The India Economic Summit of the World Economic Forum (WEF) was held in partnership with the Confederation of Indian Industry in New Delhi, will provide a strategic platform for the WEF’s global multi-stakeholder community to discuss and debate the theme Fostering an Inclusive India through Digital Transformation.
About WEF :
The World Economic Forum (WEF) is a Swiss nonprofit foundation, based in Cologny, Geneva. Recognized by the Swiss authorities as the international institution for public-private cooperation, its mission is cited as “committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas”.
- The Forum is best known for its annual winter meeting for five days inDavos, a mountain resort in Graubünden, in the eastern Alps region of Switzerland.
- The meeting brings together some 2,500 top business leaders, international political leaders, selected intellectuals, and journalists for up to five days (winter) to discuss the most pressingissues facing the world. Often this location alone is used to identify meetings, participation, and participants with such phrases as, “a Davos panel” and “a Davos Man”.
- The organization also convenes some six to eight regional meetings each year in locations such as Latin America and East Asia, as well as undertaking two further annual meetings in China and the United Arab Emirates.
- Beside meetings, the foundation produces a series of research reports and engages its members in sector specific initiatives.The 2011 annual meeting in Davos was held from 26 to 30 January.
- The 2012 meeting was held on 25–29 January 2012, with the theme “The Great Transformation: Shaping New Models”.The 2013 meeting was held from 23 to 27 January, with the theme of “Resilient Dynamism,” following founder Klaus Schwab’s declaration that “the need for global cooperation has never been greater”.
- The 2014 meeting was held from 22 to 25 January, with the theme “The Reshaping of the World: Consequences for Society, Politics and Business”.
- The 2015 meeting was held from 21 to 24 January, with the theme “new global context”. With the theme of ‘Mastering the Fourth Industrial Revolution, the World Economic Forum’s 46th annual conference began on 19 January at the Swiss ski resort of Davos. Other issues such as terror and inequality will also figure in the debates.
About India Economic Summit :
The summit will address key issues of national and regional importance under three thematic pillars: Mastering the Fourth Industrial Revolution, Driving Sustainable and Equitable Growth and, Improving the Ease of Doing Business.
- The world economy today is a matrix of divergent growth patterns, where different economies are growing at different paces. The ‘two-speed’ economic growth theory that was followed for at least two decades before the Global Financial Crisis (GFC) of 2008-09 has, over the last five years, given way to divergent growth paths in both the advanced and emerging economies.
- It has become difficult to cull optimum investment opportunities globally, and BREXIT fears as well as the slowdown in China have further dimmed the global investment outlook.
- The opening plenary session is aptly titled India’s Inflection Point. With a strong demographic dividend, a growing entrepreneurial ecosystem and a large domestic market, the time is right for India’s economy to soar.
- The issues under discussion include making farming attractive and inspirational for the youth, ensuring sustainable and safe means of production and leveraging new technology and innovation.
- The closing plenary session is called India’s Take-Off and will examine how India can translate its potential into action and impact, and take off from here.
- More than 600 participants from business, public sector, science, arts, civil society, media and international organizations spanning 30 countries are participating.
- India will be represented by key public figures including Union ministers Jayant Sinha, Nirmala Sitharaman, Nitin Gadkari, Smriti Irani and Suresh Prabhu.
- The India Economic Summit will showcase the power of technology and storytelling through a series of virtual-reality films. Academics and experts will lead sessions on transformations facing the country.
World Economic Forum :
- Headquarters: Cologny, Switzerland
- Founder: Klaus Schwab
- Founded: 1971