The World Bank’s Country Director for India, Dr Auguste Tano Kouamé, on Wednesday said that for the 8% growth rate for India, there is a need for increase in the private investment apart from the public investment, which is anyhow at a decent level.
“The signs are quite good for the future growth of India. Amid the challenging global environment, if India can grow at 6.5 to 7%, then I wonder what would be country’s growth rate when the global situation will pick up,” World Bank India chief said.
Echoing with the CEA, who earlier in the day in his speech bet on the high possibility of India’s 8% growth rate in the Financial Year 2024, the Auguste Tano Kouamé said if policies are put in place correctly, then the 8% growth for India is not far.
He further said that India can grow at 8% very easily if the world economy and global situations are more conducive.
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‘Least developed countries are potential market for India’
The World Bank India chief in his speech also showed concerns for the least-developed countries.
He said that there has been a consistent downgrade in the growth forecast for these countries from the IMF.
“India is globalising and connecting to the world, and I believe that the least developed countries are the potential market for India going forward,” he said.
Further, he said that at the moment, the World Bank’s growth projection for India is around 6.5%.
For India to attain the visionary growth trajectory, the World Bank country director said unlocking the potential of existing assets such as human capital, specially, the female workforce would be the key.
The World Bank India chief was speaking at an event organised by NCAER in New Delhi.
