HomeWorld NewsI’m perfect example of Make in India: World Bank chief Ajay Banga | Exclusive – India Today
I’m perfect example of Make in India: World Bank chief Ajay Banga | Exclusive – India Today
September 10, 2023
“I am the perfect example of Make in India,” World Bank Chief Ajay Banga told India Today on Sunday.
In an exclusive conversation with India Today’s Rahul Kanwal, Ajay Banga said he grew up in India and studied only at Indian institutes. He also said he has not done a single course abroad.
“Grew up in India, studied in Indian institutes, haven’t done a single course abroad,” Banga said.
“Fifty per cent of success in life is luck, the rest is your hard work and the ability to capitalise on opportunity,” he added.
Sharing glimpses from the interview, Rahul Kanwal took to his X handle and wrote, “Reforming Multilateral Development Banks has been one of the key agenda points of India’s G-20 Presidency. And Banga is the man entrusted by President Biden to adapt the World Bank to be able to deal with China’s growing challenge to the old Washington led global financial order.”
During the conversation, the World Bank chief also said he disagrees with the ‘Washington-dominated world’.
“Fifty-five per cent of World Bank employees are outside of the US,” Banga said.
Speaking on his mission to reform the World Bank, Banga told India Today, “In the past three months, I’ve met several leaders and finance ministers from scores of countries, which gave me a clear perspective.”
“The roadmap for the evolution of the World Bank is to get a new vision and mission and to make it inclusive,” Banga said.
Upon being asked about the steps to be taken for the transition, in terms of what still needs to be achieved, Banga stressed the clarity of vision, simplicity of speaking, management and measurement of what you want to achieve, and simple scorecards.
Banga also spoke on geopolitics and China and said, “The challenges of the world are very plentiful and the kind of financial energy required is much more than how much just one institution should want to dominate on,” he said.
“Yes, there is geopolitics and I do not deny it, but China is a shareholder and it does not take much money from us any longer,” the World Bank chief said, adding, “There’s a lot for the World Bank to work on (in climate change and healthcare), which can keep us occupied for the years to come.”
Speaking on Washington arranging more funds for the World Bank, Banga said, “I met US President Joe Biden and he was very clear about the leveragability of the resources of the bank. The US contribution enhances our earning capacity.”
WORLD BANK DOCUMENT ON G20: WHAT PM MODI SAID
On Friday, Prime Minister Narendra Modi cited a G20 report prepared by the World Bank to highlight that India has achieved in just six years financial inclusion targets that would otherwise have taken at least 47 long years.
“India’s leap in financial inclusion, powered by Digital Public Infrastructure! A G20 document prepared by the World Bank shared a very interest point on India’s growth,” PM Modi wrote on X.
“India has achieved financial inclusion targets in just 6 years which would otherwise have taken at least 47 long years. Compliments to our robust digital payment infrastructure and the spirit of our people. It is equally a testament to rapid progress and innovation,” he said.
Home Minister Amit Shah also said the report acknowledges that the robust Jan Dhan, Aadhaar and mobile trinity infrastructure built by the Modi government has empowered millions.