PHD Chamber of Commerce & Industry organized Interactive Session with Economists from International Monetary Fund (IMF): Article IV Consultations on Economy. The meeting included discussions on economic developments, policies and other key issues and concerns related to Indian economy with our esteemed members. The team of Economists from IMF comprised of Mr. Andreas Bauer, Senior Resident Representative, IMF, India, Mr. Geert Almekinders – Deputy Division Chief, IMF, Ms. Sumiko Ogawa, Senior Economist, IMF, Mr. Patrick Blagrave, Economist, IMF and Mr. Rizki Wimada, Economist, IMF. Members of PHD Chamber represented the Chamber and gave their views on the Indian economy which were well received by representatives from IMF. PHD Chamber submitted inputs on India’s exports, GST, rural development, education and health and perception of the Chamber about various economic, trade and industrial developments.
Mr. Sanjay Beswal, Co-Chairman, Foreign Trade and Investment Committee, PHD Chamber highlighted few problems faced by the exporters including that slow in processing GST refunds, infrastructure problems, high cost of financing especially for small exporters. He suggested that there is a need to be committed to open borders, notwithstanding the pressure to raise trade barriers.