ADB launches India strategy for 2023-27; focus on employment creation, green growth

The Asian Development Bank (ADB) on Tuesday rolled out its 2023-27 country partnership strategy for India that identifies accelerating structural transformation and job creation, promoting climate-resilient growth, and deepening social and economic inclusiveness as key focus areas.

The Manila-headquartered multilateral bank said it is focussed on deepening its engagement with the country and supporting the country's drive for robust, climate-resilient, and inclusive growth for the next five years.

"Support to India's climate agenda will be at the forefront of the new strategy via interventions in energy transition, transport decarbonisation, climate adaptation, and disaster risk management," ADB country director for India Takeo Konishi said in a statement.


"The new CPS aims to help India achieve a higher growth trajectory. ADB will simultaneously increase support for education, health, and social protection, and will assist improvements in urban liveability and rural development while ensuring gender empowerment and environmental sustainability," Konishi added.

ADB projects India to grow at 6.4% in FY24.

"The country needs to accelerate and sustain inclusive growth by tackling critical challenges in infrastructure and human development, income and regional disparities, and vulnerability to climate change and natural hazards," it stated.

The bank plans to contribute to national flagship programmes on industrial corridors, multimodal logistics systems, urban infrastructure, skill ecosystem, and small businesses. It also plans to meet its objectives using public-private partnerships.