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Critics and human rights groups have condemned Lee's iron-fisted rule of his country where political opponents were exiled.
GDP will be the basic parameter in determining share allocation among member countries in the Bank.
India imports about 80 per cent of its daily crude oil requirements.
Corruption has jeopardized economic growth and led to a growing divide between the rich and the poor of the countries.
The trade report was presented in Parliament House in Canberra on Wednesday.
Li met IMF Managing Director Christine Lagarde in Beijing on Monday.
With a combined population of 2.5 billion, China and India are increasingly playing an influential role in the global economy.
China has praised Lee as "an Asian statesman of unique influence".
Chinese telecom giant Huawei Technologies became the world's No. 1 applicant for international patents in 2014.
HSBC warns against a slackening in the reform process and the inability of the government to “crowd in” the private sector.
