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India's Lounge At The World Economic Forum: Davos 2023

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India's Lounge At The World Economic Forum: Davos 2023
17 Jan 2023
5 min read

News Synopsis

The world's most renowned political, business, youth, academic, and civil society leaders have gathered for the World Economic Forum's Annual Meeting in Davos. The platform aims to address pressing issues related to the economic crisis, as well as the looming energy and food crises while establishing the foundation for a more resilient and sustainable global community.

For all international investors looking to settle in India, one of the world's most liberal investment destinations, Department for Promotion of Industry and Internal Trade (DPIIT) has strengthened India's presence at this year's WEF in Davos in celebration of the country's "Azadi ka Amrit Mahotsav," 75 years of independence, and assumption of our G20 Presidency. The goal is to project India as a strong, resilient economy that solves problems on a global scale while showcasing a consolidated Indian presence with the Center & States.

Strong structural reforms have improved India's macroeconomic stability and elevated the nation as a desirable location for foreign investment. Over the past several years, the Indian government has implemented numerous regulatory changes to expedite the grounding of foreign investments in various industries. Due to these initiatives, India saw the highest-ever inflow of foreign direct investment in the years 2021–2022, totaling $84 Bn. This FDI was distributed among 30 states and UTs, 101 countries, and 57 sectors.

Absolute GDP value in FY21-22 reached $3.1 Tn, while real GDP growth across FY21-22 was an unheard-of 8.7%. According to the latest projections, the economy will be worth $5 Tn by 2025.

India's aggregate demand conditions have remained stable despite global challenges because of easier access to bank credit as well as persistent consumer and business optimism, which supports India's economic resilience.

To boost India's position as a significant stakeholder influencing the global narrative, a senior State Government representative will attend WEF 2023 along with a high-level delegation from the Indian side.

Additionally, this year celebrates 36 years of cooperation between the Forum and India. The WEF Annual Meeting, with the topic "Cooperation in a Fragmented World," would give leaders from all spheres of society a forum to confront the status of the world, talk about the year's top issues, and contribute to finding answers through collaborative public-private action.

In order to discuss policy action and investment support in renewable energy, sustainability, infrastructure, healthcare, and medical devices, startups, trade and logistics, technology, institutional investments, and other topics, Invest India has organized a number of roundtable discussions, panel discussions, and fireside chats over the course of five days.