Bangladesh holds “lessons” for India’s economic development: IMF

New Delhi, Oct 16 (UNI) Amid Covid that is impacting global economy, the International Monetary Fund (IMF) has forecast that Bangladesh will edge past India this year in per capita GDP.

According to sources, the IMF also observed that Bangladesh has “lessons” for India to brave the pandemic induced economic and other distresses to revive country’s pre-Covid “performances”.

“The springboard for Bangladesh’s growth has been a tighter integration into global value chains for textiles, while India has reverted to it’s import substitution approach by using tariffs to protect domestic industry,” the IMF maintained.

“An export-oriented approach remains the best bet to revive India’s pre-pandemic economic position,” it said.

Incidentally, some political pandits are of the view that the Government must also expand economic cooperation and connectivity with Bangladesh.

According to them, in India’s “overheated” political rhetoric, references to Bangladesh are mostly “negative.”

“The salient characterisation is that, besides current evidence, it’s an economic basket case, forcing desperate job seekers to cross illegally into India,” the pandits opine.


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