India can grow beyond 8%, says World Bank’s Ajay Banga

India has the potential to grow beyond its current 7-8 per cent trajectory, World Bank President Ajay Banga said, describing the country’s economic performance as robust despite global energy pressures and trade uncertainty.
Speaking on the sidelines of the G20 Finance Ministers’ meeting in Asheville, Banga said India’s economy was showing strong momentum, supported by healthy growth in services, exports and sustained investment.“India is now delivering regularly seven to 8 per cent growth, and I think there’s opportunity to go even beyond that,” he said.

North Carolina, US: President of the World Bank Group Ajay Banga says, "... If you look at the atmosphere of the economic situation in which this number has come, and think about the Iran war and the implications of pricing on energy and fertilizers, think about the whole… pic.twitter.com/oWg9K9W4d3

— IANS (@ians_india) September 2, 2026

Banga emphasised that the next phase of growth should focus on creating employment and fulfilling the aspirations of India’s young population through stronger private sector investment.He identified physical and human infrastructure, regulatory reforms and mobilisation of private capital as the three key pillars for generating jobs. He added that while India has made significant progress in infrastructure and digitisation, further efforts are needed in education, skilling and healthcare to align future talent with industry requirements.
Highlighting the importance of MSMEs, tourism, agriculture and value-added manufacturing, Banga said private enterprises would remain the primary engine of job creation, with the government playing an enabling role.He also noted that India is increasingly emerging as a global development partner through its digital public infrastructure and agricultural innovations, while its journey towards the 2047 vision would depend on both sustained domestic growth and a stronger role in the global economy.

(Business Correspondent)