The International Monetary Fund warned on Monday that escalating and sustained trade conflicts are increasingly likely, threatening to derail economic recovery and depress medium-term growth prospects.
IMF has urged India to strengthen the ability of banks to go after debtors and warned that debts negatively impact investments.
India is expected to grow at 7.4 pc in 2018 and 7.8 pc in 2019, leaving its nearest rival China behind respectively at 6.6 and 6.4 percent in the two years, the IMF said.
Global growth will keep a steady pace this year and next, buoyed by stronger trade and US fiscal stimulus that will fade by the early 2020s, IMF said.
The Nifty touched a new high (intra-day) of 11,092.90 today. It closed the session with a hefty rise of 117.50 points, or 1.07%, at a fresh life high of 11,083.70,
IMF chief said India must continue with reforms especially in the financial sector and should urgently focus on broad- based and true inclusion of women in its economy.
India is projected to grow at 7.4 pc in 2018 as against China's 6.8 percent, the IMF said, making it the fastest growing country among emerging economies.
Issues on domestic front have been tackled to the best of government's fiscal capabilities, now external sector should be explored for lucrative economic possibilities.
The International Monetary Fund (IMF) on raised its global growth forecast for 2017 and 2018 due to a broad-based recovery in Europe, China, Japan and the US.
The IMF said the global economic recovery is continuing at a faster pace as it upgraded its growth projection to 3.6 percent for this year.