What is Davos World Economic Forum, why it is important for India…

The Prime Minister of India , Narendra Modi, has currently gone to attend the World Economic Forum or Davos Forum in Davos , a small city of Switzerland . Addressing the forum, he called upon investors that India now has a ‘red tape’, rather a ‘red carpet’. Referring to the spirit of ‘Vasudhaiva Kutumbakam’, he described many of the merits of India.

 

Modi is the first Indian Prime Minister to be a part of this conference in the last two decades. Apart from the Indian Prime Minister in Davos 2018, all eyes are also on US President Donald Trump, it is known that Trump is going to be the first US President to participate in Davos Forum.

 

It is clear from this that this year’s Davos is special in many ways. Apart from Modi and Trump, representatives from several countries and big companies are participating in this conference including Theresa May, Angela Merkel, Benjamin Netanyahu. In these circumstances, the eagerness for Davos 2018 has increased in everyone’s mind. In such a situation, let us know about Davos Forum, its importance and the celebrities involved in it.

 

What is Davos Forum?

Davos is actually a small town located in the hills of Switzerland. Situated at an altitude of about 5120 feet, this city has the status of the highest city in Europe. The city is famous for meeting the World Economic Forum and is also known for Switzerland’s largest ski resort.

 

Talking about Davos Forum, it started in the year 1971 by Klaus Schwab as a small conference called European Management Forum. The aim was to introduce poorly performing European companies to American management techniques. With the changing times, in 1987, the European Management Forum took the form of the World Economic Forum, whose official goal is to ‘improve the world standard’.

 

This annual meeting of the World Economic Forum, known as the Davos Forum, meets world economic leaders, including heads of world heads and representatives of large companies. Davos Forum is also known for many informal meetings taking place here. Here world leaders, policy makers and business leaders get a chance to gather in one platform.

 

The agreement between Greece and Turkey at the Davos Forum in 1988 halted the war between these two countries. Also in 1992, the then South African President de Klerk met Nelson Mandela and Chief Mangosuthu Buthleji at this annual meeting, which is considered to be important in South Africa’s political change.

 

India in Davos: Narendra Modi is the first Indian Prime Minister to attend the Davos Forum after 21 years. In 1997, the then Prime Minister HD Deve Gowda attended the Davos Forum. Addressing the people at the Davos Forum, Deve Gowda’s words were, ‘Our eyes are fixed upwards. Our goal regarding India is that in the coming two decades India will be in front of the world as an economic power. ‘

 

Today, after two decades, Deve Gowda’s words have become quite true. A few weeks after joining Davos, then finance minister P Chidambaram made some huge changes in tax rates in India, which was seen as the first step to make India a fast-growing economy in Southeast Asia. In the budget of 1997-98, business heads were motivated to increase investment.

 

From Deve Gowda’s participation in Davos to Modi’s Davos, India’s GDP has grown nearly six times. An important motive of visiting Devgowda’s Davos Forum is also believed to attract foreign investors to India. Modi’s views are also somewhat similar to this.

 

Much has changed since the time of Deve Gowda. Even politically, the Janata Dal government of Deve Gowda was much weaker than Modi’s government with an absolute majority. On the other hand, even if the world did not want to invest in India in the year 1997, the situation has completely changed today. To promote foreign investment, the Modi government has introduced several important policies, in such a situation, India can benefit greatly from the Davos Forum in the field of foreign investment.

 

Who will be included in Davos 2018

Apart from Prime Minister Modi, world leaders like US President Trump, Israeli Prime Minister Netanyahu, German Chancellor Angela Merkel, British Prime Minister Theresa May, French President Emmanuel Macron are going to attend Davos Forum. In addition, heads of international organizations such as UN Secretary General Antonio Guterres, WHO Director-General Tedros Ghebariusus and World Bank Head Jim Yong Kim are among others.

 

Davos Forum will also be attended by CEOs of several big companies including Alibaba founder Jack Ma and JP Morgan’s Jamie Dimon.

 

You can get an idea of ​​the importance of Davos Forum 2018 with the presence of the heads of all the big institutions including the world of world politics and business. By joining the mainstream of the world, Modi’s move towards establishing India with more stability in the world table can be called a good and thoughtful policy.

 

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