Modi to showcase fast growing Indian economy at World Economic Forum

Indians Are Worse Off Under Modi; Gallup Poll

“At Davos, I look forward to sharing my vision for India’s future engagement with the international community,” Modi Tweets ahead of visit

Indian Prime Minister Narendra Modi is in Davos, Switzerland to address global business and political leaders, as India passes France and the U.K. to become the world’s fifth-largest economy, underscoring the South Asian nation’s drive for recognition as a great power. Some economists calculate that India’s gross domestic product jumped into the top five last quarter as it continued to outgrow every country in Europe—and for that matter most of the rest of the world. Prime Minister Narendra Modi began his two-day visit to Switzerland for the annual World Economic Forum meet in Davos on Monday, January 22nd, 2018.

Over 3,000 world leaders from business, politics, art, academia and civil society will attend the 48th World Economic Forum annual meeting over the next five days in the small ski resort town on snow-covered Alps mountains.

This week Modi joins other world leaders in setting the vision and the agenda for the global economy.  That’s a great honor for India and Modi. But before setting the agenda for the world economy, he must set the agenda at home.

PM Modi is expected to highlight the spirit and aspirations of a young, innovative and new India. PM Modi’s visit to Davos for the World Economic Forum or WEF will be the first visit by an Indian prime minister since the earlier one by Deve Gowda in 1997. Typically, India sends its finance minister accompanied by top bureaucrats with power point presentations to outline country’s economic policy vision. This year Narendra Modi, unsurprisingly, wanted to deviate from the trend. The PM is leading India’s largest-ever delegation (129) and the fourth largest among all countries to Davos.

Narendra Modi’s address to leaders from across the world, when India is putting up a grand show and ‘welcome reception’ which will see, among other things, several cultural performances and a ballet performance. India is showcasing its diversity from culture and art to lifestyle and food. Attendees are in for a treat of the flavors of India with the country’s exquisite Indian cuisine. There are also q  live Yoga session which demonstrates India’s ancient Yoga heritage.

Prime Minister Modi delivers the keynote speech at the plenary session of the World Economic Forum in Davos-Klosters, Switzerland. Prime Minister Narendra Modi is expected to pitch India as a growth engine for the global economy. He will also have a bilateral meeting with Alain Berset, President of the Swiss Confederation. The theme for this year’s World Economic Forum is “Creating a Shared Future in a Fractured World.”

Signalling India’s engagement with the rest of the world in a multi-dimensional way, the snow-resort is decked up to attract investors to India.Even as the Indian delegation is arriving,the Indian Premier has every reason to smile in the glow of the International Monetary Fund’s projection that India could emerge as the fastest-growing country in the world in 2018 at 7.4 per cent, leaving China behind at 6.6 per cent.

In its global growth prospects survey, released on the eve of Prime Minister Narendra Modi’s address to a global audience here, the IMF said that India could grow at 7.8% in 2019. For the Indian delegation, the numbers came as an endorsement of the assessment that India is on track to shake off the disruptive effects of the note ban in 2016 and the glitches in implementation of the GST last year.

The numbers are expected to bolster the case of the government, which is seeking to engage further with global investors to showcase the country’s investment potential and ease of doing business. They also follow the recent improvement in India’s rankings, up to 100 on the pecking order, by the World Bank.

India Ranks Below China, Pakistan On WEF Inclusive Development Index

India was today ranked at the 62nd place among emerging economies on an Inclusive Development Index, much below China’s 26th position and Pakistan’s 47th. Norway remains the world’s most inclusive advanced economy, while Lithuania again tops the list of emerging economies, the World Economic Forum (WEF) said while releasing the yearly index here before the start of its annual meeting, to be attended by several world leaders including Prime Minister Narendra Modi and US President Donald Trump.

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