{"id":33245,"date":"2023-01-19T11:23:06","date_gmt":"2023-01-19T05:53:06","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=33245"},"modified":"2025-04-19T20:32:57","modified_gmt":"2025-04-19T15:02:57","slug":"world-economic-forum-annual-meeting-2023","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/world-economic-forum-annual-meeting-2023\/","title":{"rendered":"World Economic Forum Annual Meeting 2023"},"content":{"rendered":"<h2><strong>What\u2019s in today\u2019s article?<\/strong><\/h2>\n<ul>\n<li><strong>Why in news?<\/strong><\/li>\n<li><strong>What is World Economic Forum?<\/strong><\/li>\n<li><strong>What is Davos Meet?<\/strong><\/li>\n<li><strong>What are the different reports published by WEF?<\/strong><\/li>\n<li><strong>New Summary: World Economic Forum Annual Meeting 2023<\/strong><\/li>\n<li><strong>India\u2019s participation at WEF Annual Meeting 2023<\/strong><\/li>\n<li><strong>Key highlights of the speech delivered by Union Minister Ashwini Vaishnav<\/strong><\/li>\n<li><strong>India@100: Realising the potential of a $26 trillion economy<\/strong><\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>Why in news?<\/strong><\/h2>\n<ul>\n<li>Recently, Union minister Ashwini Vaishnaw addressed a session on India\u2019s road to a $10-trillion economy at the World Economic Forum (WEF) in Davos.<\/li>\n<li>The annual meeting of WEF is taking place in Davos from Jan. 16 until Jan. 20, 2023.<\/li>\n<li>The theme of this year\u2019s summit is \u201c<strong>Cooperation in a Fragmented World<\/strong>\u201d.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>What is World Economic Forum?<\/strong><\/h2>\n<ul>\n<li>The World Economic Forum is the international non-governmental organization for Public-Private Cooperation.\n<ul>\n<li>It was founded in January 1971 by German engineer and economist Klaus Schwab.<\/li>\n<\/ul>\n<\/li>\n<li>The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas.\n<ul>\n<li>It has no independent decision-making power.<\/li>\n<\/ul>\n<\/li>\n<li><strong>HQ<\/strong>: Cologny-Geneva, Switzerland.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>What is Davos meet<\/strong>?<\/h2>\n<ul>\n<li>Annually, the WEF organizes a meeting at the end of January in Davos, a mountain resort in Graub\u00fcnden, in the eastern Alps region of Switzerland.<\/li>\n<li>The Annual Meeting, also known as the Davos Agenda, has the objective of orienting global leaders on the imperatives of the year ahead.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>What are the different reports published<\/strong> <strong>by WEF?<\/strong><\/h2>\n<ul>\n<li>WEF also produces a series of annual reports such as \u2013\n<ul>\n<li>Global Competitiveness Report,<\/li>\n<li>Global Information Technology Report,<\/li>\n<li>Global Gender Gap Report,<\/li>\n<li>Global Risks Report,<\/li>\n<li>Global Travel and Tourism Report,<\/li>\n<li>Financial Development Report and<\/li>\n<li>Global Enabling Trade Report.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>New Summary:<\/strong> <strong>World Economic Forum Annual Meeting 2023<\/strong><\/h2>\n<ul>\n<li>The 53rd edition of the annual World Economic Forum summit is being held at the Swiss town of Davos.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>India\u2019s participation at WEF Annual Meeting 2023<\/strong><\/h2>\n<ul>\n<li>This year marks 36 years of the Forum\u2019s collaboration with India.<\/li>\n<li>At the summit, India is represented by a high-level delegation which includes Union Ministers, Chief Ministers, Business leaders etc.<\/li>\n<li>In line with this year\u2019s WEF theme, \u201cCooperation in a Fragmented World\u201d, India has reiterated its position as a resilient economy with a strong leadership providing stable policy to the global investors at the summit.<\/li>\n<li>India\u2019s focus areas at WEF this year are investment opportunities, infrastructural landscape and its inclusive &amp; sustainable growth story.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>Key highlights of the speech delivered by Union Minister Ashwini Vaishnav<\/strong><\/h2>\n<ul>\n<li><strong>\u00a0India\u2019s pragmatic approach ensured high growth, moderate inflation<\/strong>\n<ul>\n<li>India took a pragmatic approach in dealing with humanitarian and economic crises triggered by the pandemic and has ensured moderate inflation and high growth in the country.<\/li>\n<li>Indian government focused on vulnerable population for financial aid, free food and free vaccines and all that was done on digital platforms.