India "Really Stands Out" in terms of vaccine policy: IMF's Gita Gopinath

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. Ms Gopinath made the comments in an interactive session during the Inaugural Dr. Hansa Mehta Lecture organised on occasion of International Women's Day. "If you look at where exactly is one manufacturing hub for vaccines in the world - that will be India," Ms Gopinath said.

Ms 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. India has been playing a very important role in helping the world in the global health crisis through its vaccination policies, she said.

Noting that India was "hit very hard" by this pandemic, Ms 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.