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‘India’s growth helping global economy’

business Updated: Jan 09, 2011 22:24 IST
HT Correspondent
HT Correspondent
Hindustan Times
Pranab Mukherjee

World Bank Group President Robert B Zoellick will arrive in India on Monday on a four-day visit aimed at strengthening co-operation with the country as it seeks to accelerate growth to provide better infrastructure and efficient social services for its people.

“India’s return to high levels of growth is helping the global economy recover from the crisis,” said Zoellick.

During his visit this week, Zoellick will meet government leaders, including the Prime Minister Manmohan Singh, finance minister Pranab Mukherjee and the deputy chairman of the planning commission, Montek Singh Ahluwalia, to explain how the World Bank can be useful to India in meeting its development priorities.

The discussions with the Prime Minister will also cover cooperation on global issues, including preparations for the upcoming G20 meetings.

“India is a player on the global stage. The country’s status as a rising economic power is closely connected with how it manages this next phase of growth, balancing rapid development with the environment and most importantly, the need to ensure all people have opportunity,” Zoellick said.

The World Bank Group boosted its support to India last year to help offset the impact of the global financial crisis. The Bank made a record $11.1 billion (about Rs 50,000 crore) in commitments to India last financial year, ending June 2010.