India to showcase its economic strength and growth potential at WEF

The Dollar Business Bureau

Union ministers Nitin Gadkari and Nirmala Sitharaman joined today with over 100 corporate leaders from India at the World Economic Forum meet at Davos, Switzerland to display flagship programmes such as Make In India, Digital India etc. These programmes are expected to be showcased by the Government officials as the country seeks to attract more investments. They would also represent India’s economic strength and overall growth potential. 

The WEF, held at Davos annually is the most sought-after gathering of elites from the spheres of business and politics. This year, the theme reflects a need for responsive and responsible leadership, very apt considering the political shocks that major western nations have rocked the world economic scene with. 

India appeared to be losing importance at the Summit after Chinese President Xi Jinping made a strong case for globalisation. India is expected to get back into focus with several bilateral engagements that Union Ministers are scheduled to hold with delegates of other nations.

Also, several other corporate leaders including Mukesh Ambani, Tata Sons Chairman N Chandrasekaran and SBI Chairperson Arundhati Bhattacharya, are scheduled to participate in some key sessions at the WEF meeting. Union Minister Gadkari will be participating in a panel discussion on 'Strategic Update: The Future of Urban Mobility'. The discussion deals with the issues tackling security threats to connected vehicles, increasing road safety through regulation, education and technology, reducing congestion, carbon emission and pollution. Also, the Union Minister would be holding separate meetings with Presidents and CEOs of PSP Investment Canada, and, Caisse de depot et placement du Quebec, Canada.

Union Minister Sitharaman will be participating in a session on harnessing regional cooperation in South Asia along with Bangladesh Prime Minister Sheikh Hasina. Andhra Pradesh Chief Minister Chandrababu Naidu has started holding discussions with Microsoft chief Satya Nadella regarding collaboration of Microsoft with AP on e-Gov and cyber security. AP Chief Minister has also held talks with senior executives from various multinationals to attract foreign investments.

There were discussions related to artificial intelligence with IT leaders saying that it is essential to form "new collar jobs" as innovations would replace some jobs and existing employees would need to be re-trained in-order to sustain the upgrade in technology. In a session, IT industry leader Gurnani said that artificial intelligence is here to stay.

Apart from the Union Ministers, government officials including DIPP Secretary, Ramesh Abhishek and NITI Aayog CEO, Amitabh Kant will be attending the meeting. Reliance chief, Mukesh Ambani and IT major Infosys' CEO, Vishal Sikka are scheduled to participate in the fourth industrial revolution session to regain their position as globalisation champions.