"Red Tape Out, Red Carpet In," PM Modi Tells Global CEOs In Davos: 10 Facts

The Indian presence this year in Davos is the largest in the 48-year history of the World Economic Forum. PM Modi is the first prime minister to attend the summit in over two decades.

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Davos 2018: PM Modi on Tuesday delivered keynote speech at World Economic Forum

Davos:  Prime Minister Narendra Modi made his Davos debut to a standing ovation as he entered the Congress Centre to deliver the keynote address at this year's World Economic Forum's opening session. Speaking in Hindi, PM Modi showcased ease of doing business in India to world leaders and global CEOs, also calling for countries to unite to tackle what he called the three big challenges that the world faces - "climate change, terrorism and a threat to globalisation with powers of protectionism rising".
Here is 10-point cheat sheet to Davos 2018:
  1. "Come to India," PM Modi said, "If you want wellness along with wealth, wholeness along with health and peace with prosperity." In India, he said, "democracy, demography and dynamism" are shaping development and growth that is inclusive.
  2. Investing in India, travelling to India and manufacturing in India has become much easier, the Prime Minister said, listing his government's policies, and adding, "We have pledged to end license raj, we are removing red tape and laying out the red carpet."
  3. PM Modi said India is poised to become a 5-trillion-dollar economy by 2025, recalling that the last time an Indian Prime Minister attended the WEF was 21 years ago, and stating, "India's GDP in 1997, when the last PM came to Davos, was a little over 400 billion dollars. It has grown six times since."
  4. The Prime Minister quoted poet Rabindranath Tagore, saying he had written of "a heaven of freedom where the world is not divided by narrow walls" and called for turning that into reality, stating that "India will always be a unifying and harmonising force."
  5. PM Modi said terrorism is dangerous, reiterating that "it is worse when people create an artificial difference between "good' and 'bad' terror. It is painful to see some youngsters getting radicalised."
  6. He also said "India has always believed in values of integration and unity," stating that amid fast moving economic and political changes in the world, "peace, stability and security face new and serious challenges."
  7. "It was a speech of a statesman and a global leader. Three points which the honourable Prime Minister made which should concern the world: global warming, terrorism and protectionism are key pertinent points. On all these points, he could highlight what India is doing and what India has done and what India aspires to do," said Maharashtra chief minister Devendra Fadnavis.
  8. After his address, the PM met his Canadian counterpart Justin Trudeau and Queen Maxima of Netherlands and attended meetings with the International Business Council and the delegation of Indian CEOs before leaving for Zurich for his flight back.
  9. PM Modi landed in Switzerland last evening for a packed 24-hour visit, and a dinner meeting last night, talked about India's growth story and presented investment opportunities to over 40 global industry bosses from 18 countries, including Microsoft's Satya Nadella, Reliance's Mukesh Ambani, Airbus CEO Dirk Hoke.
  10. The PM invited everyone to speak and sought suggestions, responded to each query, addressing each CEO personally, said those who attended. PM Modi said he was "moving from ease of doing business to ease of living", his new focus would be "less conflict with government."


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Highlights

1
PM Modi delivers opening keynote address at World Economic Forum
2
PM Modi is first Indian prime minister to attend Davos summit in 21 years
3
PM Modi was given standing ovation as he arrived at the venue

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