Washington DC:India has halved its poverty rate since the 1990s and achieved a seven plus growth rate over the last 15 years, the World Bank said on Tuesday. India is both critical to the success of global development efforts, including eliminating extreme poverty, and as an influential leader for global goods such as addressing climate change, the bank said ahead of the annual meeting between it and the International Monetary Fund.

The country has achieved annual growth exceeding seven per cent over the last 15 years, halved its poverty rate since the 1990s, and enjoyed strong improvements in most human development outcomes, the World Bank said.