World Bank praises India's technical prowess

By agencies   |   Tuesday, 27 September 2005, 07:00 Hrs
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WASHINGTON: The World Bank today praised IndiaÂ’s technical prowess and said making India a "technology innovator" will be important for the World Bank's growth.

Word Bank's County Director for India, Michael Carter said the Bank would provide loans to fund public expenditures for computerizing civil service functions and record keeping reducing corruption and administrative burden that hampers development.

"There is the view that an important step in India's movement towards being a fully developed country will be that India itself will begin to be a source of innovation," Carter told "Emerging Markets".

"India has great incipient strengths in technical areas, but that has been very much focused on the adaptation of knowledge from elsewhere," he added.

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