India supported France's Christine Lagarde as the next leader of the International Monetary Fund because it wanted to be part of the consensus that was building around her, Indian Finance Minster Pranab Mukherjee said on Tuesday.

Mukherjee told Reuters Insider in an interview that he thought the IMF's selection mechanism should have been more transparent, but he believed that Lagarde, France's finance minister, had merit as a candidate.

We knew both of them, but we wanted to be part of the consensus, and the consensus emerged appearing around Christine Lagarde. So naturally we became a part of it, Mukherjee said.

Lagarde was chosen on Tuesday over Mexican central bank governor Agustin Carstens.

(Reporting by David Lawder; Editing by Dan Grebler)

India International Monetary Fund