Ken Kang, the Director of Asia and Pacific Department, at the International Monetary Fund (IMF), said that during recent years, India has made a very impressive progress in reforms.

He added that the country should focus on increasing the formal woman labor participation at workforce as the agrarian continues improvements in the product and market reforms.

"The recent implementation of the Goods and Services Tax (GST) is a major reform of the India tax system. It will enhance the efficiency of intra Indian movements of goods and services, help create a common national market, as well as help boost jobs and growth," he answered for a question relating to India's role in the development and growth of the Indo-Pacific region.

He added that the "in recent years India has made very impressive progress in reforms," he said that "looking ahead there are important policy priorities" and listed three among them.

"One is to continue improvements in product and labor market reforms with a focus on increasing formal female labor participation to improve the business environment, and reduce complex regulations, but also to address supply bottlenecks, particularly in the agricultural sector and distribution networks," Kang said at a news conference in Washington.

"We expect and hope that the reform momentum continues. Looking ahead there are important policy priorities."

"There is need to continue improvements in product and labor market reforms with a focus on increasing formal female labor participation, to improve the business environment, and reduce complex regulations, but also to address supply bottlenecks, particularly in the agricultural sector and distribution networks," Kang added.