NEW DELHI: World Bank president Ajay Banga praised India’s growth rate on Thursday, highlighting its resilience in the global economy. He mentioned 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 in 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 said at a press conference.
Banga mentioned that India’s growth driven by its domestic market is a positive sign.He also emphasised the need for India to improve its quality of life, including air and water quality.
“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,” Banga added.
World Bank Managing Director for Operations Anna Bjerde pointed out that the bank is assisting India in converting growth into job creation and sustainable development. She stressed the importance of increasing female participation in the workforce, citing significant potential for growth.
The World Bank is also working with India on urban development to enhance livability in cities, focusing on air quality, water supply, and urban planning.