October 18, 2024: In a striking endorsement of India’s economic performance, World Bank President Ajay Banga declared that the country’s growth rate stands out as “the shiniest part” of the global economy. Speaking to reporters ahead of the upcoming annual meeting of the World Bank and the International Monetary Fund, Banga highlighted India’s impressive growth trajectory, which is driven significantly by its robust domestic market.

Banga noted, “There is no doubt that India’s growth rate is among the shiniest parts in the world economy. Growing at six to seven percent and more in the current environment demonstrates the effective measures the country has implemented.” This growth reflects not only economic resilience but also strategic initiatives that have strengthened India’s internal markets.

However, Banga emphasized that while growth is commendable, India must focus on improving quality of life indicators such as air and water quality. “These are critical areas that Prime Minister Modi has highlighted, and addressing them is essential for sustainable development,” he added.

The World Bank is actively collaborating with India to tackle these challenges, and Banga expressed optimism about seeing tangible results in upcoming projects. World Bank Managing Director for Operations, Anna Bjerde, reinforced this sentiment, stating that the organization is committed to helping the Indian government convert its impressive growth into job creation and sustainable development.