Ajay Banga, the president of the World Bank, will make his first trip to India since taking office in June. As the first person of color to serve as president of the World Bank or the International Monetary Fund, Banga is an Indian-American. He’ll be present in Ahmedabad for the G20 meeting of central bank governors and finance ministers.
Ajay Banga, the president of the World Bank, is optimistic about India and claims that he is currently more positive than he has been “in a long time” about the country’s chances for economic growth.
On July 17, Banga stated that he is a “big fan” of India’s digital payments infrastructure while speaking on the sidelines of the third meeting of the G20 Finance Ministers and Central Bank Governors in Gandhinagar.
According to Banga, who spoke to reporters, “I am more optimistic about India today than I have been for a long time.” With a higher-than-anticipated GDP growth report of 6.1 percent for January–March, the Indian economy has the fastest-growing large economy in the world, with a 2022–23 number of 7.2 percent. Due to improved global economic prospects, some experts predict that growth will decline drastically to under 6 percent in 2023–2024; however, the Indian government and Reserve Bank of India (RBI) remain upbeat and anticipate that the economy is going to expand by 6.5 percent this year.
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