Webinar Link

Meeting No: 2517 963 0354
Password: article4

Certificate of Participants

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Abstract

India is one of the fastest growing economies of the world and is poised to continue on this path, with aspirations to reach high middle income status by 2047, the centenary of Indian independence. It is also committed to ensuring that its continued growth path is equipped to deal with the challenges of climate change, and in line with its goal of achieving net-zero emissions by 2070.In fiscal year 2023-24, India's economy demonstrated resilience, achieving a real GDP growth of 8.2%, surpassing the 8% mark in three out of four quarters. This growth was primarily driven by robust performances in manufacturing and services sectors. Retail inflation decreased to 5.4% from 6.7% in the previous fiscal year, attributed to effective administrative and monetary policies. The Current Account Deficit improved to 0.7% of GDP, down from 2.0% in the prior year, supported by strong services exports. These indicators reflect India's economic resilience and growth prospects. The focus of the webinar will be the growth and challenges of the country.

About the speakers

Ranil Salgado

Mr. Ranil Salgado, a dual national of the U.S. and Sri Lanka, became the IMF Resident Representative based in Delhi in March 2024. He has been in the IMF for over 27 years and is an Assistant Director in the IMF’s Asia and Pacific Department (APD).

Prior to his appointment on India and Bhutan, he was most recently the IMF’s mission chief to Japan and supervised work on Timor-Leste and Tonga. He co-edited the book “South Asia’s Path to Resilient Growth” that was published in 2023. Among his previous roles in APD, he served as the mission chief to India (2017-2020), the Marshall Islands, Myanmar, and Nepal, as well as chief of the Regional Studies Division and the IMF Resident Representative in Singapore (2005-2008). He also supervised work on Bhutan, the Maldives, and Micronesia. His time at the IMF includes work in the Western Hemisphere; Research; and Strategy, Policy, and Review Departments.

Prior to joining the IMF, he worked in a strategy management consulting firm and as teaching and research assistants at the University of Pennsylvania, Johns Hopkins University, and the Federal Reserve Board of Governors. He attended the University of Pennsylvania (masters & PhD in economics), along with Harvard University (undergraduate in chemistry) and Cambridge University (masters in biochemistry).

Nujin Suphaphiphat

Nujin Suphaphiphat is a Senior Economist covering monetary policy and financial sectors for India in the Asia and Pacific Department, International Monetary Fund. Prior, she was the desk economist on Austria, Bulgaria, Cambodia, the Euro Area, Fiji, and Iceland. She also worked at the Strategy, Policy, and Review Department. She holds a Ph.D. in economics from Duke University.

Cristian Alonso

Cristian Alonso is an economist in the IMF’s Asia and Pacific Department. Previously, he worked in the IMF’s Fiscal Affairs Department serving as fiscal economist for Honduras and Egypt. He is currently working on issues pertaining to consumption, income, and gender inequality, labor markets, and fiscal policy. He holds a Ph.D. in Economics from Princeton University.