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IMF expects India to play more role in Indo-Pacific growth
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SME Times News Bureau | 21 Apr, 2018
The International Monetary Fund expects India's role in the Indo-Pacific
region's development to continue to expand because of its robust
growth, but it has to carry out more trade reforms, Ken Kang, the deputy
director in IMF's Asia Pacific Department said on Friday.
"Given
our robust growth forecast where we see India's growth rising from 7.4
per cent in 2017-18 to 7.8 per cent in 2019, we do expect India's role
in the region to continue to expand," he said at a news conference in
Washington.
"That being said, India does have room to expand its
export orientation and to reduce further trade and non-trade barriers,"
he added.
"The statutory tariff rate in India is relatively high
at about 15 per cent, and higher than those in the rest of the region,"
he added. "So there is room to do more on trade reform."
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