This, she said, holds true for all countries including India that want a bigger share in the global export market
At a time when the Centre has given a clarion call for an 'Atmanirbhar Bharat' or a self-reliant India, International Monetary Fund (IMF) Chief Economist Gita Gopinath said the country needs to look at implementing policies that facilitate integration with global supply chains instead of 'backing off'. This, she said, holds true for all countries, including India, that want a bigger share in the global export market.
In an interview to CNBC-TV18, Gopinath said even as many countries are reassessing the benefits of globalisation, greater integration with the world would generally be the best practice. She said for countries wishing to give manufacturing a push and have a job-rich recovery, being a part of global supply chains is the best practice as they would need their intermediate goods from the rest of the world.
The IMF on June 24 reversed its growth projection for India in FY21. It's latest estimate projects a contraction of 4.5 percent for the country's economy this fiscal.