Sitharaman urges World Bank to prioritize private sector in development agenda

Finance Minister Nirmala Sitharaman has called on the World Bank to place the private sector at the center of its development agenda. Speaking to the multilateral lender, she emphasized the need to prioritize job creation and productivity improvements over aggregate financing figures.

Sitharaman advocated for a shift in approach that would encourage competitive pricing mechanisms and expanded use of local currency tools. She stressed that development outcomes should be measured by their tangible impact on employment and economic productivity rather than loan disbursement volumes.

The comments reflect India's push for World Bank lending strategies that align more closely with private sector-led growth models and reduce reliance on large-scale government borrowing for development projects.