London: India, the fourth largest economy in the world, is integrating very fast with the global economy, Indian High Commissioner to the UK Ronen Sen has said.

"India is literally a country on the move. Amid rapid changes, the country is integrating very fast with the global economy," Sen said while addressing the annual Dinner of the Institute of Chartered Accountants of India, UK Chapter in London.

After the worst drought over a period of 100 years last year, India was recognised as the largest exporter of food grains.

"A few years back we had problem in keeping international commitment but we have scrupulously honoured every international commitments."

"Now we are already the 4th largest economy in the world in terms of purchasing power parity."

Stating that India has stopped accepting development assistance from most countries, he said, on the other hand the country was emerging as a donor despite large problem of underdevelopment faced by it. The country, he said, has emerged as a creditor to the International Monetary Fund (IMF).

PTI