India’s growth rate among shiniest in global economy: World Bank Chief Ajay Banga

World Bank Chief highlights India’s stellar growth rate

On Thursday, World Bank President Ajay Banga highlighted that India’s growth rate stands out as the brightest aspect of the global economy, emphasizing that much of this growth is fueled by the domestic market.

“There is no doubt that India’s growth rate is among the shiniest parts of the world economy. I think being able to grow at six, seven percent and more in this kind of environment shows you that they’ve done a number of things to get there,” Banga told reporters ahead of next week’s annual meeting of the World Bank and the International Monetary Fund.

“A lot of that growth is in India, is driven by the domestic market as well, which actually is a healthy sign, in some ways. What India needs to work on as the prime minister laid out is things on quality of life, like air and the quality of water and the like,” he said.

“We are actively engaged with them on a number of topics to do with these, and I think we will see more results of those coming out in the coming months in terms of projects,” Banga said in response to a question.

World Bank Managing Director for Operations Anna Bjerde stated that the bank is assisting the Indian government in transforming growth into jobs and sustainable development. She emphasized the importance of increasing female workforce participation, noting India’s significant potential in this area.

Additionally, the World Bank is collaborating with India on urban development to enhance city livability, focusing on issues like air quality, water supply, and urban planning.

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