Milan (Italy), May 4 -- Developing countries like India can close the gap with advanced economies by continuing reforms, boosting domestic demand, enhancing competitiveness and improving human capital, Asian Development Bank (ADB) president Masato Kanda said on Sunday.

Speaking to reporters at the beginning of ADB's annual board of governors meeting in Milan, Kanda said that while private sector growth will add jobs and facilitate innovation, governments have to continue reforms and boost domestic demand by reducing income inequality while opening up their economies.

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"Of course, they need to step up their competitiveness. Private sector growth is...