Skip to main content

IMF says Indian economy will be fourth largest by 2022: Bloomberg

Other significant challenges before the Indian economy are overhauling the infrastructure, creating job opportunities, and raising corporate investments in the country. Photograph: (AFP)

WION New Delhi, Delhi, India Apr 28, 2017, 07.06 AM (IST)

India's economy will overtake that of Germany to become the fourth largest and knock Britain out of the top five by 2022, an IMF study, based on analysis of growth projections, said, reported Bloomberg.

But there are significant headwinds before the economy. The biggest risk is the massive amount of bad debts plaguing the Indian banking industry.

IMF's deputy managing director Tao Zhang, in an exclusive interview to PTI, said that the health of the Indian banking industry, which is facing massive amounts of bad debt, is a concern for IMF.

However, he expressed confidence in the economic reforms being taken up. He said that the roll out of GST could move up the medium-term economic growth rate to more than eight per cent.

Other significant challenges before the Indian economy are overhauling the infrastructure, creating job opportunities, and raising corporate investments in the country.

(WION) 

Show Comments
  • delete