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.
"India
has
been
at
the
forefront
in
fighting
this
pandemic,"
she
said,
noting
that
India
has
been
providing
vaccines
through
grants
to
several
of
its
neighbour
countries,
including
Bangladesh,
Nepal
and
Myanmar,
and
through
commercial
arrangements
as
well.
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
was
responding
to
a
question
on
India,
which
is
a
vaccine
hub
of
the
world,
and
the
role
the
country
can
play
in
contributing
to
global
economic
recovery.
Gopinath
pointed
out
that
India
makes
up
about
7
per
cent
of
world
GDP
based
on
purchasing
power
parity
terms.
India's covid vaccine rollout rescued the world: Top US scientist
"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.
Noting
that
India
was
"hit
very
hard"
by
this
pandemic,
Gopinath
said
the
country,
which
typically
grows
at
over
6
per
cent,
recorded
a
growth
of
negative
8
per
cent
in
2020.
"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.
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Gopinath
gave
the
keynote
address
at
the
Inaugural
Dr
Hansa
Mehta
Lecture.
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.