World Bank India's growth rate among shiniest in global economy: World Bank president Ajay Banga
Washington/IBNS: India's economic growth stands out as a bright spot in the global economy, according to World Bank President Ajay Banga, who highlighted that much of this progress is fueled by the domestic market.
"There is no doubt that India's growth rate is among the shiniest parts in the world economy. I think being able to grow at six, seven per cent and more in this kind of environment shows you that they've done a number of things to get there," Banga stated during a press briefing ahead of the World Bank and International Monetary Fund's annual meeting next week.
He pointed out that the country's growth is largely driven by its internal market, which he described as a positive indicator.
Banga also emphasized the importance of addressing issues related to quality of life, such as air and water quality, as outlined by the prime minister.
"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 added when asked about ongoing collaborations.
World Bank Managing Director for Operations, Anna Bjerde, noted the institution’s support for India's efforts to translate its economic growth into job creation and sustainable development.
She stressed the importance of increasing women's participation in the workforce, highlighting India's significant potential in this area.
Additionally, Bjerde mentioned that the World Bank is partnering with India on urban development, recognizing the vast potential to improve city living conditions, particularly in areas like air quality, water supply, and urban planning.
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