Latest updates: Prime Minister Narendra Modi will deliver the opening keynote address at the World Economic Forum (WEF) at 3.45 pm IST on Tuesday. He will also interact with 120 members of the International Business Council on Tuesday, which is a part of the WEF.
The prime minister is likely to emphasise his government's vision of a 'New India' and position himself and the country as a democracy willing to engage with all corners in a friendly, multi-dimensional manner, according to The Economic Times.
Maharashtra chief minister Devendra Fadnavis told ANI that global CEOs applauded India's efforts to bring in a regime like GST. "GST and demonestisation were bold initiatives and people now feel economy is getting cleaner and predictable," he added.
The prime minister is accompanied by six Union ministers, including Finance Minister Arun Jaitley, Railway Minister Piyush Goyal, Commerce Minister Suresh Prabhu, Dharmendra Pradhan, MJ Akbar and Jitendra Singh.
Besides, Maharashtra chief minister Devendra Fadnavis and Andhra Pradesh chief minister Chandrababu Naidu, over 100 CEOs will also accompany Modi. This will take Indian delegation's total to 129 — the fourth highest after the US (780), the UK (266) and Switzerland (233 people). China will have 118 participants.
Prime Minister Narendra Modi with Switzerland President Alain Berset in Davos. AP
Ahead of the meeting, Modi, in a series of tweets with the hashtag #Indiameansbusiness, announced his agenda for the five-day global event.The World Economic Forum Annual Meeting 2018 is taking place in Davos-Klosters, Switzerland, under the theme 'Creating a Shared Future in a Fractured World'. Prime Minister Narendra Modi is at the summit. It is the first time since 1997 that an Indian prime minister is attending the Davos summit
According to WEF's 'Readiness for the future of production report', India, with total manufacturing value of $420 billion in 2016, is fifth largest manufacturer in the world with over 7 percent per year growth on average. The country's total manufacturing value accounts for 12-15 percent of the total global value. "Home to the second-largest population in the world and one of the fastest growing economies, the demand for Indian manufactured products is rising. India has room for improvement across the drivers of production, except for demand environment where is ranks in the top 5," the WEF said.
Superstar Shahrukh Khan has also been invited for the mega event to talk about 'women empowerment' and its significance for India.
(With PTI inputs)
Published Date: Jan 23, 2018 17:15 PM | Updated Date: Jan 23, 2018 17:50 PM
Highlights
PM Narendra Modi met his Canadian counterpart Justin Trudeau in Davos
Rahul Gandhi hits at Modi right after WEF speech, says Dear PM please tell Davos why 1% Inidans hold wealth of 73% India
Sunil Bharti Mittal says PM addressing WEF matter of great pride
"It was a matter of great pride that our prime minister addressed the WEF like a very tall leader," Mittal told India Today. He said that in is opinion, Modi's speech surpassed China's President Xi Jinping's speech last year. He also added that like the prime minister said, in a fractured world, India can act like a cement to bridge gap.
India believes in a multi-polar world: Narendra Modi
"India stood up for world peace after the two world wars, despite the fact that it did not have any direct stakes in the war. India has sent the most number of UN peacekeeping forces. This is because we have always been willing to help other nations. We believe in a multi-polar world where everyone grows together," Modi said.
Despite being a developing nation, India is cooperating in capacity building in other nations
"India has never had any political or economic ambitions. Despite being a developing nation ourselves, we have helped in capacity building in other nations. We do not exploit other nations' natural resources or infrastructure, but we try to help them in capacity building according to their needs. This has been our policy," Modi said.
Narendra Modi lauds GST, says India using technology to boost transparency
Narendra Modi says people welcome my policies, repeated polls prove that
My govt's motto is 'sabka sath sabka vikas', says Narendra Modi
Forces of protectionism growing strong: Modi
"Protectionist forces are growing stronger as we are becoming increasingly focusing on ourselves," Modi said. Quoting Mahatma Gandhi's philosophy, Modi said, "We welcome the breeze of new cultures in our land, but if the same breeze tries to uproot us, we will resist," Modi said.
All nations are becoming self-centred': Narendra Modi
Even though everyone talks of a more globally connected world, we must admit that the sheen of globalization is fading, Modi said. He said that there has been a visible dip in bilateral agreements, and initiatives for cross-border investment. Cross-border trades are not growing at the pace they should. All nations have become increasingly self-centred," Modi said.