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>India\u2019s recent economic performance<\/strong><\/h2>\n<ul>\n<li>India witnessed the highest ever inflow of Foreign Direct Investment worth $84 Bn during 2021-2022.\n<ul>\n<li>This FDI came into 57 sectors, from 101 countries and across 30 states and UTs.<\/li>\n<\/ul>\n<\/li>\n<li>Real GDP Growth across FY21-22 was an unprecedented 8.7% and absolute GDP value in FY21-22 reached $3.1 Tn.\n<ul>\n<li>Recent estimates point towards a $5 Tn economy by 2025.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>India on a consistent growth path<\/strong><\/h2>\n<ul>\n<li>Despite the global turmoil, over the last few years, India is following a consistent growth path of 6-8%.<\/li>\n<li>The focus to invest in infrastructure has helped improve productivity and job generation.<\/li>\n<li>Due focus on moderating inflation and appropriate fiscal and monetary policy measures will help ensure India\u2019s GDP momentum in the next 10 years.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>India@100: Realising the potential of a $26 trillion economy<\/strong><\/h2>\n<p><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/GHlnT5Hcivdqy7GZSegU9fneM6hZ9pClOCGU7iifATEbrWYpxntPiSXVwZV3Jr-4aWsSzQaVdXSlpiV_jF0pE6hLnv4i1cCDaOWo10mLbjnPxDp5JN7d2HmBpxfEQ7DV5DxDRXay2145x3cK284J6w\" alt=\"\" \/><\/p>\n<p><strong>Image caption: Statement of CEO of EY on India<\/strong><\/p>\n<ul>\n<li>The report, \u2018India@100: Realising the potential of a $26 trillion economy\u2019, was launched by the Union Minister Ashwini Vaishnaw, on the sidelines of the summit.\n<ul>\n<li>The report has been prepared by the consulting firm EY<\/li>\n<\/ul>\n<\/li>\n<li>As per this report, <strong>India\u2019s economy will reach $26 trillion by 2047<\/strong>, the 100th year of the country\u2019s independence.<\/li>\n<li><strong>Other highlights of this report<\/strong>\n<ul>\n<li>The report underscores the growth trajectory of the Indian economy, that is projected to be the highest for any large economy over the coming decades.<\/li>\n<li>It recommends ensuring macro-economic stability and resilience, and continued thrust on reforms.\u00a0\n<ul>\n<li>This will be especially relevant against the backdrop of on-going geo-political conflict, inflationary pressures and slowing global growth.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3><strong>Q1)<\/strong>\u00a0<strong>Which city hosts the annual Summit of the World Economic Forum?<\/strong><\/h3>\n<p>\u00a0The World Economic Forum summit is held annually at Davos, Switzerland. The town is located on the lap of the Swiss Alps.<\/p>\n<p>&nbsp;<\/p>\n<h3><strong>Q2)<\/strong><strong>\u00a0Who are the partners of WEF?<\/strong><\/h3>\n<p>\u00a0The WEF is largely funded by its partnering corporations. These are generally global enterprises with annual turnover greater than $ 5 billion. For these corporations, the WEF provides a platform \u201cto shape the future, accessing networks and experts to ensure strategic decision-making on the most pressing world issues.\u201d<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><strong>Source:\u00a0<\/strong><a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/ensured-high-growth-moderate-inflation-says-union-minister-ashwini-vaishnaw\/articleshowprint\/97112137.cms\" target=\"_blank\" rel=\"nofollow noopener\"><u>Ensured high growth, moderate inflation, says Union minister Ashwini Vaishnaw<\/u><\/a>\u00a0|\u00a0<a href=\"https:\/\/pib.gov.in\/PressReleaseIframePage.aspx?PRID=1892041\" target=\"_blank\" rel=\"nofollow noopener\"><u>PIB<\/u><\/a>\u00a0|\u00a0<a href=\"https:\/\/www.investindia.gov.in\/davos\/lounge\" target=\"_blank\" rel=\"nofollow noopener\"><u>Invest India<\/u><\/a>\u00a0|\u00a0<a href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2023\" target=\"_blank\" rel=\"nofollow noopener\"><u>World Economic Forum<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Founded by economist Klaus Schwab, World Economic Forum is a non-governmental lobbying organization.<\/p>\n","protected":false},"author":5,"featured_media":33246,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[],"class_list":{"0":"post-33245","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-mains-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/33245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=33245"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/33245\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/33246"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=33245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=33245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=33245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}