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India needs more economic reforms to ensure growth, attract investment: IMF

In recent weeks, several international companies have pledged $20 billion FDI in India, and a whopping $40 billion this year so far

IMF
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Relevant reforms have included the new bankruptcy code, the National Goods and Services Tax

Press Trust of India Washington
Concerted efforts by India to strengthen the business climate and encourage investment in the trade have helped to attract investment, but the country needs further economic reforms to ensure sustainable and more inclusive growth, the IMF said on Thursday.

The remarks by the International Monetary Fund's Chief Spokesperson Gerry Rice came in response to a question on the recent FDI announcements made by companies like Facebook and Google in India.

In recent weeks, several international companies have pledged $20 billion FDI in India, and a whopping $40 billion this year so far.

Concerted efforts have been made in recent years,

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First Published: Jul 23 2020 | 11:39 PM IST

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