International Monetary Fund, IMF, has said India is embarking on significant reforms and will grow at more than 7 per cent. Speaking at an event in United States, IMF Managing Director Christine Lagarde said, China is rightly re-balancing its economy, albeit slower growing economic model but it will continue to grow at a robust rate of about 6 per cent. She said, India too will be embarking on significant reforms, at more than 7 per cent. Recently, Asian Development Bank also said India's economy will remain on a strong growth path this fiscal and clock a growth of 7.4 per cent, following implementation of key structural reforms, robust consumer demand and higher agricultural output driven by a good monsoon.India has adopted structural reforms to attract more foreign direct investment and passed a legislation to allow a national tax that will create a more integrated and productive economy. The government intends to implement the Goods and Services Tax from 1st of April next year.