With a population of more than 1.2 billion, India is the world’s largest democracy. Over the past decade, the country’s integration into the global economy has been accompanied by economic growth. India has now emerged as a global player.
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ChallengeBy 2030, about 600 million jobs must be created in developing countries – mainly in Africa and Asia – to accommodate new entrants to the workforce. Such rapid job growth requires an almost unprecedented... Show More + pace of job creation. To meet the job-creation challenge, macroeconomic and investment-climate reforms, while necessary, will not be sufficient. An approach to job creation that goes beyond macroeconomic policies to develop job markets – focusing on specific industrial sectors and clusters, chosen because of their competitive potential – is a more targeted way to promote job growth. Unlike earlier efforts in industrial policy, the Competitive Industries approach relies on on rigorous methodologies and continuous measurement to demonstrate results, manage fiscal costs and limit the risk of “regulatory capture.” Show Less -
ChallengeGlobally, 1.3 billion people live in extreme poverty. The CGAP-Ford Foundation Graduation Program was designed to address the reality that there are few sustainable pathways out of extreme... Show More + poverty for the most vulnerable. Both microfinance and livelihoods programs tend to reach people at, or immediately below, the poverty line – but not those who are extremely poor: those at the lowest level of the economic ladder. While they do benefit from social safety net programs, which typically include cash transfers, food aid and/or public-works employment, most such programs lack effective exit strategies and fail to prepare beneficiaries for market activities. So, once the support ends, beneficiaries fall back into the ranks of the food-insecure. The development problem identified was two-fold as both a targeting challenge and an approach challenge. Although the poorest of the poor are those most in need, they are often inadvertently overlooked by many development interventions. Show Less -
Bank Group ContributionData: The World Bank is a leading global source of data on financial inclusion, including through the Global Findex survey, Enterprise Surveys, and the Global Payments Systems Survey.... Show More + Country level surveys and assessments underpin public sector reforms and private sector actions, and inform a coordinated and effective approach. They also enable progress in reaching financial inclusion targets and in implementing actions outlined in financial inclusion strategies, as well as the impact of those actions. The Consultative Group to Assist the Poor (CGAP), a multi-donor partnership supported by over 30 development agencies and private foundations and housed at the World Bank, also provides important research and thought leadership for financial inclusion and microfinance. Lending: The World Bank has an active lending portfolio for access to finance of more than $3 billion globally, including $600 million in IDA and $1.4 billion in IBRD lending, in more than 60 co Show Less -
‘I did whatever I could to survive’Verma’s life epitomizes the emerging new India, where people are pulling themselves up by dint of their own hard work and gender roles are fast being reversed, with women... Show More + making the most of new economic opportunities. Seated in the one-room tailoring workshop run by her brothers from the tiny ground floor room of their family home, Verma recalls the struggles she has seen.“I did whatever I could to survive,” she says with a sadness that still lingers, “because I was both father and mother to my daughter.” Armed with a high school diploma, she worked a number of small jobs to help put food on the table at her parents' home.In true Indian tradition, the extended family lived together in a spare two-room house – 12 people in all, including her two brothers and their wives and children. One of her brothers was not up to much, putting the additional burden of sustaining him and his family on her young shoulders. Then, completing a bachelor’s degree al Show Less -
Washington, D.C., October 23, 2012—Local entrepreneurs in developing countries are finding it easier to do business than at any time in the last 10 years, highlighting the significant progress that has... Show More + been made in improving business regulatory practices across the globe, according to a new report released today by the World Bank and IFC.The report, Doing Business 2013: Smarter Regulations for Small and Medium-Size Enterprises, marks the 10th edition of the Doing Business series. Over the past decade, these reports have recorded nearly 2,000 regulatory reforms implemented by 180 economies. The reforms have yielded major benefits for local entrepreneurs across the globe. For example:Since 2005, the average time to start a business has fallen from 50 days to 30—and in low-income economies the average has been reduced by half.In the past eight years, the average time to transfer property fell by 35 days, from 90 to 55, and the average cost by 1.2 percentage points—from 7.1 percent of the Show Less -
WASHINGTON, Oct. 23, 2012–Most economies are recovering from the sharp drops in new firm registration triggered by the 2008 global financial crisis—an improvement that may have been bolstered by government... Show More + reforms, according to new World Bank data released today. In 2011, more than 60 percent of the world’s economies saw a faster pace of new firm registration than in the year before. That is almost double the 2009 rate of 34 percent, although it still lags behind the 2007 rate of 75 percent, according to the World Bank Group Entrepreneurship Database, which is updated every two years.Reforms that significantly reduce the time, cost, days and number of steps required to start a business—generally over a 50 percent reduction in any given measure recorded by the World Bank Group’s Doing Business series—have a real and sustainable impact on new firm registration, according to an analysis by economists in the World Bank’s Development Research Group.For example, Rwanda registered 4,500 new f Show Less -