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World Bank Chief Lauds India's Growth, Infrastructure Push for Viksit Bharat Goal

World Bank President Ajay Banga, visiting Bhubaneswar, expressed admiration for India's significant infrastructure development over the past decade. He emphasized that skilling the nation's large youth population is critical to achieving the goal of a developed India (Viksit Bharat) by 2047. Banga highlighted the need for continued reforms in land and labour laws to sustain growth and improve the ease of doing business. He also pointed to the importance of human capital, healthcare, and education alongside physical infrastructure.

Key Points: World Bank's Ajay Banga Praises India's Infrastructure & Growth

  • Infrastructure investment praised
  • Skilling youth is crucial
  • Reforms in land, labour laws needed
  • Goal is Viksit Bharat by 2047
2 min read

India has demonstrated that it can show exceptional growth: Ajay Banga

World Bank President Ajay Banga admires India's infrastructure investment and stresses skilling for Viksit Bharat 2047 goal during Bhubaneswar visit.

"India has demonstrated that it can show exceptional growth. - Ajay Banga"

Bhubaneswar, January 29

The level of infrastructure investment that has happened in India in the last 10 years is quite admirable, World Bank President Ajay Banga said on Thursday, noting that the country has demonstrated it can show exceptional growth.

Ajay Banga, who visited the Central Tool Room and Training Centre (CTTC) in Bhubaneswar, said skilling population in India will be important to reach the goal of Viksit Bharat.

"India has demonstrated that it can show exceptional growth. The real thing is not the percentage of growth. The real thing you need to think about is if you want to be Viksit Bharat by 2047, then this kind of facility, skilling effort, devotion of people who run facilities like this is very important. Skilling our population in India is going to be very important," he told reporters.

"You have 12 million young people becoming ready for a job every year. If you skill them the right way, then you can get them the opportunity to work in a state, in a city, in a village, in another town and in countries overseas," he added.

He was responding to a query about the Economic Survey's forecast that India's real GDP growth in FY27 would be between 6.8 and 7.2 per cent. "Absolutely," Banga said.

Answering another query, Banga said apart from physical infrastructure there is need for human capital, skilling, health care, education and right business-friendly policies.

"The amount of infrastructure investment that has happened in India in the last 10 years is actually quite admirable. Today, you land in Bhubaneshwar, and you see a modern airport. 280 airports, tens of thousands of kilometres of roads every year. The reality is that infrastructure is being built," he said.

He called for reforms concerning land and labour laws for sustained growth and said Modi government is working in that direction.

"There are three things that have to happen. One is that you must have infrastructure, not just physical, but also human capital, skilling, health care, and education. Second, you must have the right business-friendly policies. In India, there has been some progress. But as you know, the Prime Minister is driving new changes in the land and labour law, which are very important for continuing growth and ease of doing business in India," he added.

Ajay Banga began his five-year term as World Bank President on June 2, 2023.

- ANI

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Reader Comments

R
Rohit P
Good to hear this from the World Bank chief. But skilling 12 million youth every year is a mammoth task. We need more quality CTTC-like institutes in every district, not just praise. Hope the execution matches the vision.
A
Aman W
Infrastructure is one thing, but what about job creation? Building roads is great, but we need factories and companies where these skilled people can work. The growth numbers need to translate into real employment opportunities for the common man.
S
Sarah B
As someone who travels to India for work often, the change in airports and urban infrastructure over the last decade is remarkable. It definitely makes doing business smoother. The focus on human capital is the right next step.
K
Karthik V
Viksit Bharat 2047 is an ambitious goal. Land and labour reforms are crucial, but they must be done carefully to protect farmers and workers' rights. Growth should be inclusive and sustainable. Let's not rush it.
N
Nisha Z
True! The new airports and roads are impressive. But in my village, we still struggle with basic healthcare and education. Hope the development reaches the grassroots level soon. Skilling is useless if there are no local jobs.

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