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India not to be referred as developing nation

The World Bank has dropped the use of developing nation tag for India in its specialised reports and instead classifies it as a “lower-middle-income” economy in South Asia, a top official has said. “In our World Development Indicators publication, we’ve stopped grouping low- and middle-income countries together as ‘developing countries’. For analytical purposes, India continues to be classified as lower-middle-income economy,” World Bank Data Scientist Tariq Khokhar says. “We are not changing term ‘developing countries’ or ‘developing world’ in our general work but when it comes to presenting specialized data, we will use more precise groupings of countries,” Khokhar said says, adding, the term developing country was no more useful.

While India will be referred to as a lower-middle-income economy in all of WB’s analytical reports, it may be referred to as a developing country only in some of the generic communications. The decision to stop using the term developing countries, the World Bank specialist said, has been taken in view of the word having no universal definition.

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