According to the World Bank's latest ‘Migration and Development Brief', India is expected to receive $100 billion in remittances this year -- the first time a single country has reached this number. The report noted that remittances to India, the world's biggest recipient, stood at $89.4 billion last year and...
World Bank Appoints India’s Indermit Gill as Chief Economist
World Bank President David Malpass announced the selection of Indermit Gill as the Chief Economist of the World Bank Group and Senior Vice President for Development Economics. Gill succeeds American economist Carmen Reinhart in the role. His appointment is effective on September 1, 2022. Gill spearheaded the influential 2009 World...
World Bank Expects India to Grow by 8.3%
India’s economy is expected to grow by 8.3 percent this fiscal year, according to the World Bank, making it the second-fastest-growing major economy. The Bank’s Regional Economic Update for Fall 2021, said that after the "deadly second wave" of Covid-19 in India "the pace of vaccination, which is increasing, will...
World Bank President Lauds India's Progress
While addressing a press conference in New Delhi on October 26, World Bank President David Malpass congratulated the government on bringing India’s latest ranking in the World Bank’s annual Ease of Doing Business to 63rd. He credited the government’s moves to liberalize procedures for registering businesses, facilitating more cross-border trade,...
India Moves Up Again in Ease of Doing Business Ranking
In the annual Doing Business 2020 : Comparing Business Regulation in 190 Economies released by the World Bank on October 24, India jumped 14 places to the 63rd position from its 77th position last year. The indicator measures the performance of countries across 10 different dimensions in the 12-month period ending...
India's Anshula Kant Appointed as CFO of the World Bank
Anshula Kant, managing director of state-owned State Bank of India, has been appointed as managing director and chief financial officer of the World Bank, its president David Malpass announced on Friday, July 12. Kant will be responsible for financial and risk management of the World Bank Group. Referring to Kant,...