V.  Financial integration in Asia - some issues  In an era of increasing globalisation, discussion on monetary policy and exchange rate frameworks cannot be done in isolation. It is, therefore, pertinent to place the Indian experience in the context of Asian economic co-operation.
Recent years have witnessed an expansion of the channels of integration within the Asian region, built primarily on strong macroeconomic performance. Asia accounts for more than 30 per cent of world GDP and contributes half of global growth.