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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March 2014: South Asia has experienced a long period of robust economic growth, averaging 6% a year over the past 20 years. This strong growth has translated into declining poverty and impressive improvements... Show More + in human development. The percentage of people living on less than $1.25 a day fell in South Asia from 61% to 31% between 1981 and 2010. The proportion of poor is lower now in South Asia than any time since 1981. Still, 42% of the world’s poor live in South Asia —more than any other region in the world. The region is home to half a billion poor and its development is key to meeting global poverty and prosperity goals.As referenced in the January 2014 Global Economic Prospects, growth in South Asia rose to an estimated 4.6 percent in 2013 from 4.2 percent in 2012 on a market price-calendar year basis. Growth was, however, well below its pre-crisis pace, reflecting a combination of domestic imbalances, weakening investment rates, and a challenging external environment. A cycli Show Less -
In the spirit and theme of regional cooperation and political economy, the World Bank also hosted a policy competition. In the session, participants were split into six groups with representation from... Show More + each country, and asked to answer how they think national competitiveness can be improved through South Asian regional cooperation. Some ideas consistent across all groups was to break down barriers for people meeting, increasing trust between countries, and for more opportunities that allow people to meet. Others suggested building a South Asian University and leveraging and boosting the South Asia Association for Regional Cooperation (SAARC).After a grueling three days of academia, the participants traveled to sites signifying the rich and common history of Pakistan and South Asia. They visited Harappa, an ancient site of the Indus Valley Civilization; Islamabad, the modern capital of Pakistan; and the old city of Lahore, a major urban center of South Asia for centuries.This year marked Show Less -
Washington, D.C. – The South Asia Regional Art Exhibition "Imagining our Future Together" organized by the World Bank will open on Jan. 22, at World Bank headquarters.South Asia is the least... Show More + integrated region in the world, and more and better regional cooperation will help the region to realize its full potential. Breaking barriers is not only about economics and trade of goods and services. Art has the potential to connect people and countries. To take this vision forward, the World Bank’s South Asia vice presidency and the World Bank Art Program organized a regional competition for young South Asian artists in 2012. It received more than 1,000 entries from 231 talented young artists born after 1974 inspired by the idea of a more integrated region.The theme for the competition was creating a vision for a common future and showcasing the unique beauty, creativity, and challenges of South Asia. Forty-four artworks by the 25 winners of the competition are being exhibited here. Show Less -
Kathuria explained that the people of both nations, especially those in their poor and isolated border regions, will benefit enormously if barriers to cross-border trade are reduced and ultimately dismantled.... Show More + “If trade is made easier, Bangladeshi enterprises can grasp new opportunities to ramp up their exports to India. They can benefit from India’s vast markets as well as its investments and technology, while Bangladeshi workers can gain from more and better jobs,” said Kathuria. “This will help Bangladesh increase its growth rate from 6 to 8% per annum and bring it closer to fulfilling its aspiration of attaining middle-income status by 2021.” India stands to benefit too. Bangladesh, with some 150 million people, presents a large and growing market for India’s entrepreneurs. Indian companies can gain from Bangladesh’s competitive labor and lower costs of production to form a common value chain that is beneficial to all. And, in helping Bangladesh’s economy grow, economic a Show Less -
NEW DELHI – Economic ties between India and Bangladesh are far below potential. Greater access to each other’s markets, improvements in physical connectivity and transit, and energy trade between India... Show More + and Bangladesh can help unlock this trade potential, says a new World Bank study.The study titled “Unlocking Bangladesh-India Trade: Emerging Potential and the Way Forward” says greater engagement in these areas can also stimulate employment and other economic and social activities, which in turn would help reduce poverty (particularly in the border areas), enhance foreign direct investment (FDI) flows, and generate new business opportunities for the private sector. “Today, South Asia is one of the least integrated regions in the world. Greater bilateral economic cooperation between India and Bangladesh can serve as a critical step for an integrated South Asia,” said Isabel Guerrero, the World Bank’s vice president for the South Asia region. India is one of Bangladesh‘s prima Show Less -
Visions that transcend bordersThough the 25 winning artists are from different backgrounds and use a variety of media and styles, their work has one thing is common. Each artwork tells the story of individual... Show More + countries and the reality seen through their eyes, while expressing a strong willingness to reject isolation and work beyond borders for a more integrated South Asia."As regional cooperation is gaining traction, creative artistic expression has a huge role in bringing about social and cultural change by connecting the young artists across the region," Guerrero said. "We hope this exhibition will be a seed for many more regional shows and networks of artists in the future."The exhibition gives the artists an opportunity to network with each other, exchange ideas, and set the stage for future collaborations. At a time when most artists seek to exhibit their works in the West, Manjunath Honnapura from India appreciated the opportunity to visit neighborin Show Less -