India’s relations with the World Bank can be traced back to the latter’s origin. India was one of the 17 countries, prepared the agenda for the Bretton Woods Conference (June 1944). It was also one of the 44 countries which signed the final agreement for the establishment of the Bank. The name “International Bank for Reconstruction and Development” was first suggested by India to the drafting committee. Since then the two have been established a close relationship with each other from framing the policies of economic development in India to financing the implementation of these policies. The article examines concept of financial assistance for development purposes, the establishment, objectives and organizational structure of World Bank along with its subscriptions. It emphasizes on India’s role and association with World Bank. The article also looks into the role played by World Bank in India’s economic development.
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