Narendra Modi highlights challenges of climate change
Highlighting the challenges posed by climate change and increasingly extreme weather conditions, Modi said that the increasing erraticism in weather is a threat to the entire mankind. Despite this are we really leaving behind our differences and coming forward to help each other battle this challenge? We must think that whether our greed for development has taken us forward or has it caused our destruction," Modi added. He said he hoped the developed nations will come forward and share technologies for combating this challenge.
One thread connects us all in world, says Modi as he urges for world unity
Invoking the concept of "Vasudhaiv Kutumbakam (World is one family)", Modi said that we are all linked by a single thread. However he said that our differences and disagreements have made our collective struggle against problems of mankind much more difficult. He said there is a vast espanse of challenges that is threatening the mankind. He said we must remember that in the end, we are all connected by one thread and are bound like a family.
Future belongs to those who controls data: Modi
“Technology has the ability to bend, break, link and a a very good example is in the use of social media. Today whoever controls data is being seen as the one who can control the future," Modi said.
PM Modi compares India's standing from 1997, when an Indian PM last attended WEF
"Thinking of the time when Sri HD Deve Gowda came here, it already feels like a memory from bygone era," Modi said. He said today after two decades our societies have changed greatly.
"Then, our GDB was a little over $400 Billion, and nobody had heard of Harry Potter, Twitter, or Osama Bin Laden. Tweeting was the job of birds not human beings. Today we are not just a intricately networked society but are heading towards a technology driven transformtion," Modi said.
Great pleasure to be at WEF: Narendra Modi
"I am glad to be a part of the World Economic Forum, and I am grateful for the Swiss people for hosting me," Modi said.
PM Modi about to start his keynote address
Shah Rukh Khan joins plenary session to hear PM Modi ahead of his keynote address
Klaus Schwab introduces PM Modi ahead of his keynote address
Watch: Swiss President's speech promoting social inclusion and warning against rise of nationalism
Swiss President, Alain Berset speaks about return of nationalism and an increasingly divided world
"We face multiple challenges, there is instability in many regions of the world, protracted armed conflict leading to vast displacements and sowing the seeds of terrorism," he said. He added that the good news stories should not blind us, while highlighting that many people thought that the rise of nationalists and divisive forces was a passing phase, but it was not. It is a result of deep-seated resentment and anger among peple. And it can only be improved by social inclusion, he said.
A large crowd at WEF to hear PM Narendra Modi
Prime Minister Narendra Modi takes stage at WEF in Davos
Prime Minister Narendra Modi was welcomed at the WEF in Davos. The prime minister will deliver his keynote speech at 3:45 pm IST and has said he "looks forward to sharing my vision for India's future engagement with the international community".
Prime Minister Narendra Modi met President of Switzerland Alain Berset
Narendra Modi will bat for the liberal democratic order at Davos
Multiple reports emerging out of Davos ahead of the World Economic Forum plenary session suggest that India is the flavor of the season. Be it the big hoardings on 'India means Business', vada-pav stalls or yoga instructors, the global elite is willing to listen to what India has to say. The biggest-ever Indian delegation, led by Prime Minister Narendra Modi, is a subject of keen interest.
The attention on India isn't merely a PR gloss. There's indeed a clash of models playing out in the geopolitical world and India, with its democratic institutions, principles and deference for rules-based regime presents the model that the liberal order desperately hopes will succeed. China presents the other model -- of aggressive growth that expands at the cost of the liberal order. The interest in India therefore is also borne out of an existential crisis that the liberal democratic order is facing right now. Modi has a bigger burden than he possibly believes he has.
Did you know, Davos summit began as a small gathering of European managers in 1971?
Catch some little known facts about the World economic Forum, now termed one of the biggest congregation of global CEOs and world leaders.
Christine Lagarde says India needs to fix on financial services sector
IMF MD Christine Lagarde said that India should continue with its economic reforms with special focus on financial services sector.
Justin Trudeau reaches in Davos at the WEF summit
Melania Trump to skip Davos summit
In a change of plans, US First Lady Melania Trump will not be joining President Donald Trump at Davos, reported CNN.
