Narendra Modi – India Prime Minister (PM) traveled to Davos in the Alpine region to attend the 48th annual World Economic Forum (WEF) that is set to begin on Tuesday 23 January 2018. The PM is accompanied by Arun Jaitley – India’s Finance Minister and Suresh Prabhu – Commerce and Industry Minister among others. His visit marks a first in two decades since a PM from India attended the WEF. The last meeting was attended by HD Deve Gowda.
The WEF is a nonprofit foundation based in Switzerland whose main objective is improving the state of the world by engaging political, academic, business and other leaders to shape global, regional and industry agendas. India is a formidable partner in commerce and industry with most of its citizens at the top of major business corporations.
The agenda of India’s participation through Narendra Modi’s visit is to sell a ‘New India.’ Before his keynote address on the opening day of the forum on Tuesday, the PM will host a private dinner with about 125 special invitees at a plenary session which will happen in the evening. The dinner’s objective is to brief the attendees on India’s government initiatives geared towards liberalizing foreign investment better captured by the phrase “replacing red tape with red carpet.” In focus are the new opportunities in manufacturing, healthcare, renewable energy, infrastructure, and commerce.
A day before his travel, the PM reiterated that he would share his vision for the country’s future dealings with the international community. He added that he seeks to have more serious attention from other world leaders on emerging and existing challenges facing the global system.
On Tuesday, Narendra Modi will hold bilateral talks with Alain Berset – President of Swiss Confederation then hold a series of meetings with business leaders followed by a meeting with International Business Council which comprises around 120 senior global leaders. He is also to meet with a wider group of Indian business leaders. After the meetings, he is set to leave his six cabinet colleagues to relegate New India’s agenda to the international community.
Deduced from the schedule, India has two main agendas in Davos; to pitch new business and investment opportunities in the bilateral meetings they are expected to hold and India’s pivotal role to this year’s WEF theme; “Creating a Shared Future in a Fractured World.”
India seeks a larger piece of the pie in regards to Foreign Direct Investments.
Some of the big CEOs are expected to attend the private dinner to be hosted by Narendra Modi. They comprise Microsoft’s Satya Nadella, Sultan Ahmed bin Sulayem from DP World, Alibaba’s Jack Ma, Pepsi’s Indra Nooyi and Ginni Rometty – WEF co-chair among others.
The International Business Council meeting will comprise of about 120 senior global leaders. In attendance will be CEO’s from Walmart, Uber, and Pfizer among others.
