The new world order that has emerged from the recession of 2008 is very complex, interconnected and unpredictable.
European Commission President Ursula von der Leyen says India and the EU are close to a 'historic trade agreement' that could create a market of two billion people and account for almost a quarter of the global GDP.
Former Maharashtra minister and Shiv Sena-Uddhav Balasaheb Thackeray leader Aaditya Thackeray on Monday claimed nearly '50 people', including 'some middlemen' and personal assistants, will be part of the delegation that will travel with Chief Minister Eknath Shinde for the World Economic Forum (WEF) gathering in Davos, Switzerland.
Maharashtra Chief Minister Eknath Shinde on Wednesday said Memorandums of Understanding worth Rs 1.37 lakh crore have been signed at the World Economic Forum (WEF) annual meeting in Davos in Switzerland and termed it as a "big achievement". This will generate employment for one lakh people, said Shinde, who was in Davos to seek investments in Maharashtra. "The MoUs will not remain just on paper," he said, adding that foreign investors have shown trust and faith in the state government.
Several Congress leaders and social media users claimed that it was a 'teleprompter gaffe' as Prime Minister Modi had to pause and then restart his special address to the World Economic Forum's online Davos Agenda 2022 summit, but BJP leaders and many others pointed out that it was a technical glitch due to which the WEF people were not able to patch the PM and requested him to start again.
The World Economic Forum on Monday said it has decided to defer its Annual Meeting 2022 in the Swiss Alpine ski resort town of Davos in the light of continued uncertainty over the Omicron outbreak. The Annual Meeting, which was scheduled to take place in Davos-Klosters, Switzerland between January 17-21, 2022, is now planned for early summer. The World Economic Forum (WEF) held its last Davos summit, attended by top leaders from across the world, in January 2020, just before the outbreak of the coronavirus pandemic, while the 2021 meeting could not take place due to the outbreak.
The WEF said its annual meeting is taking place at a time when multiple crises have deepened divisions and fragmented the geopolitical landscape.
The question is whether Prime Minister Modi can convince the world's investors that India is the ultimate investment destination of 2018, says Kanika Datta.
We need to create collaborative and/or disruptive platforms like Uber and Airbnb in all sectors to ensure responsive and responsible inclusive growth, says C P Gurnani.
Union Minister of Finance Arun Jaitley's opined, in an article made public on his Facebook page, about the economic reforms in India's future and the potential opportunities in the nation's financial future.
There is a significant shift happening towards emerging economies as they start to integrate more rapidly into the global trading system
Citing India's commitment to deep economic reforms and ease of doing business, Prime Minister Narendra Modi asserted on Monday that this is the best time to invest in the country as policy-making is focussed on the needs for the next 25 years for a 'clean and green' as well as 'sustainable and reliable' growth period. In his special address to the World Economic Forum's online Davos Agenda 2022 summit, Modi underlined a host of reform measures undertaken by his government to stress that it has worked to reduce the administration's interference in business by deregulating many sectors and to clear the way for free trade agreements with different countries. India was once associated with "license raaj", he noted and highlighted the measures, including reduction of corporate tax to boost business and doing away with over 25,000 compliance requirements.
''We want to make Vibrant Gujarat the global business hub,' says Gujarat Minister Saurabh Patel.
The accelerating pace of digitalisation, fuelled by the COVID-19 pandemic, has led to a record-breaking year for cybercrime with ransomware attacks rising 151 per cent in 2021, and an average of 270 cyberattacks per organisation being faced, a new study showed on Tuesday. The World Economic Forum's 'Global Cybersecurity Outlook 2022', released during its online Davos Agenda summit, further said that each successful cyber breach cost a company $3.6 million (nearly Rs 27 crore) last year, while the average share price of the hacked company underperformed NASDAQ by nearly 3 per cent even six months after the event in case of the breach becoming public. The WEF said the global digital economy surged on the back of the COVID-19 pandemic, but so has cybercrime and nearly 80 per cent of cyber leaders now consider ransomware a 'danger' and 'threat' to public safety.
Accelerating inequality, the market dominance of tech platforms and remote working are likely to be the longest-lasting legacies of the COVID-19 crisis, the WEF said in a report on Monday. Releasing its Chief Economists Outlook report during the online Davos Agenda Summit, the WEF said that beyond managing the pandemic and vaccine rollout, these trends could shape a new era of fiscal, monetary, and competition policy. Deglobalisation is seen as the least likely of the current trends to continue in the longer term; particularly as international coordination is key to resolving global challenges such as vaccine manufacturing and distribution.