Watch: 'Worst in the banking sector is now behind us': SBI Chairman in conversation with CNBC TV18
This year's WEF led by all-female group of co-chairs
The co-chairs are:
Erna Solberg, Prime Minister of Norway
Chetna Sinha, Founder and Chair, Mann Deshi Foundation
Sharan Burrow, General-Secretary of the International Trade Union Confederation (ITUC)
Fabiola Gianotti, Director-General, European Organisation for Nuclear Research (CERN)
Isabelle Kocher, CEO, Engie Group
Christine Lagarde, MD, IMF
Ginni Rometty, Chairman, President and CEO, IBM Corporation
Narendra Modi will aim to raise India's economic and strategic profile
When Prime Minister Narendra Modi opens the inaugural address at the World Economic Forum (WEF) in Davos, he will aim to raise India's economic and strategic profile. Despite a high-single digit growth that has pulled millions and millions out of poverty and a burgeoning middle class, India still suffers from an image problem. The predominant global narrative remains the triumph of hope over experience. Everyone agrees that India is the next big story tomorrow but as they say, tomorrow never comes.
This is exactly what Modi will seek to dispel. Armed with positive data from IMF, World Bank and other ratings agencies, the prime minister will try to show that tomorrow has indeed arrived. India's growth still remains far from inclusive. India actually lags behind Sri Lanka, Bangladesh, Nepal and China even Pakistan in WEF annual inclusive index, but the prime minister will argue that his deep-seated structural reforms are aimed at removing that anomaly. He is also expected to stress on India's demographic dividend and an educated workforce for sustainable growth.
Modi likely to share his vision of 'New India' at Davos
Narendra Modi is likely to emphasise his government's vision of a 'New India' and position himself and the country as a democracy willing to engage with all comers in a friendly, multi-dimensional manner, according to The Economic Times.
Pakistan PM Shahid Khaqan Abbasi to attend WEF from Wednesday
Pakistan prime minister Shahid Khaqan Abbasi will participate in the WEF from Wednesday where he will project Pakistan as a prime destination for business, investment and trade. The prime minister will participate in a number of important events and hold bilateral meetings with key world leaders and CEOs of 15 leading multinational organisations from the US, Europe, China and Japan.
During his two-day stay, Abbasi will interact with heads of states and governments in a special session of the Informal Group of World Economic Leaders (IGWEL). He will also participate in a WEF session titled 'the Belt and Road Impact' on Wednesday, the Foreign Office said in a statement. - PTI
Modi's presence in Davos opens up business for India: Piyush Goyal
Union minister Piyush Goyal was quoted as saying by ANI, "World Economic Forum represents business from all parts of the world. You are looking at the big Indian opportunity, the big Indian market, the new paradigm of doing business and easier environment to invest in, to flourish in. Prime Minister's presence at the World Economic Forum in Davos this year is certainly a big message to the world community that India is open for business."
Meanwhile, avalanche alert in Switzerland
Meanwhile, Switzerland went on avalanche alert on Monday as fresh snow smothered much of the Alps a day before the World Economic Forum gets under way. A bulletin from the SLF Institute for Snow and Avalanche Research in Davos showed a broad band of the mountainous country under Level 5 avalanche danger, the highest on a 1-5 scale.
"Fresh snow and snow drift accumulations are prone to triggering (avalanches). Until late in the night a large number of natural avalanches are to be expected," it said. Snow slides could be deep and large, it added, posing danger to exposed settlements and transit routes. The accumulation of snow was the highest since 1999.
Modi in Switzerland
Watch: Executive director of WEF Klaus Schwab welcome address
Modi first prime minister in 2 decades to attend WEF
Modi is also the first Indian Prime Minister to attend the WEF meet in two decades, the last one being HD Deve Gowda in 1997. Moreover, at least 3,000 world leaders from business, politics, art, academia and civil society would be attending the meeting whose theme is 'Creating a Shared Future in a Fractured World'.
RECAP: WEF meet opens with Pope's message
Mahindra Group chairman Anand Mahindra tweets
Modi to address opening plenary at 3.45 pm (IST)
RECAP: Prime Minister Narendra Modi met Swiss president Alain Berset
Remember, the World Bank too had projected a higher GDP growth for India. Its 2018 Global Economics Prospect (GEP) projects India's GDP growth to pick up to 7.3 percent in 2018-19 and to 7.5 percent for the next two years. Foreigners appear to be more optimistic about India growth story than Indians. Only time will tell whose predictions come true. For now, the IMF forecast is a gift to Modi in Davos.
