Investments In People, Businesses To Drive India's Long-Term Growth: World Bank

New Delhi, Jun 10 (KNN) India is expected to maintain strong economic growth momentum in the coming years despite global uncertainties, supported by investments in people, businesses and expanding international partnerships, according to a senior World Bank official.
 
Strong Economic Fundamentals Support Growth Outlook
 
Speaking on the sidelines of the SAPLING High-Level Policy Dialogue co-hosted by the World Bank Group and the Union Ministry of Food Processing Industries, Paul Procee, Operations Manager and Acting Country Director for India, World Bank said India continues to benefit from a strong economic foundation and a large domestic market.
 
He noted that the country's focus on strengthening businesses, investing in human capital and expanding trade partnerships is expected to support sustained growth, reported ANI.
 
Investment-Friendly Environment Key To Expansion
 
Procee highlighted India's attractiveness as an investment destination, stating that creating a conducive business environment and encouraging both domestic and foreign investment remain key to long-term economic expansion.
 
He said India's large consumer base and growing network of bilateral trade agreements provide significant opportunities for businesses and investors.
 
Food Processing Emerges As High-Potential Growth Sector
 
Commenting on the food processing sector, Procee described it as one of India's most promising growth areas and a major contributor to manufacturing and exports.
 
He said efforts to strengthen value chains and improve market linkages for farmers could unlock substantial opportunities across the sector.
 
Sector Can Boost Rural Development And Employment
 
According to him, the food processing industry has significant potential to drive rural economic development, generate employment and create new income opportunities, particularly as a large share of India's population continues to reside in rural areas.
 
Procee added that enhancing the sector's competitiveness could play an important role in supporting inclusive growth while strengthening India's position in global agricultural and food product markets.
 
(KNN Bureau)