11 NOV,2019 | MEDC
According to the latest research by the IMF, led by India, South Asia is poised to become a centre of global economic growth. The region is expected to contribute about a third of the world’s growth by 2040. As per the IMF’s geographical definition, South Asia includes India, Bangladesh, Sri Lanka, Nepal, Bhutan and Maldives. India may have backed out of the RCEP, but it is still the biggest driver of economic growth in the vast South Asian region. There is undoubtedly a substantial liberalization underway in South Asia, even though it may not be at the pace at which some stakeholders’ desire. The key is to aim for sustainable and inclusive socioeconomic growth in the region without compromising national interests in any international negotiations.
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