In line with this year’s WEF theme, “Cooperation in a Fragmented World”, India has reiterated its position as a resilient economy with a strong leadership providing stable policy to the global investors at the World Economic Forum (WEF) at Davos.
India’s focus areas at WEF this year are investment opportunities, infrastructural landscape and its inclusive & sustainable growth story.
India’s presence at WEF-2023 marked through three lounges with focus on investment opportunity, sustainability and inclusive approach to compliment economic growth.
1. India Lounge
The India lounge is the focal point of all business engagements taking place on the side-lines of the World Economic Forum Annual Meeting 2023. In line with the Government of India’s priorities, the India Lounge has organized sessions, roundtables & fireside chats on India’s growth wave, energy transition, the transforming infrastructure landscape, rising digitalization, fintech, healthcare, electronic & semiconductor supply chain & startup ecosystem.
There is a digital showcase of key manufacturing sectors, Startups, India’s G20 presidency and India’s focus on infrastructure. Complementing this, the lounge has curated authentic Indian One District One Product (ODOP) souvenirs along with Indian food showcasing India’s heritage and culture.
2. India Inclusivity Lounge
The Inclusivity lounge at Promenade 63 at World Economic Forum redefines the Davos narrative with the vision of India for inclusivity. Traditionally only select few big businesses were present at Davos. In 2023, India at Davos has a special lounge that represents the voice of the smaller enterprises, individual artisans, women self-help groups, specially abled etc. The lounge showcases hand-made products that represent years of rich Indian heritage and cultural history and generations of craftsmanship.
The products represent all States and Union Territories of India, ranging from coconut cutlery from Andaman to Khurja pottery from Uttar Pradesh. They span across all sectors from textiles to handicrafts to social empowerment. The products are showcased not only physically but also using interactive methods though immersive technologies. The Augmented Reality models allow any person, anywhere in the world to see what an Indian-made product looks like at their home, on their console. The exact coordinates of latitude and longitude of the production site are also captured.
3. India Sustainability Lounge
Through this lounge, India is showcasing new and emerging technologies that are set to address the climate change issues faced round the world. It also shows leadership in combating climate change and meeting the Sustainable Developmental Goals (SDGs), as is reflected in many of its developmental schemes. India is showcasing these technologies through five broad themes: energy sector, natural resource management, sustainable infrastructure and mobility, food and nutritional security, and circular economy.
In addition, the presence of State lounges of Maharashtra, Tamil Nadu and Telangana along with business lounges of HCL, Wipro, Infosys and TCS have added strength to India’s presence on the Davos promenade. The entire India contingent of the central government, state government, businesses and officials have put together a common front to present India at the global state.
India’s Minister for Health and Family Welfare addressed the roundtable discussion on “Opportunities in R&D and Innovation in Life Sciences
- He reiterated commitment to promoting Indian Life Sciences as a globally competitive sector to ensure the availability, accessibility, and affordability of drugs and medical devices in domestic and global markets.
- India is taking concerted and coordinated efforts on R&D and Innovation in the Pharma-MedTech Sector to indigenously develop cutting-edge products and technologies.
- The government is promoting an enabling ecosystem for innovation in the Pharma-MedTech sector to become a leader in drug discovery and innovative medical device.
World Economic Forum Annual Meeting for this year 2023 commenced on 16th January and is currently underway and will conclude on 20th January 2023.
The World Economic Forum is the International Organization for Public-Private Cooperation. Established in 1971 as a not-for-profit foundation, it engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. It is independent, impartial and not tied to any special interests.
It is headquartered in Geneva, Switzerland.