The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This paper presents background information to the assessment of competitiveness and exchange rate policy in India, as well as challenges to monetary policy from financial globalization. This paper discusses the role of communication in enhancing the effectiveness of monetary policy and strengthening the financial system in India. Currency derivatives can provide important benefits for financial systems. This paper aims to document the extent to which Indian growth has benefited the bottom of the income distribution and how India can achieve significantly better social outcomes.