Read the full analysis here.
Selfie with Elton and Blanchett: Reasons why Shah Rukh is in Davos
Shahrukh Khan was at his wittiest best here today when he asked actress Cate Blanchet for a selfie publicly and immediately quipped that it may leave his children embarrassed, sending the audience into peals of laughter.
Khan is at the World Economic Forum (WEF) summit here to receive the Crystal award along with Blanchett and legendary musician Elton John. Receiving the award, Khan applauded Blanchett — who was honoured with the award just before him -- for being the queen of billions of hearts, including his own.
He talked extensively about his social initiative, which he has named after his father, and the reason for the same. He was presented the award for "his leadership in championing children's and women's rights in India". Earlier in the day, he also posed in his signature open arm style right after reaching Davos.
Khan is the founder of the non-profit Meer Foundation, which provides support to female victims of acid attacks and major burn injuries through medical treatment, legal aid, vocational training, rehabilitation and livelihood support.
Today's Guide at WEF 2018 in Davos
Davos gets underway in earnest on Tuesday with addresses from the leaders of India and Canada, as well as a session on ending sexual harassment.
0830 GMT: Meet the Co-Chairs of the Annual Meeting: Seven women are leading the week’s discussions, from the Prime Minister of Norway to the CEO of IBM.
1015 GMT: Opening Plenary with Narendra Modi, Prime Minister of India: Find out what lies ahead for the world’s fastest growing major economy.
1300 GMT: An Insight, An Idea with Cate Blanchet: The actor and Crystal Award winner will share her thoughts on building a world of solidarity.
1400 GMT: An Insight, An Idea with Shah Rukh Khan: The “King of Bollywood” and Crystal Award winner will talk about women’s empowerment in India.
1430 GMT: Gender, Power and Stemming Sexual Harassment: The Vice-President of Microsoft joins Canada’s Minister of Women and other leaders.
1630 GMT: Special Address by Justin Trudeau: Canada’s Prime Minister will share his thoughts on the role of business and empowering women.
Shah Rukh Khan and Switzerland
WATCH: IMF chief Christine Lagarde in Davos
What will happen to the global economy in 2018? Where will global growth come from? Christine Lagarde, Managing Director of the International Monetary Fund (IMF), is in Davos to discuss the findings of the latest update to the IMF’s World Economic Outlook. "Gobal growth has been accelerating since 2016, and all signs point to a continuing strengthening of this growth", says IMF head Christine Lagarde, as the session gets going.
There is also uncertainty in the year ahead, due to public sector vulnerability and a troubling increase in debt in many countries. "It is when the sun is shining that you want to repair the roof," says Lagarde. Despite the heavy snow in Davos, now is the time for world leaders to fix their roof. She then gives three reasons why.
India remains the world's fastest growing major economy, with a projected growth rate of 7.4 percent, ahead of China at 6.6 percent.
How can life be improved across continent
Ahead of the Annual Meeting, European Ministers of Culture were invited by the President of the Swiss Confederation, Alain Berset, to an informal conference in Davos.
Alongside the President, and Professor Klaus Schwab, the ministers called for a new concept of high-quality Baukultur.
Their discussions focused on how quality of life could be improved across the continent.
India gets shot in the arm by IMF: World body pegs India's growth by 7.4% in next fiscal year
India also got a thumbs up from the International Monetary Fund (IMF) on Monday, which reaffirmed that India's economy is projected to grow by 7.4 per cent in the next fiscal year.
The IMF reaffirmed that India's economy is projected to grow by 7.4 per cent in the next fiscal year, regaining the rank of the world's fastest-growing large economy as China slows down.
Like India's improving economic performance, the global economy was also on the uptick, estimated to have grown by 3.7 per cent last year and forecast to grow this year and the next by 3.9 per cent, according to the Fund's World Economic Outlook Update.
Yoga training sessions at Davos
In a first at the WEF summit, India would also host yoga training sessions for the entire duration of the meeting, while also showcasing Indian heritage and culture.
