PM Modi Highlights Ajay Banga’s Remarks On Jobs, India Model

On Friday, the Office of the Prime Minister of India highlighted an IANS report in which World Bank President Ajay Banga underscored job creation as central to development strategy and pointed to India’s cooperative model as a scalable growth example.

The post drew attention to the importance of employment-driven growth and noted increasing global recognition of India’s development framework.

Speaking ahead of the World Bank and IMF Spring Meetings in Washington, Ajay Banga said that development should focus on long-term outcomes rather than isolated projects.

“Development isn’t a charity. It’s a strategy,” he stated, underlining that job creation is key to maintaining economic stability and growth.

Ajay Banga also pointed to a significant global workforce challenge, noting that around 1.2 billion young people are expected to enter the labour market over the next 15 years, while job creation may lag behind this surge.

To address this gap, he outlined three priority areas: increased investment in infrastructure, reforms to make business environments more supportive, and better access to finance.

The World Bank President identified sectors such as infrastructure, agriculture, healthcare, manufacturing and tourism as crucial for generating employment opportunities.

Referring to India, Ajay Banga highlighted the country’s dairy cooperative model as an example of scalable growth.

Drawing from his own background, he said, “I grew up in India,” and noted that such cooperative systems help small producers gain better market access and pricing through organisation and technology.

Ajay Banga also cautioned that insufficient job creation could lead to wider global challenges, including increased migration and social instability.

“Imagine the impact if 800 million people are not able to get hope and dignity,” he noted.

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