Gender equality needs special focus: IMF chief Christine Lagarde

Reiterating IMF’s forecast of 7.4 per cent growth for India, she said it is obviously one of the fastest growing large economies of the world.
IMF chief Christine Lagarde
IMF chief Christine Lagarde

CHENNAI: International Monetary Fund chief Christine Lagarde said on Tuesday that India must continue with reforms especially in the financial services sector and should urgently focus on broad-based and inclusion of women in its economic growth.

Addressing a press conference as part of the all women co-chairs of the World Economic Forum annual meet in Davos, Lagarde pointed out IMF research has showed that raising women’s participation in the workforce to the level of men can boost Indian economy by 27 per cent.

She also expressed concern over high level of discrimination faced by women in rural India and emphasised that there is an urgent need to address this issue, adding, future growth would depend on how the country carry forward the reform process.  She said the one area that needs special focus is gender equality.

Reiterating IMF’s forecast of 7.4 per cent growth for India, she said it is obviously one of the fastest growing large economies of the world.

In its latest World Economic Outlook update released here on Monday, the IMF projected India growing at 7.4 per cent in 2018 as against China’s 6.8 per cent, making it the fastest growing country among emerging economies.

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