In terms of vaccine policy India really stands out: Gita Gopinath
New Delhi, Mar 09: India has been at the forefront in fighting the coronavirus pandemic and "really stands out" in terms of its vaccine policy, Chief Economist of the IMF Gita Gopinath said on Monday, as she hailed the country for playing a very important role during the crisis by manufacturing and shipping the COVID-19 vaccines to several nations.
Gopinath made the comments in an interactive session during the Inaugural Dr. Hansa Mehta Lecture organised on occasion of International Women's Day.
"I also want to mention that India really stands out in terms of its vaccine policy. If you look at where exactly is one manufacturing hub for vaccines in the world - that will be India," Gopinath said.
Gopinath lauded the Serum Institute of India, saying it produces the most number of vaccines in the world in a regular year and has been manufacturing the COVID-19 vaccine doses that are delivered to COVAX and then distributed to countries around the world.
The country has been playing a very important role in helping the world in the global health crisis through its vaccination policies, she said.
Gopinath pointed out that India makes up about 7 per cent of world GDP based on purchasing power parity terms.
"So when you're that large, what happens in India has implications for many other countries in the world, especially countries in the region," she said.
"So it was very hard hit but you do see the recovery coming back as the country has reopened, activities returning," she said.
The International Monetary Fund (IMF) has projected an impressive 11.5 per cent growth rate for India in 2021, making the country the only major economy of the world to register a double-digit growth this year amidst the coronavirus pandemic.
"Now because of its size, when you have India growing, it increases demand for goods from other parts of the world and that''s a big positive," she said.
The lecture, named in the memory of the pioneering Indian reformer and educator, was organised virtually by India's Permanent Mission to the UN and The United Nations Academic Impact.