The significant contribution by India and China in "revival of global economy" was highlighted by The International Monetary Fund. This statement came as answer to a question asked to an IMF official.

Responding to some questions, IMF Deputy Director, Asia and Pacific Department, Kalpana Kochhar said, "When you have two relatively large economies growing at 7 and 10 per cent, respectively, India and China, they are contributing quite a lot to global growth. Our forecast for global growth for next year is close to 4%. Most of it is in fact coming from emerging markets, a large part from China and India".

Ms. Kochhar said also added, "The Indian rupee is broadly in line with fundamentals. Our assessment actually hasn't changed in a couple of years that this is the case, and we believe this is because of the policy of the RBI to allow the exchange rate to float and to move in both directions in line with market forces".

IMF Division Chief, Asia and Pacific Department, Laura Papi said "A lot of emerging markets are facing that situation. Actually India itself has faced that situation a couple of years ago, and the authorities have handled it well. There is also healthy outflow out of India for FDI purposes. We feel that the authorities have a good mix of tools that could be employed if capital inflows surge very significantly".