News Highlight
The Prime Minister addressed the World Economic Forum (WEF) Davos Agenda via video conferencing.
Key Takeaway
- The WEF annual gathering in Davos (Switzerland) brings together the world’s top leaders to influence global, regional, and sector agendas.
- During Covid-19, India saved many lives by supplying critical medications and vaccinations under its philosophy of “One Earth, One Health.”
- Proposed the “P3 (Pro-Planet-People) movement” to highlight India’s commitments to climate change at the global meeting (UNFCCC COP 26).
- India’s “clean, green, sustainable, and reliable” energy goals, which include achieving a net-zero carbon emission target by 2070, were reiterated.
World Economic Forum (WEF)
- About
- The World Economic Forum (WEF) is a non-profit organisation founded in 1971 in Geneva, Switzerland.
- Additionally, the Swiss authorities recognise it as the international institution for public-private partnership.
- This organisation was formerly known as the European Management Forum.
- The Forum works with the top figures in politics, business, culture, and other spheres of society to define regional, national, and sectoral agendas.
- Furthermore, it cannot make independent decisions.
- Davos meet
- Firstly, the WEF holds an annual meeting at the end of January at Davos, a mountain resort in Graubünden in Switzerland’s eastern Alps.
- The Annual Meeting, commonly known as the Davos Agenda, aims to orient global leaders on the imperatives of the coming year.
India at Davos 2023
- Indian Participation
- Firstly, this year marks the Forum’s36th year of partnership with India.
- India is represented at the summit by a high-level delegation that comprises Union Ministers, Chief Ministers, business executives, and others.
- Focus Area
- India’s focus areas at WEF remained investment opportunities, its infrastructural landscape and its inclusive & sustainable growth story.
- India’s Resilience and Economic Trajectory
- After the Covid-19 crisis, India broke several boundaries and repositioned itself as the world’s fastest-growing economy.
Criticism and defence of the Davos Event
- Spectacle of Rich and Powerful Talking about Poverty and Climate
- The jarring image of the Davos gathering, in which the ultra-rich and powerful fly in on private planes to discuss poverty alleviation and climate action, has been criticised once more.
- Opportunity for Decision-Makers to Meet and Interact
- However, others pointed out that despite its flaws, the conference is an opportunity for many decision-makers to meet and interact with each other.
Some major reports published by WEF
- Energy Transition Index.
- Global Competitiveness Report.
- Global IT Report
- WEF, along with INSEAD and Cornell University, publishes this report.
- Global Gender Gap Report.
- Global Risk Report.
- Global Travel and Tourism Report.
Conclusion
- The World Economic Forum emphasised the critical need for renewable energy and climate change financing.
- Although the event remained focused on business as usual, we can see that the WEF provided a chance for decision-makers to connect and interact.
- Furthermore, over 50 high-impact initiatives were launched at the event.
Pic Courtesy: NDTV
Content Source: Indian Express