10 hrs ago

India Can Grow Beyond 8% With Jobs and Investment

Ajay Banga says India’s economy is growing strongly.

He believes India could grow by more than 8% in the future.

Services, exports and investment are helping the economy.

Banga says economic growth should create more jobs for young people.

He says roads, bridges, airports, electricity, water and digital services are important.

Better education, skills training and healthcare are also needed.

Government rules must be put into practice by India’s states.

Private companies, especially small businesses, will create many of the new jobs.

Key facts

Current growth trajectory: India is delivering approximately 7–8% growth, with the article citing 7.8%.
Growth drivers: Services, exports and sustained investment were identified as strengths.
Employment focus: Banga said growth should create opportunities for young people.
Employment pillars: Physical and human infrastructure, regulatory reform and private capital mobilisation.
Potential job sectors: Infrastructure, agriculture, primary healthcare, tourism and value-added manufacturing.
MSME financing: The World Bank provided almost $3 billion or more in trade financing to India’s MSME sector during a recent crisis.
Regulatory reform: Banga cited central government labour-law changes, whose effects depend on implementation by individual states.

thehansindia.com · 11 hrs ago