They said that the current YSR Congress regime has nothing to do with the rankings.
Over 300 influential and powerful people from India and the US are joining the summit which aims to focus on the immense potential that the US-India relationship.
Georgieva said that it is critically important to continue with addressing the long-term drivers of growth.
On a cumulative basis, the premium collection of all non-life insurers during April-September this fiscal rose by 17 per cent to Rs 95,979 crore.
IMF’s sharp reduction of 1.2 per cent is in line with forecasts of other agencies, including the World Bank, Moody’s and the RBI, whose revised growth figures range between 5.8 and 6.3 per cent.
While the World Economic Outlook has forecasted an economic deceleration in US and China, there are signs of a broad slowdown, shaky outlook and uncertain recovery.
However, the IMF's World Economic Outlook (WEO) released on Tuesday projected India's economy to pick up and grow by 7 per cent in the 2020 fiscal year.
He also said, 'We had a pretty good run for almost four to five year before the last two quarters. It (the slowdown) is rightsizing of certain sectors or opportunities in different areas.'
GDP growth cooled for a fifth straight quarter to 5 per cent in the three months ended June, at the slowest pace since March 2013.
In this respect, India slipping 10 notches to 68th position from 58th last year, among 141 countries surveyed by the Global Competitiveness Index (GCI) is a matter of concern.
According to Infosys, the company was able to clinch some major deals during the second quarter and the number of clients rose to 1,364 by the end of Q2, from 1,336 clients in Q1.
In the year-ago fortnight, the advances had stood at Rs 89.82 lakh crore. In the previous fortnight ending September 13, bank credit had grown 10.26 per cent to Rs 97.01 lakh crore.
Consumer spending during these months increases significantly across various products and services and businesses need additional manpower.
The IMF chief warned that the World Economic Outlook for 2019 and 2020 reflects a complex situation compared to the previous figures presented in July in Chile.
The comments were made at an interaction before the RBI sharply revised down its GDP growth target to 6.1 per cent on Friday.