WEF: India Showcases Economic Resilience
Davos Diary

26 Jan,2013 02:45 IST

WEF: India Showcases Economic Resilience

Ministers and business leaders are presenting India as an attractive investment destination to global investors amid economic uncertainties across the world

The presence of India at WEF annual meet — the second biggest delegation after the US — has grown stronger with the arrival of corporate titans Mukesh Ambani and Kumar Mangalam Birla besides Union Minister Jyotiraditya Scindia.

Showcasing the country's economic resilience, ministers and business leaders are presenting India as an attractive investment destination to global investors amid economic uncertainties across the world.

About 150 CEOs and business heads of Indian companies, along with four Union Ministers, are rubbing shoulders with the world economy's movers and shakers in this snowy town.

Besides, Indian origin corporate titans like Pepsico's Indra Nooyi are also present. Nooyi was seen visiting India Adda, an annual feature of WEF meet here that offers a meeting ground for discussing various business opportunities in the country over delicious Indian delicacies.

Apex industry body CII's Director General Chandrajit Banerjee, who has been attending WEF event for many years, said India story is very strong.

The Indian government delegation, led by Urban Development Minister Kamal Nath, includes Commerce and Industry Minister Anand Sharma, Heavy Industries Minister Praful Patel, besides Power Minister Scindia.

Banerjee said the impact of recent reforms in India can be seen in a very confident Indian contingent that has come here, while positivity is also there about the country among the foreign investors.

"The foreign companies are very much interested in what is happening in India and they are definitely getting the right vibes here from the Indians present here," he added.

The top Indian business leaders present here from Day One include Anand Mahindra, Adi Godrej, Azim Premji and Rahul Bajaj.

Power Minister Scindia said that India would emerge as a stronger economic force in the next one year on the back of continuing reforms.

"In the current environment, where the world economy is coming out of a downturn, India is still very much one of the shining stars on a global perspective," Scindia told PTI here.

Industry leaders like Sunil Mittal and Rajan Mittal, as also almost the entire leadership team of IT giants like TCS, Infosys, HCL and Tech Mahindra- Mahindra Satyam are also here.

More than 2,500 people, including government heads, are participating in the 43rd WEF annual meet whose theme is 'Resilient Dynamism'.

"I can see that there is enthusiasm, there is express desire to engage more with India and invest in India, by believing in the commitment in India and in economic reforms and liberalisation and also to create a regime that is friendly to investors," Commerce and Industry Minister Sharma said.

In recent times, India has initiated a slew of reforms including FDI reforms in retail and aviation sectors.

Yesterday, Urban Development Minister Kamal Nath had said that India today represents an aspirational class of society.


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