India should help coordinate global efforts for sustainable growth: Strauss Kahn

A deepening of international engagement will help create a framework that can deliver strong, balanced and sustainable global growth. And India, with its economic dynamism and strong democratic tradition, should play a leading role in these efforts, IMF managing director Dominic Strauss Kahn has said.

"The world looks to Asia to play its rightful role in global efforts, because with rising economic power comes rising responsibility to help resolve global economic challenges," he said at a function organised by the Federation of Indian Chambers of Commerce and Industry.

Sustaining global economic growth in advanced economies is imperative and the downside risks of decoupling growth from major economies would be too great, not just for these economies, but for the world as a whole, Strauss Kahn said.

This, however, should not be at the cost of resolving the larger issues of fiscal consolidation and putting public finances on a sustainable footing, he said.

In fact, he said, financial sector repair and reform needs to move faster, so that financial institutions can support the recovery.

Nations should continue to deepen the unprecedented cooperation they showed during the financial crisis in order to put the recovery on a sustainable path, Strauss Kahn said, adding this world place global economic governance in a stronger framework.