Ajay Banga: India Surpasses US & China in Growth Race
Ajay Banga praises India’s standout 7.5% economic surge
World Bank President Ajay Banga has spotlighted India’s exceptional economic performance, revealing that the country achieved a 7.5% growth rate—outpacing both the United States and China. Speaking exclusively to NDTV, Banga described India’s momentum as a clear leader among major economies, fueled by consistent structural reforms and heavy infrastructure spending that continue to deliver strong results.
Banga credited recent logistics improvements for playing a vital role in boosting efficiency, even though costs still hover in double digits as a share of GDP. He stressed the urgent need to bring these down to high single digits to make India truly competitive on the global stage. He also highlighted the country’s massive demographic advantage, urging stronger investments in education and healthcare to convert its youthful population into a highly skilled, productive workforce driving long-term prosperity.
Among landmark reforms, Banga personally celebrated the Goods and Services Tax (GST), calling it a game-changer and giving significant credit to former Finance Minister Arun Jaitley along with bipartisan political support that made its passage possible. Looking forward, he advocated for bolder steps in land and labor market reforms, along with slashing bureaucratic red tape—such as reducing the number of permits needed for businesses—to unlock faster growth and attract more investment.
Also Read: US Treasury Signals Possible Removal of 25% Tariff on India as Russian Oil Imports Drop
Banga remained optimistic about India’s future trajectory, suggesting that steady, incremental policy moves—like embracing greater digitization and signing investor protection treaties—would build an even stronger foundation. He compared these consistent efforts to smart cricket batting: scoring steadily through singles and twos to set up game-changing boundaries later.
With reforms gathering pace and human capital development in focus, India appears poised to maintain its edge as one of the world’s fastest-growing major economies under Ajay Banga’s watchful global lens.
Also Read: 17-Year-Old Kashmiri Shawl Seller Beaten With Iron Rods in Uttarakhand
