|
|
by IANS |
New Delhi, April 10 (IANS) The Office of the Prime Minister of India on Friday highlighted an IANS report on World Bank President Ajay Banga backing job creation as the core of development strategy and citing India’s cooperative model as an example of scalable growth.
The story shared by PMO India on the social media platform X underscores the importance of employment-led growth and the global recognition of India’s development approach.
Banga emphasised that development efforts must move beyond individual projects and instead focus on broader outcomes such as job creation and economic opportunity.
"Development isn’t a charity. It’s a strategy," he said, adding that employment generation is central to sustaining growth and stability.
Speaking ahead of the World Bank and IMF Spring Meetings in Washington, Banga also flagged a looming demographic challenge, noting that around 1.2 billion young people are expected to enter the workforce over the next 15 years, while job creation may not keep pace.
He outlined a three-pronged approach to boosting employment, including investment in infrastructure, business-friendly governance reforms and improved access to finance.
He also identified key sectors such as infrastructure, agriculture, healthcare, manufacturing and tourism as major drivers of job creation.
Drawing from his own experience, Banga pointed to India’s dairy cooperative model as a successful example of how technology and organisation can help improve rural livelihoods and expand market access for small producers.
"I grew up in India," he said. The WB chief said that cooperative structures, like those in the dairy sector, helped small producers access better markets and pricing.
He also warned that failure to generate adequate employment opportunities could lead to rising migration pressures and social instability globally.
"Imagine the impact… if 800 million people… are not able to get hope and dignity," he said, linking job shortages to broader global challenges.
--IANS
Latest News