Can India Ever Create Enough Jobs?|Neelkanth Mishra|World Bank| Exclusive

Neelkanth Mishra, Executive Director at the World Bank, examines India’s economic trajectory amidst shifting global capital dynamics. While elevated global interest rates and currency volatility pose challenges, India’s growth remains resilient, supported by robust domestic investment in sectors like steel and infrastructure. Addressing the employment challenge requires a multi-pronged approach, including leveraging AI for skill democratization and expanding labor-intensive sectors like tourism. The World Bank is transitioning from a traditional lender to a strategic partner, focusing on solving market failures in urbanization and civic services. Furthermore, the evolution of digital public infrastructure, specifically Aadhaar, aims to enhance state capacity through seamless, secure authentication and broader integration into daily services. Sustained long-term growth necessitates a relentless focus on regulatory easing, energy security, and maintaining fiscal discipline to navigate the inevitable fluctuations in global financial markets.