‘India doing well, but challenges ahead'

Agencies
Posted: Saturday, Oct 20, 2007 at 0000 hrs IST
Updated: Saturday, Oct 20, 2007 at 1153 hrs IST

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Washington, October 20:: the world and the rest of the region. And that means that its economic performance has an important impact on global economic growth" Burton added.

"And India, too, though it's historically been more closed than China, has been opening up. And it is having a greater impact than it used to through trade channels, although it remains somewhat less open than China" he added.

"In terms of contribution to growth because the two countries are large and growing fast, they account for a significant portion of world growth. But as we point out in one of the chapters in the Regional Economic Outlook, this question of de-linking from the rest of the world. They [China and India] do account for a lot of growth, but the initial impetus to growth still comes very much from domestic demand in the rest of the world and not domestic demand generated independently in Asia" remarked Steven Dunaway, Deputy Director in the Fund's Asia Pacific Department....

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