investment and trade front, David Lipton said that capital-intensive investment and consumer demand are rising in the world, lifting world trade at a rate well above GDP growth. He further added that other economic factors like unemployment and inflation are also showing decline across the world.

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