India, World Bank Group unveil $50 billion plan to power jobs and private investment for Viksit Bharat 

India and the World Bank Group (WBG) on January 30 launched a new Country Partnership Framework (CPF) to steer the country’s growth ambitions toward its Viksit Bharat vision — India’s goal of becoming a developed economy by 2047. The five-year roadmap focuses squarely on generating jobs and crowding in private investment, with $8-10 billion in annual support from the Bank Group. 

“We welcome the new Country Partnership Framework with the World Bank Group, which is fully aligned with our Viksit Bharat vision,” said Union Finance Minister Nirmala Sitharaman. “Leveraging public funds with private capital, creating more jobs across rural and urban India, and enriching projects with the Bank Group’s global knowledge will be key to achieving sustainable impact at both speed and scale.” 

With over 12 million young Indians entering the labor market annually, the CPF puts private sector-led job creation at the center. The World Bank Group’s global jobs strategy — built on investing in infrastructure, enabling a business-friendly environment, and scaling risk-mitigation tools — will be tailored to India’s context across five priority sectors: infrastructure and energy, agribusiness, healthcare, tourism, and value-added manufacturing. 

“India is one of the key engines of global growth today,” said Ajay Banga, President of the World Bank Group, who is in India for the launch. “Creating more jobs is at the core of our work. This partnership brings together financing, reforms, and private sector investment to turn growth into opportunity for millions of Indians.” 

The CPF, the result of a year-long collaboration, aims to achieve greater selectivity, scale, and developmental impact.

It outlines four strategic outcomes: 

• Boosting rural prosperity and resilience by diversifying incomes beyond agriculture, improving value chains, and managing water resources. 
• Supporting urban transformation through infrastructure, housing, innovative financing, and integrated planning—especially with India’s urban population set to double by 2050. 
• Investing in people across the life cycle, from early childhood health to job-aligned skills, to smooth school-to-work transitions. 
• Strengthening core infrastructure and energy security, including support for renewables, e-mobility, and green hydrogen through private capital mobilization. 

Initial rollouts under the CPF include: 

• An $830 million skilling initiative to modernize Industrial Training Institutes and help over a million youth —particularly women — gain market-relevant skills. 
• A $490 million agricultural project in Maharashtra to boost crop productivity using precision farming and digital tools. 
• A $280 million health program in Kerala to enhance digital health services and cybersecurity. 
• A $750 million loan to Credila Financial Services for higher education financing, enabling up to 190,000 students to obtain job-ready qualifications. 
• A program to scale up electric mobility, creating jobs, greening transport, and supporting local manufacturing with a robust payment security mechanism. 

The CPF also reflects broader institutional reforms at the World Bank Group — streamlining processes for faster, more impactful support. Many of these reforms took shape during India’s G20 presidency. 

India is currently the World Bank Group’s largest client, with a portfolio including $20 billion in IBRD commitments, $16.72 billion in IFC investments, and $618 million in MIGA guarantees. The new framework shifts more focus to leveraging private capital and drawing deeply from the Bank Group’s global expertise.