DAVOS REVERBERATES WITH MODI'S VISION FOR A 'GLOBAL' INDIA

Global Center Stage By Manishika Miglani

Worlfeconomic forum

Modi also interacted with top global CEOs at the International Business Council event in Davos and discussed the array of investment opportunities in India with the 64 business leaders.

The annual meeting of the World Economic Forum (WEF) 2018 was held in Davos, Switzerland where Prime Minister Narendra Modi gave the keynote speech at the plenary session and highlighted the existing and emerging challenges to the contemporary international system and global governance architecture. The theme of the week-long session was “Creating a Shared Future in a Fractured World”.

Elaborating on the initiatives taken by his government so far, Modi highlighted Goods and Services Tax (GST), scrapping of unnecessary laws, boosting Foreign Direct Investments (FDI) into the country as some of the reforms implemented under his political leadership since 2014. The Prime Minister also mentioned terrorism and protectionism as the two biggest threats facing the world in the backdrop of globalisation.

During his speech, Modi noted Red Tape as a grave concern hindering the smooth fl ow of business in a country and said that his government abolished some 1,400 archaic laws in response to making the economy more open for investments.

Modi commented on India’s leadership in fighting climate change with the establishment of the International Solar Alliance. The alliance is global grouping of over 121 countries, most of them being sunshine countries, which fall either completely or partly between the Tropic of Cancer and the Tropic of Capricorn. It has been created with a vision to effi ciently exploit solar energy as a way to reduce dependence on fossil fuels.

While addressing the session, Modi noted India’s rapid growth in the renewable energy sector and its success in meeting a large part of its green energy generation targets. "To save the environment and to fi ght climate change, my government has planned a major campaign. By 2022, we want to generate 175 GW of renewable energy. In the last three years, we have already achieved 60 GW or around one-third of this target," he said.

Modi also interacted with top global CEOs at the International Business Council event in Davos and discussed the array of investment opportunities in India with the 64 business leaders.

During the week-long networking event, Modi also held separate bilateral meetings with Prime Minister of Canada Justin Trudeau, Queen Maxima of the Netherlands, President and CEO of Canada Pension Plan Investment Board Mark G.A. Machin, President of the Swiss Confederation H. E. Alain Berset and Prime Minister of Sweden H. E. Stefan Lofven.

Modi became the fi rst Indian Prime Minister to join the world's top leaders for the summit in Davos in 21 years with an objective to showcase India as a fast-growing economic power and a potential driver of global growth. He led a big government and business delegation to the summit which attracted 70 Heads of States and Government from across the globe.

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