New Delhi: India's economic progress over the past decade deserves recognition, with the country's sustained growth and improving economic standing offering reasons for optimism, according to top economist Kyunghoon Kim on Sunday. In a post on social media platform X, Kim said that while India continues to face several challenges, its economic catch-up and medium-term growth prospects remain noteworthy achievements for a nation of 1.4 billion people.
"My conclusion remains the same: India faces many challenges, but its economic catch-up, especially over the past decade, and positive medium-term growth outlook are worth celebrating. For a country of 1.4 billion people, this progress matters enormously," he said.
The remarks come just a day after Kim highlighted India's impressive growth trajectory, noting that nearly all major global institutions, including the International Monetary Fund (IMF), Asian Development Bank (ADB) and World Bank, have recently upgraded their growth forecasts for the country to above 7 per cent for the current year and the next.
According to the economist, India's economy has displayed remarkable resilience since the Covid-19 pandemic. After contracting by 5.8 per cent during the pandemic, the economy rebounded by 9.7 per cent in 2021 and subsequently recorded growth of more than 7 per cent in each of the following four years. (IANS)
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