'Narrating India's growth story and presenting exciting opportunities for global business in India at Davos'
Modi's roundtable with CEOs at Davos
Prime Minister Narendra Modi on Monday held a roundtable meeting with the CEOs of top global companies before his keynote address at the plenary session of the World Economic Forum (WEF) in Davos on Tuesday morning.
India also got a thumbs up from the International Monetary Fund (IMF) on Monday, which reaffirmed that India's economy is projected to grow by 7.4 percent in the next fiscal year.
17:50 (IST)
Union Minister Dr Jitendra Singh says Narendra Modi lived up to expectations of the world community, ANI reports
17:46 (IST)
WEF Centre for Fourth Industrial Revolution proposed in Mumbai: Maharashtra CM Devendra Fadnavis
The next World Economic Forum (WEF) Centre for Fourth Industrial Revolution is being proposed to be set up in Mumbai, Maharashtra Chief Minister Devendra Fadnavis said on Tuesday. Fadnavis made the announcement from Davos.
Read more here
17:43 (IST)
Andhra Pradesh chief minister Chandrababu Naidu says Modi spoke of important geopolitical and environmental issues at Davos
17:41 (IST)
Watch the full speech Prime Minister Narendra Modi gave at the World Economic Forum Plenary Session in Davos here:
17:36 (IST)
"It wasn't the speech of a political leader but that of a statesman, a global leader," Devendra Fadnavis said to ANI about Narendra Modi's speech in Davos
17:33 (IST)
West must share benefits of growth with emerging world, says Raghuram Rajan
Former RBI Governor Raghuram Rajan on Tuesday said the Western world must realise they cannot go a long way without the help of the emerging economies and warned that no one would be able to resolve any problem of a 'fractured world' if things are not set right soon.
Without naming any country, he said the West must realise that their population is ageing and the demand for their products would mostly come from the emerging world.
Speaking in Davos at a session of the World Economic Forum Annual Meeting, Rajan said there is a risk that by the time the West goes to the emerging world for their support, they may have to answer quite a few questions about why they did not share the benefits earlier.
Read more here
17:29 (IST)
"Prime minister has a vision of creating a new India by 2022," Commerce minister Suresh Prabhu says at Davos
17:28 (IST)
Manish Tewari reacts to Narendra Modi's speech at Davos
Congress leader Manish Tewari's tweet refers to Modi's statement in the speech that, "Last time when an Indian PM came here in 1997, India's GDP was around $400 billion, now it has increased more than six times."
17:25 (IST)
India should focus on women's inclusion in economy, says IMF chief Christine Lagarde
IMF chief Christine Lagarde on Tuesday said India must continue with reforms especially in the financial services sector and should urgently focus on broad-based and true inclusion of women in its economy.
Addressing a press conference here as part of the all-women co-chairs of the World Economic Forum (WEF) annual meet, Lagarde said IMF research has shown that raising women's participation in the workforce to the level of men can boost Indian economy by 27 percent.
Read more here
17:18 (IST)
PM Narendra Modi met his Canadian counterpart Justin Trudeau in Davos
17:15 (IST)
Rahul Gandhi hits at Modi right after WEF speech, says Dear PM please tell Davos why 1% Inidans hold wealth of 73% India
17:12 (IST)
17:03 (IST)
Sunil Bharti Mittal says PM addressing WEF matter of great pride
"It was a matter of great pride that our prime minister addressed the WEF like a very tall leader," Mittal told India Today. He said that in is opinion, Modi's speech surpassed China's President Xi Jinping's speech last year. He also added that like the prime minister said, in a fractured world, India can act like a cement to bridge gap.
16:56 (IST)
16:52 (IST)
India believes in a multi-polar world: Narendra Modi
"India stood up for world peace after the two world wars, despite the fact that it did not have any direct stakes in the war. India has sent the most number of UN peacekeeping forces. This is because we have always been willing to help other nations. We believe in a multi-polar world where everyone grows together," Modi said.
16:46 (IST)
Despite being a developing nation, India is cooperating in capacity building in other nations
"India has never had any political or economic ambitions. Despite being a developing nation ourselves, we have helped in capacity building in other nations. We do not exploit other nations' natural resources or infrastructure, but we try to help them in capacity building according to their needs. This has been our policy," Modi said.
