ADB unveils new strategy, prioritising urban schemes in India
ECONOMY & POLICY

ADB unveils new strategy, prioritising urban schemes in India

The Asian Development Bank (ADB) has outlined its commitment to India's urban-focused flagship programs and schemes in its newly unveiled country partnership strategy. The ADB's operations in India from 2023 to 2027 will prioritise initiatives aimed at driving structural transformation, fostering job creation, promoting climate-resilient growth, and strengthening social and economic inclusiveness.

While specific details regarding the monetary outlay and implementation of contributions to central and state schemes were not provided, the ADB emphasised its intent to deepen engagement with India and support the nation's pursuit of robust, climate-resilient, and inclusive growth. The strategy recognises the potential of urban areas as engines of growth, aiming to unlock their full potential, enhance industrial competitiveness, and generate employment opportunities in formal manufacturing and services sectors.

Highlighting India's swift recovery from the impact of the COVID-19 pandemic, the ADB acknowledged the country's projected economic growth of 6.4% in FY24, ranking it among the fastest-growing major global economies. This aligns with the Indian government's own projection of 6.5% GDP growth for the current fiscal year. However, the ADB emphasised the need for India to address critical challenges related to infrastructure and human development, income and regional disparities, as well as vulnerability to climate change and natural hazards to sustain inclusive growth.

The new strategy is the result of extensive consultations with government counterparts, the private sector, and other stakeholders within India. Its objective is to support India in achieving a higher growth trajectory. Takeo Konishi, ADB Country Director for India, expressed the bank's commitment to this goal and its determination to work closely with Indian authorities and stakeholders to drive progress.

The Asian Development Bank (ADB) has outlined its commitment to India's urban-focused flagship programs and schemes in its newly unveiled country partnership strategy. The ADB's operations in India from 2023 to 2027 will prioritise initiatives aimed at driving structural transformation, fostering job creation, promoting climate-resilient growth, and strengthening social and economic inclusiveness. While specific details regarding the monetary outlay and implementation of contributions to central and state schemes were not provided, the ADB emphasised its intent to deepen engagement with India and support the nation's pursuit of robust, climate-resilient, and inclusive growth. The strategy recognises the potential of urban areas as engines of growth, aiming to unlock their full potential, enhance industrial competitiveness, and generate employment opportunities in formal manufacturing and services sectors. Highlighting India's swift recovery from the impact of the COVID-19 pandemic, the ADB acknowledged the country's projected economic growth of 6.4% in FY24, ranking it among the fastest-growing major global economies. This aligns with the Indian government's own projection of 6.5% GDP growth for the current fiscal year. However, the ADB emphasised the need for India to address critical challenges related to infrastructure and human development, income and regional disparities, as well as vulnerability to climate change and natural hazards to sustain inclusive growth. The new strategy is the result of extensive consultations with government counterparts, the private sector, and other stakeholders within India. Its objective is to support India in achieving a higher growth trajectory. Takeo Konishi, ADB Country Director for India, expressed the bank's commitment to this goal and its determination to work closely with Indian authorities and stakeholders to drive progress.

Next Story
Resources

Skyview by Empyrean is Making Benchmarks in the Indian Ropeway Industry

FIL Industries Private Limited, the parent company of Empyrean Skyview Projects that pioneered ropeway mobility solutions in India with Jammu’s Skyview Gondola, is currently developing the Dehradun-Mussoorie ropeway and is on track to complete Phase I by September 2026. The ropeway is set to be India’s longest passenger aerial monocable covering 5.8 km between the foothills of Dehradun in Purkulgam and MDDA taxi stand in the hills of Mussoorie in just under 20 minutes. The firm pioneered green mobility solutions in India with the development of the flagship Skyview Gondola in Jam..

Next Story
Technology

Creativity is for Humans, Productivity is for Robots!

On most construction sites, the rhythm of progress is measured by the clang of steel, the hum of machinery and the sweat of thousands. But increasingly, new sounds are entering the mix: the quiet efficiency of algorithms, the hum of drones overhead, and the precision of robotic arms at work. Behind the concrete and cables, an invisible force is taking hold: data. It is turning blueprints into living simulations, managing fleets of machines, and helping engineers make decisions before a single brick is laid. This is not the construction of tomorrow; it is the architecture of today – built on ..

Next Story
Infrastructure Urban

Bhartiya Urban Unveils ‘Bhartiya Converge’ GCC Enablement Platform

Bhartiya Urban has launched Bhartiya Converge, its latest business venture designed to become India’s premier platform for enabling Global Capability Centres (GCCs). The initiative offers an integrated ecosystem aimed at helping global clients gain a competitive edge in today’s rapidly evolving business environment. Focused on enhancing turnaround time and operational efficiencies, the company seeks to deliver better business outcomes powered by top-tier talent. Bhartiya Converge presents a customised and integrated suite of microservices that addresses the nuanced and evolving operational..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?