Annual meeting of World Economic Forum will be held in January 2018 at Davos. This meeting is attended by world’s top CEOs. A large number of heads of governments also attend this meeting. Last time when an Indian Prime Minister attended this meeting was in 1997. It is expected that PM Modi will attend this meeting and is likely to be treated like the chief guest. Nearly one hundred Indian CEOs and policy makers are expected to attend this meeting. It is also expected that India Theme will be one of the focus areas. There will be many conference sessions around this India Theme. At present world business community has shown interest to invest in India provided some of the reservations are clarified. India will try to court the global business community and will invite them to invest in India.
World Economic Forum (WEF) is an international body and a Swiss nonprofit foundation. It is 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. Its annual meeting is attended by some 2,500 top business leaders, international political leaders, economists, and journalists for around four days to discuss the most pressing issues facing the world. This annual meeting is supposed to be a neutral platform and is used as such by political leaders.
Indian economy present and future
Now let us examine the Indian economy in context of the annual meeting of World Economic Forum. As per Center of Economics and Business Research (CEBR), India will emerge as world’s third largest economy by the year 2017. Despite temporary setbacks caused by demonetization and introduction of GST, the Indian economy has already caught up with that of UK and France in dollar terms. A very interesting trend is emerging. By the year 2032, five of the ten largest economies will be from Asia. The European country economies have started moving down the ranking ladder. USA will certainly lose its first ranking to China in coming years. Use o technology and rapid urbanization will be key actors which will reshape world economy.
|Economic growth in India|
Article by Col P Chandra (Retd)
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