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World Bank flags need for deeper financial‑sector reform in India’s push to $30 trillion economy
World Bank says India needs faster financial reforms and higher private‑capital mobilisation to hit its US$30 trillion target.
According to the latest World Bank Financial Sector Assessment (FSA) report, India must further accelerate financial‑sector reforms and enhance private‑capital mobilisation to reach its goal of becoming a US$30 trillion economy by 2047.
The report cites India’s digital public‑infrastructure gains as strengths but warns that reform pace must pick up to underpin investment, efficiency and inclusion.
The banking sector now features broader participation, but non‑bank financial companies remain under stress and credit growth is uneven.