World Bank President Ajay Banga's recent visit to India has sparked discussions on several key issues, including infrastructure development, economic transformation, and the Indus Waters Treaty. Banga's visit included meetings with Prime Minister Narendra Modi and Uttar Pradesh Chief Minister Yogi Adityanath, highlighting the World Bank's interest in India's growth story, particularly the transformation of Uttar Pradesh.
During his meeting with PM Modi in New Delhi, discussions revolved around infrastructure and agriculture. Banga's visit occurred amidst heightened tensions between India and Pakistan, following India's suspension of the Indus Waters Treaty after a terror attack in Jammu and Kashmir. Banga clarified that the World Bank's role in the treaty was limited to that of a facilitator and that it would not intervene in the dispute. He emphasized that the World Bank can only facilitate dispute resolution through neutral experts or arbitrators, as per the treaty's provisions. The World Bank had brokered the Indus Waters Treaty in 1960 after nine years of negotiations between India and Pakistan.
A significant part of Banga's visit focused on Uttar Pradesh, where he lauded the state's "remarkable transformation" under Chief Minister Yogi Adityanath's leadership. The UP government aims to become a USD 1 trillion economy, and Banga's visit was seen as a reflection of the increasing global interest in the state's rapid development. During his visit to Lucknow, Banga participated in meetings and programs, including a roundtable discussion with stakeholders. He also visited a Take-Home Ration (THR) plant in Chinhat Block and a beekeeping center in Rajouli, Barabanki, interacting with women self-help groups.
Banga commended Uttar Pradesh's progress across various sectors, including infrastructure, agriculture, healthcare, and tourism. He specifically praised the improvements in infrastructure, law and order, and connectivity, which he said have made UP an attractive destination for investment. Banga emphasized the importance of agriculture to UP's rural economy, calling small farmers "the true wealth of UP" and advocating for the promotion of modern agricultural technologies. He also recognized the state's potential in religious, cultural, and eco-tourism.
Banga highlighted the importance of job creation in Uttar Pradesh, outlining key sectors where the state can generate employment opportunities, including infrastructure, agriculture, healthcare, tourism, and manufacturing. He described job creation as the most effective tool to eradicate poverty and restore hope.
Banga stated that India's dream of becoming a developed country cannot be realized without Uttar Pradesh playing a central role. He noted that his visit felt like coming home, as his wife hails from Uttar Pradesh. He praised Adityanath's government for transforming the perception and the reality of the state by focusing on law and order, infrastructure, ease of doing business, and public service delivery.