{"id":170,"date":"2020-03-28T15:06:09","date_gmt":"2020-03-28T15:06:09","guid":{"rendered":"https:\/\/www.competitionreview.in\/blogs\/?p=170"},"modified":"2020-03-28T15:06:09","modified_gmt":"2020-03-28T15:06:09","slug":"indian-economy","status":"publish","type":"post","link":"https:\/\/www.competitionreview.in\/blogs\/2020\/03\/28\/indian-economy\/","title":{"rendered":"INDIAN ECONOMY"},"content":{"rendered":"\n

India Peddles Its Economic Potential,
\u2018Vision 2024\u2019 At WEF Davos Summit 2020 <\/strong><\/p>\n\n\n\n

India showcased its immense economic potential\nand the vision for a $5 trillion economy by 2024 at the mega World Economic\nForum (WEF) Summit at Davos at the Swiss ski resort of Davos (Switzerland) from\nJanuary 21 to 24, 2020. Nearly 3,000 participants from 117 countries, including\n53 heads of state and other top leaders from politics, business, civil\nsociety, academia and media, participated in this 50th Annual Meeting of the\nWEF. The theme of the meeting was \u201cStakeholders for a Cohesive and Sustainable\nWorld.\u201d <\/p>\n\n\n\n

The Indian delegation at the Davos Summit was\nled by Union Minister for Commerce and Industry Mr. Piyush Goyal. The\ndelegation included over 100 CEOs, Union Ministers and Chief Ministers besides\nBollywood actress Deepika Padukone and spiritual Guru Sadhguru, who held\nmorning meditation sessions at the summit.<\/p>\n\n\n\n

Speaking at a session \u2018Strategic Outlook:\nIndia<\/em>\u2019 at the WEF Summit, Mr. Piyush Goyal asserted that Indian economy is\nwell-poised to take off and there is a lot of enthusiasm for making investments\nin the country. He also said Indian Government will hold discussions with\nBritain and European Union on Free Trade Agreements. On the\nAsia-Pacific-oriented Regional Comprehensive Economic Partnership (RCEP), Mr.\nGoyal said it was an \u201cunbalanced trade agreement, which was really not\nfulfilling the guiding principles on which RCEP started about eight years ago,\ntherefore India chose not to participate in it\u201d.<\/p>\n\n\n\n

Though India has been participating in WEF\nSummits, the turning point came in 2018 when Prime Minister Mr. Narendra\nModi showcased a \u2018New India\u2019 and the opportunities available to global\ninvestors at the WEF. In the context of the government\u2019s efforts to fast-track\neconomic development, the world has begun to take cognizance of the fact that\nIndia will be a force to reckon with in the 21st century. India has gone beyond\nDavos to discuss issues that concern the global community. India has engaged at\nall levels on the issue of climate change, reiterating its support for the\nParis Climate Agreement.<\/p>\n\n\n\n

India has contributed to all the six core areas\nof activity that the Davos Summit focussed on, through which stakeholders can\nadvance the mission of creating a more cohesive and sustainable world. These\ncore areas were Ecology, Economy, Society, Industry, Technology and\nGeopolitics. The summit focussed on establishing stakeholder capitalism as a\nway of addressing the world\u2019s greatest challenges, from societal divisions\ncreated by income inequality and political polarisation to the climate crisis. <\/p>\n\n\n\n

To coincide with its 50th anniversary, the WEF\nalso launched a new Davos Manifesto (that builds on original manifesto of\n1973), which is a set of ethical principles to guide companies in the age of\nthe Fourth Industrial Revolution. Companies, the new manifesto said, must pay\ntheir fair share of taxes; treat suppliers and workers well; accept fair\ncompetition; and have \u201czero tolerance for corruption.\u201d<\/p>\n\n\n\n

Woke capitalism, in short, was the dominant\nmotif at Davos 2020. Among the initiatives launched at the Davos Summit included\nplanting one trillion trees over the next decade and to equip one billion\npeople with the necessary skills in the age of the Fourth Industrial\nRevolution.\n\nAnother major highlight of the summit was WEF\u2019s 15th \u2018Global Risks\nReport,\u2019 which, for the first time in its history, said that all of the\n\u201ctop long-term risks by likelihood\u201d are environmental.\n\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"

India Peddles Its Economic Potential, \u2018Vision 2024\u2019 At WEF Davos Summit 2020 India showcased its immense economic potential and the vision for a $5 trillion economy by 2024 at the mega World Economic Forum (WEF) Summit at Davos at the Swiss ski resort of Davos (Switzerland) from January 21 to 24, 2020. Nearly 3,000 participants […]<\/p>\n","protected":false},"author":1,"featured_media":171,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"_links":{"self":[{"href":"https:\/\/www.competitionreview.in\/blogs\/wp-json\/wp\/v2\/posts\/170"}],"collection":[{"href":"https:\/\/www.competitionreview.in\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.competitionreview.in\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.competitionreview.in\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.competitionreview.in\/blogs\/wp-json\/wp\/v2\/comments?post=170"}],"version-history":[{"count":1,"href":"https:\/\/www.competitionreview.in\/blogs\/wp-json\/wp\/v2\/posts\/170\/revisions"}],"predecessor-version":[{"id":172,"href":"https:\/\/www.competitionreview.in\/blogs\/wp-json\/wp\/v2\/posts\/170\/revisions\/172"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.competitionreview.in\/blogs\/wp-json\/wp\/v2\/media\/171"}],"wp:attachment":[{"href":"https:\/\/www.competitionreview.in\/blogs\/wp-json\/wp\/v2\/media?parent=170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.competitionreview.in\/blogs\/wp-json\/wp\/v2\/categories?post=170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.competitionreview.in\/blogs\/wp-json\/wp\/v2\/tags?post=170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}