Business EconomyPosted at: May 9 2025 6:08PM


India's growth incomplete without UP: World Bank

Lucknow, May 9 (UNI) In a strong endorsement of Uttar Pradesh's economic and governance transformation, World Bank Group President Ajay Banga on Friday declared that India's dream of becoming a developed country cannot be realised without Uttar Pradesh playing a central role.
"UP is too big and too important. India cannot become a developed country without Uttar Pradesh being an integral part of that journey," Banga said while addressing a meeting with Uttar Pradesh Chief Minister Yogi Adityanath here, marking his first official visit to the state since taking over the World Bank's top post.
Referring to the state as his "sasural" (in-laws’ home), his wife hails from Uttar Pradesh, Banga said the visit felt like coming home in more ways than one.
The World Bank President commended the leadership of Yogi Adityanath, saying his government had "transformed not only the perception of the state, but also the ground reality," by focusing on law and order, infrastructure, ease of doing business, and public service delivery.
"What you have done, and what the Chief Minister has led, is remarkable," Banga said. "It takes determination, discipline, energy, and relentless follow-up to deliver on the things that matter to people. And you have done it."
Banga underscored job creation as the most urgent challenge and opportunity for India and its states, calling it the most effective tool to eradicate poverty, not just economic deprivation but a poverty of hope and aspiration.
"A job is the best way to destroy the illness of poverty,” he said. "Not just the poverty of money, but the poverty of mind, when there is no hope, no optimism, and no sense of a better future. By creating jobs, you are restoring dignity.”
Ajay Banga outlined five key sectors where Uttar Pradesh can create jobs. The first is infrastructure, focusing on building roads, airports, and railways. The second is agriculture as a business, supporting smallholder farmers and keeping them in rural areas. The third is healthcare, with programmes to improve nutrition and access to care. The fourth is tourism, which has a lot of potential due to the state’s culture, history, food and religion. The fifth is manufacturing and MSMEs, which are important for creating sustainable jobs.
One of Banga’s most appreciated points was the state’s efforts not only on ease of doing business but also on what he called the "speed of doing business." "You (Yogi Adityanath) are not just cutting red tape—you are signalling to investors that UP wants their capital and energy. That matters. Because once infrastructure is in place, once policy is clear, the private sector will drive job growth."
Banga noted that while technological advances like Artificial Intelligence offer opportunities, they are secondary to the core force behind any lasting transformation: leadership. "AI is one tool. We’re all celebrating it. But the real tool is leadership. And that’s what your state has shown. Vision, clarity, execution—that’s what moves the needle.”
He concluded by assuring the Uttar Pradesh government of the World Bank’s continued support in its development journey. "Count on us. We are your partners," he said.
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