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The World Bank Group and India on Friday announced a new Country Partnership Framework (CPF), envisaging USD 8-10 billion in annual financing over the next five years to help accelerate India's next phase of growth and support its vision of becoming a developed economy. The Union Finance Minister welcomed the new Country Partnership Framework (CPF) with the World Bank Group, which is fully aligned with India's Viksit Bharat vision. The CPF focuses on leveraging public funds with private capital, creating more jobs across rural and urban India, and enriching projects with the World Bank Group's global knowledge, Finance Minister Nirmala Sitharaman said after the World Bank team led by President Ajay Banga called on her. Both leaders also discussed ways to deepen India-World Bank cooperation in support of India's long-term development vision of Viksit Bharat, the finance ministry said in a post on X. "Leveraging public funds with private capital, creating more jobs across rural and .
India stands to reduce trade costs and significantly boost export competitiveness by embracing paperless trading systems, with such initiatives expected to cut trade costs of economies in the Asia-Pacific region by about 25 per cent, according to a joint report by policy think tanks ICRIER and RIS. Cross-border paperless trade, which builds on the broader idea of paperless trade and refers to conducting trade through electronic communication, is gaining momentum regionally with the Framework Agreement on Facilitation of Cross-Border Paperless Trade in Asia and the Pacific (CPTA) being a key driver. Countries joining this agreement benefit from streamlined trade procedures, lower logistics costs, and improved regulatory cooperation. As of January 2025, 16 countries are a part of the CPTA. India has taken multiple domestic reforms, including the Single Window Interface for Facilitating Trade (SWIFT) and electronic handling of indirect tax documents, yet it has not joined the CPTA so .