16:43 (IST)
16:42 (IST)
Narendra Modi lauds GST, says India using technology to boost transparency
16:40 (IST)
Narendra Modi says people welcome my policies, repeated polls prove that
16:39 (IST)
India has seen tremendous change in last three years: Modi
"India has seen a tremendous change in past three years. Be it the people's decision to give up subsidy to the massive economic reforms," Modi said. He said he has vowed to cut down red tapism and law down a red carpet for global businesses and investors, as he said his government has done away with over 1400 archaic laws.
16:37 (IST)
My govt's motto is 'sabka sath sabka vikas', says Narendra Modi
16:35 (IST)
Globalisation's sheen is fading: Narendra Modi
16:33 (IST)
Forces of protectionism growing strong: Modi
"Protectionist forces are growing stronger as we are becoming increasingly focusing on ourselves," Modi said. Quoting Mahatma Gandhi's philosophy, Modi said, "We welcome the breeze of new cultures in our land, but if the same breeze tries to uproot us, we will resist," Modi said.
16:28 (IST)
All nations are becoming self-centred': Narendra Modi
Even though everyone talks of a more globally connected world, we must admit that the sheen of globalization is fading, Modi said. He said that there has been a visible dip in bilateral agreements, and initiatives for cross-border investment. Cross-border trades are not growing at the pace they should. All nations have become increasingly self-centred," Modi said.
16:23 (IST)
Narendra Modi highlights challenges of climate change
Highlighting the challenges posed by climate change and increasingly extreme weather conditions, Modi said that the increasing erraticism in weather is a threat to the entire mankind. Despite this are we really leaving behind our differences and coming forward to help each other battle this challenge? We must think that whether our greed for development has taken us forward or has it caused our destruction," Modi added. He said he hoped the developed nations will come forward and share technologies for combating this challenge.
16:14 (IST)
One thread connects us all in world, says Modi as he urges for world unity
Invoking the concept of "Vasudhaiv Kutumbakam (World is one family)", Modi said that we are all linked by a single thread. However he said that our differences and disagreements have made our collective struggle against problems of mankind much more difficult. He said there is a vast espanse of challenges that is threatening the mankind. He said we must remember that in the end, we are all connected by one thread and are bound like a family.
16:12 (IST)
Technology can even create barriers and gaps: Modi
“Technology has the ability to bend, break, link. Rapidly changing technology and increase in destructive forces have made earlier challenges even more challenging. What are the reasons for rivalry in the world today. We must work to overcome these differences and bridge these gaps," Modi said.
16:09 (IST)
Future belongs to those who controls data: Modi
“Technology has the ability to bend, break, link and a a very good example is in the use of social media. Today whoever controls data is being seen as the one who can control the future," Modi said.
16:06 (IST)
PM Modi compares India's standing from 1997, when an Indian PM last attended WEF
"Thinking of the time when Sri HD Deve Gowda came here, it already feels like a memory from bygone era," Modi said. He said today after two decades our societies have changed greatly.
"Then, our GDB was a little over $400 Billion, and nobody had heard of Harry Potter, Twitter, or Osama Bin Laden. Tweeting was the job of birds not human beings. Today we are not just a intricately networked society but are heading towards a technology driven transformtion," Modi said.
16:01 (IST)
Great pleasure to be at WEF: Narendra Modi
"I am glad to be a part of the World Economic Forum, and I am grateful for the Swiss people for hosting me," Modi said.
15:58 (IST)
PM Modi about to start his keynote address
15:57 (IST)
Shah Rukh Khan joins plenary session to hear PM Modi ahead of his keynote address
15:55 (IST)
Klaus Schwab introduces PM Modi ahead of his keynote address
15:54 (IST)
Watch: Swiss President's speech promoting social inclusion and warning against rise of nationalism
15:47 (IST)
Swiss President, Alain Berset speaks about return of nationalism and an increasingly divided world
"We face multiple challenges, there is instability in many regions of the world, protracted armed conflict leading to vast displacements and sowing the seeds of terrorism," he said. He added that the good news stories should not blind us, while highlighting that many people thought that the rise of nationalists and divisive forces was a passing phase, but it was not. It is a result of deep-seated resentment and anger among peple. And it can only be improved by social inclusion, he said.