German Chancellor Angel Merkel, French President Francois Hollande, Chinese Prime Minister Li Keqiang, Pakistan Prime Minister Muhammad Nawaz Sharif and Switzerland President Simonetta Sommaruga would be participating in the 45th edition of the meet.
Over 2,500 global leaders in business and politics arrived in this Swiss resort on Wednesday to put their minds together on how best to support the fragile recovery following the worst economic crisis since the 1930s.
Asia's richest man Gautam Adani, besides looking at opportunities to expand his vast empire, is hooked on ChatGPT - the programme that trawls vast amount of information to generate natural-sounding text on virtually anything - from crafting jokes to writing ad copy, debugging computer code, to even generating poems and essays. Adani, whose conglomerate has in recent years diversified from mines, ports and power plants into airports, data centres and defence, penned musing from his visit to Davos to attend the World Economic Forum meeting. "From a meetings perspective, this was perhaps my busiest WEF as I met over a dozen heads of states and several business leaders," he wrote on LinkedIn, talking of new geopolitical couplings, climate change and tight-lipped evangelists and AI.
Indian billionaires saw their combined fortunes more than double during the COVID-19 pandemic, and their count shot up by 39 per cent to 142, while the wealth of the ten richest is enough to fund school and higher education of children in the country for 25 years, a new study showed on Monday. In its annual inequality survey released on the first day of the World Economic Forum's online Davos Agenda summit, Oxfam India further said that an additional one per cent tax on the richest 10 per cent can provide the country with nearly 17.7 lakh extra oxygen cylinders, while a similar wealth tax on the 98 richest billionaire families would finance Ayushman Bharat, the world's largest health insurance scheme, for more than seven years. The COVID-19 pandemic saw a huge rush for oxygen cylinders and insurance claims during the second wave last year.
As the COVID-19 pandemic continues to unravel in various parts of the country, the World Economic Forum on Monday announced the cancellation of its high-profile annual meeting for 2021 after postponing it at least twice along with two changes in venue. The next annual meeting will now take place in the first half of 2022, while the location and date would be determined after assessing the situation later this summer, said the Geneva-based organisation that has been hosting a yearly congregation of the rich and powerful from across the world in Swiss ski resort town of Davos for 50 years. This year's Davos summit was originally scheduled for January 2021, but was later moved to a different location in Switzerland, Lucerne, and then to Singapore with an August 2021 schedule.
Asserting that the self reliant India programme will help revive the global economy, Prime Minister Narendra Modi on Thursday told global business community that his government aims to transform the country through access, inclusion and empowerment while also ensuring complete data security. Addressing the World Economic Forum's online Davos Agenda Summit, where he also interacted with global business leaders, Modi also said India offers a predictable and friendly environment from tax regime to FDI norms. He said Aatmanirbhar Bharat movement is committed to global good and global supply chain while the country's digital profile has been completely transformed.
'From March 2020 to November 2021, the combined wealth of the billionaires of this country has doubled.'
India will soon make available many more COVID-19 vaccines to other countries after two Made-In-India jabs have already been introduced to the world, Prime Minister Narendra Modi said on Thursday while emphasising the country's global responsibility in fighting the pandemic.
Former Congress president Rahul Gandhi's meeting with British Labour leader Jeremy Corbyn in London triggered a row back home with the Bharatiya Janata Party asking him whether he endorsed the UK opposition leader's "anti-India" views.
The number of Indians over 15 either working or looking for work is lower as a percentage than in the United States, China, Bangladesh or Pakistan, points out Aakar Patel.
Betting big on the 'Internet of Things' as the third major wave in technology space, IT major TCS' chief N Chandrasekaran has said that going digital was no more an option, but a default now.
In 2010, the richest 80 people in the world had a net wealth of $ 1.3 trillion.
Jaitley said he is meeting the existing investors and potential investors, those who are looking at India, those who are looking to expand.
'If you consider only demonetisation and GST as my government's work, it will be a big injustice to me.'
A significant 71 per cent of India's CEOs are very confident of their companies' growth in the next 12 months, a 7-point increase over last year's and 33 points above this year's global average (38 per cent).
In a tweet, the party said Ram Temple was not on the agenda of Shah during his one-day trip to Hyderabad.
'The muscularity of the last three years didn't bring any dividends and if anything, Chinese attitudes only hardened,' says Ambassador M K Bhadrakumar.
'An isolationist US and a disintegrating European Union will create a power vacuum that only China is in a position to fill -- a conclusion that is uncomfortable but unavoidable,' says Nitin Desai.
'NDA allies have realised that if they don't dump the BJP, then people will dump their party in 2019.' 'People's mood is against the BJP'
India must be seen to be continuing on the path of reducing tariff and non-tariff barriers, if it is to fulfil its ambitions to export to the rest of the world.
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