The World Bank Group and the Government of India have announced a new partnership to support India’s long-term growth goals. The agreement, called the Country Partnership Framework (CPF), is aligned with India’s vision of Viksit Bharat, which aims to make India a developed nation by 2047.
The new partnership puts job creation and private investment at the centre of India’s next phase of development. With nearly 12 million young people joining the workforce every year, creating quality jobs has become a national priority.
India’s Finance Minister Nirmala Sitharaman welcomed the partnership and said it supports India’s development vision. She highlighted the importance of combining public funds with private capital, creating jobs in both rural and urban areas, and using the World Bank Group’s global knowledge to deliver results at scale.
The partnership focuses strongly on private sector–led growth. The World Bank Group’s global jobs strategy is built on three key areas: investing in infrastructure and people, improving business rules and regulations, and reducing risks so private investors can scale their operations. In India, this strategy will focus on sectors that create large numbers of local jobs, such as infrastructure and energy, agriculture and agribusiness, health care, tourism, and manufacturing.
Under the new framework, the World Bank Group plans to provide $8 to $10 billion every year for the next five years. This funding will use a mix of loans, investments, guarantees, and technical expertise to support job creation and attract private investment.
World Bank Group President Ajay Banga said India is a major driver of global growth and that this partnership aims to help turn economic growth into real opportunities for millions of people. He stressed that job creation is at the core of the collaboration.
The partnership is the result of a year-long effort by India and the World Bank Group to work more selectively and with greater impact. Special focus will be given to youth and women by improving skills, reducing barriers for small and medium businesses, and expanding access to opportunities.
The framework focuses on four main outcomes: boosting rural incomes beyond farming, supporting better planned and more livable cities, investing in health, education, and skills, and strengthening energy security and infrastructure, including renewable energy and electric mobility.
Implementation has already begun through ongoing projects. These include upgrading Industrial Training Institutes to make young people job-ready, improving climate-resilient agriculture in Maharashtra, strengthening digital health systems in Kerala, expanding education loans for students, and supporting India’s transition to electric vehicles.
India is currently the World Bank Group’s largest client. This new partnership will further increase the role of private investment, while using global expertise and public funding to deliver faster and more sustainable development results.