15:43 (IST)
A large crowd at WEF to hear PM Narendra Modi
15:37 (IST)
Prime Minister Narendra Modi takes stage at WEF in Davos
Prime Minister Narendra Modi was welcomed at the WEF in Davos. The prime minister will deliver his keynote speech at 3:45 pm IST and has said he "looks forward to sharing my vision for India's future engagement with the international community".
15:32 (IST)
Prime Minister Narendra Modi met President of Switzerland Alain Berset
15:26 (IST)
Narendra Modi will bat for the liberal democratic order at Davos
Multiple reports emerging out of Davos ahead of the World Economic Forum plenary session suggest that India is the flavor of the season. Be it the big hoardings on 'India means Business', vada-pav stalls or yoga instructors, the global elite is willing to listen to what India has to say. The biggest-ever Indian delegation, led by Prime Minister Narendra Modi, is a subject of keen interest.
The attention on India isn't merely a PR gloss. There's indeed a clash of models playing out in the geopolitical world and India, with its democratic institutions, principles and deference for rules-based regime presents the model that the liberal order desperately hopes will succeed. China presents the other model -- of aggressive growth that expands at the cost of the liberal order. The interest in India therefore is also borne out of an existential crisis that the liberal democratic order is facing right now. Modi has a bigger burden than he possibly believes he has.
15:16 (IST)
Did you know, Davos summit began as a small gathering of European managers in 1971?
Catch some little known facts about the World economic Forum, now termed one of the biggest congregation of global CEOs and world leaders.
15:13 (IST)
Norway's Prime Minister says, 'We need a MeToo campaign to fight corruption'
According to The Guardian, Norway's Prime Minister Erna Solberg said, "We need to see who is taking money, who is bribing others, and show that this is unacceptable in all our societies." She said that a #MeeToo campaign was perhaps needed to root out corruption too. Solberg also said that the illegal finances funded from corruption are channeled to fuel terrorism and security threats, which is making it harder for emerging economies to develop their economies.
15:08 (IST)
Pakistan PM to participate in WEF session titled The Belt & Road Impact
15:07 (IST)
Christine Lagarde says India needs to fix on financial services sector
IMF MD Christine Lagarde said that India should continue with its economic reforms with special focus on financial services sector.
14:59 (IST)
Justin Trudeau reaches in Davos at the WEF summit
14:52 (IST)
Melania Trump to skip Davos summit
In a change of plans, US First Lady Melania Trump will not be joining President Donald Trump at Davos, reported CNN.
14:44 (IST)
Watch: 'Worst in the banking sector is now behind us': SBI Chairman in conversation with CNBC TV18
14:39 (IST)
Tongue firmly in cheek, IMF chief Christine Lagarde captions a picture of the all-women panel in a tweet
14:22 (IST)
This year's WEF led by all-female group of co-chairs
The co-chairs are:
Erna Solberg, Prime Minister of Norway
Chetna Sinha, Founder and Chair, Mann Deshi Foundation
Sharan Burrow, General-Secretary of the International Trade Union Confederation (ITUC)
Fabiola Gianotti, Director-General, European Organisation for Nuclear Research (CERN)
Isabelle Kocher, CEO, Engie Group
Christine Lagarde, MD, IMF
Ginni Rometty, Chairman, President and CEO, IBM Corporation
14:07 (IST)
Global CEOs applauded India's efforts to bring in regime like GST: Devendra Fadnavis
14:02 (IST)
Narendra Modi will aim to raise India's economic and strategic profile
When Prime Minister Narendra Modi opens the inaugural address at the World Economic Forum (WEF) in Davos, he will aim to raise India's economic and strategic profile. Despite a high-single digit growth that has pulled millions and millions out of poverty and a burgeoning middle class, India still suffers from an image problem. The predominant global narrative remains the triumph of hope over experience. Everyone agrees that India is the next big story tomorrow but as they say, tomorrow never comes.
This is exactly what Modi will seek to dispel. Armed with positive data from IMF, World Bank and other ratings agencies, the prime minister will try to show that tomorrow has indeed arrived. India's growth still remains far from inclusive. India actually lags behind Sri Lanka, Bangladesh, Nepal and China even Pakistan in WEF annual inclusive index, but the prime minister will argue that his deep-seated structural reforms are aimed at removing that anomaly. He is also expected to stress on India's demographic dividend and an educated workforce for sustainable growth.