IMF backs India's updated GDP methodology, calls revision 'welcome development'
The IMF has endorsed India's updated GDP calculation methodology, describing it as consistent with international best practices. Officials noted that while there is always room for improvement, the Ministry of Statistics and Programme Implementation has performed well in refining economic data.
Why it matters
International validation of GDP methodology is crucial for maintaining investor confidence and ensuring the credibility of India's economic growth reporting.
The International Monetary Fund on Thursday (October 15, 2026) said India's updated GDP calculation methodology aligns with best practices and is entirely consistent with IMF's advice.
Calling India's GDP base revision a "welcome development," Krishna Srinivasan, Director of the IMF's Asia and Pacific Department, told reporters in Bangkok that the updated methodology completely matches the advice provided by the IMF's statistics department.
"These revisions to the methodology are entirely consistent with what the advice we've been giving them, including from our statistics department," Mr. Srinivasan said.
He said India had also issued a note to explain the revisions to the GDP methodology.
"In terms of GDP numbers, what they have done is consistent with good practices. I would say there's always room for improvement, but let's recognise the good work done by MoSPI (Ministry of Statistics and Programme Implementation) for improving GDP statistics," he said.
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