The World Bank has expressed strong confidence in the Indian economy and appealed to all to come forward to invest in the country.
World Bank country director Auguste Tano Kouame, while speaking at the Advantage Assam 2.0 Business Summit, said the lender remains optimistic about India’s economic prospects, despite a slight downward trend in growth.
“We are not worried about India’s growth at the moment. We are very bullish about India and will remain bullish,” he added.
He emphasised that fluctuations of one percentage point in economic growth do not alter the World Bank’s positive outlook. “If somebody is worried about recent data, we would like to say that don’t worry. India is the shining light in the world. If you are looking to invest, then come and invest here. The Indian growth makes it the place to invest,” he added.
Earlier, while talking to PTI, Auguste Tano Kouame said the World Bank’s financing to India in the short to medium term is expected to rise with a focus on supporting the country’s development goals.
“India as a country is our largest client globally. We would like India to be our largest client…as India becomes an upper middle-income country and developed country, India would require lesser (sovereign) financing from us,” he said
With development, he said, India would require the World Bank’s knowledge input more than financing.
It is to be noted that the Reserve Bank of India (RBI) has recently projected the economic growth at 7.2% in December 2024, compared to 8.2% in 2023-24.
ICRA has also projected India’s GDP growth at 6.4% in the December quarter on account of enhanced government spending amid uneven consumption.
The rating agency projected the economy to grow at 6.4% in Q3 from 5.4% in Q2, benefitting from enhanced government spending amid uneven consumption.
India’s investment activity improved in Q3, as reflected in the uptick in the YoY growth in several investment-related indicators vis-a-vis Q2, it had said.