Prime Minister Narendra Modi hosted a roundtable meeting with CEOs from across the world in Davos
Davos, Switzerland: Prime Minister Narendra Modi hosted a roundtable meeting with CEOs from across the world in Davos, kicking off India's broadest engagement ever at the World Economic Forum in the snow-covered mountain resort of Switzerland. The Prime Minister narrated "India's growth story and presenting exciting opportunities for global business in India", Foreign Ministry spokesperson Raveesh Kumar tweeted. PM Modi, who will be in Davos for about 24 hours, is the first Indian premier to attend the convention in over two decades.
Here's your 10-point cheatsheet to the WEF meet in Davos:
- Earlier on Monday, PM Modi held extensive talks with Swiss President Alain Berset on deepening of bilateral relations and automatic exchange of tax information. After Prime Minister Narendra Modi's meet with Swiss President Alain Berset, the foreign ministry said in a tweet that the two leaders had a "productive discussions on steps to further deepen our bilateral cooperation".
- Quoting sources, news agency Press Trust of India reported the two leaders also discussed the progress on automatic exchange of tax information. Last year, the Swiss Parliament passed a law after which banks and financial institutions have begun collecting data for the information exchange that is to begin from 2019 - a key process that's expected to flush out black money.
- PM Modi also attended a reception hosted by India at the Congress Center - the main venue of the World Economic Forum. Nearly 1,500 delegates were expected to participate in the reception, which billed India's strides in ease of doing business and the opportunities it offers for prospective investors.
- Participants at the reception got a glimpse of India's rich culture and a taste of Indian cuisine, that included samosa and kachaudi. Huge billboards have been erected atop buildings and even on buses in Davos, promoting India and Indian companies and chai and pakoda are in high demand.
- Nearly 40 global industry bosses from 18 countries, including Airbus CEO Dirk Hoke, Hitachi Chairman Hiroaki Nakanishi and WEF founder Professor Klaus Schwab, and 20 Indian CEOs were expected to attend PM Modi's roundtable with CEOs. Together, the industry titans represent companies that have a cumulative market cap of $3.3 trillion.
- On Tuesday, the Prime Minister will deliver a keynote address at the plenary session of the WEF. PM Modi has said he "looks forward to sharing my vision for India's future engagement with the international community". He will also interact with 120 members of the International Business Council, a group that is part of the WEF and includes top global business leaders.
- The Indian presence this year is the largest in the 48-year history of the WEF. Nearly 130 Indian CEOs are attending the annual event in which over 2,000 business leaders and 70 heads of state and governments will participate. Indian PMs have generally skipped the meet as it usually clashes with India's Republic Day week.
- The Indian delegation, led by industry body Confederation of Indian industry, has top industrialists like Reliance Industries Chairman Mukesh Ambani, Tata Chairman N Chandrasekaran, Adani Group Chairman Gautam Adani, Wipro Chairman Azim Premji, Bajaj Group promoter Rahul Bajaj, ICICI Bank CEO Chanda Kochhar, Kotak Mahindra Bank CEO Uday Kotak and SpiceJet chief Ajay Singh.
- Bollywood star Shah Rukh Khan, actress Cate Blanchett and music legend Elton John were felicitated on Monday at the 24th Annual Crystal Awards. "Power needs a reversal more than anything in the world," Mr Khan said in his acceptance speech. The awards honour "artists who have shown exemplary commitment to improving the state of the world".
- Ahead of the meet, WEF's Inclusive Development Index - an annual measure of countries based on growth and development, inclusion and equity - has ranked India 62nd on a list of 103 countries. China ranks 26th while Pakistan is 47th.
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