Davos Dialogue 2021 : World Economic Forum (WEF)

Why in News ?

Recently, Prime Minister Narendra Modi addressed 51st World Economic Forum's (WEF) Davos Dialogue via video conferencing. He said that 'Fourth Industrial Revolution - using technology for the good of humanity'.

The WEF 2021 is being held virtually from January 26 to January 29 at Davos in Switzerland.

Davos Dialogue 2021 :

• More than 400 top Industry leaders across the globe are attending the session, PM Modi also interacted with the CEO during the events.

• Organized Meeting : In a "twin" format, being both in-person and virtual, connecting key global governmental and business leaders in Davos.

• Theme : "The Great Reset" in the post Covid world -

This initiative due to economic reforms, or climate change or current Pandemic effects on the economies and social fabrics of the world.

• Agenda :

The WEF annual meeting in Davos (Switzerland) to jointly and urgently build the foundations of the global economic and social system for a more fair, sustainable and resilient future.

India's Stands :

• PM Modi said that he brought the message of confidence, positivity and hope from 1.3 billion Indians amidst these times apprehension.

• India's Fight against COVID-19 :

+ India move forward with proactive and pro-participation approach and worked on strengthening the Covid specific health infrastructure and trained resources to fight Covid.

+ Despite the 18% of world population is home of India, India has saved humanity by take care of its citizens and helped other countries through sending medicines (HCQ, Ramdisivir, Paracetamol..) & medicinal equipments (PPE kits, face shield masks..).

• India is helping countries with online training, knowledge of traditional knowledge, vaccines and vaccine infrastructure.

+ Ministry of Aayush launched immunity booster Ayurvedic (traditional medicine) medicine.

+ India has developed two Coronavirus vaccines (Covishield and Covaxin)  and it's also exported to other countries, more vaccine are in pipeline which will enable India to help the world at great scale and speed.

• Indian Economy :

+ India maintain economic activity by starting infrastructure projects worth billions of rupees.

+ Special scheme for creating employment during current pandemic - Atmanirbhar Rojagar Abhiyan.

+ India's ambition of self-reliance will strengthen globalism a new and will help in Industry 4.0.

+ He said, India is working on all the four pillars of Industry 4.0 -

*Connectivity,

*Automation,

*Artificial Intelligence or Machine Learning,

*Real-time Data

+ Currently, National Infrastructure pipeline, worth 1.5 trillion US dollars will be implemented in the country in next five years.

• Digital India during the Pandemic :

+ Growing digital infrastructure has made digital solutions everyday part of life in India.

+ Today, Public service delivery is fast and transparent by digital infrastructure.

+ Great success of JAM trinity (Jan Dhan-Aadhar-Mobile), In which, 1.3 billion Indians Aadhar ID connected to Bank Account and Phone.

+ India could transfer 1.8 trillion rupees worth of assistance through direct benefit transfer (DBT) to the accounts of 760 million Indians during the Pandemic.

+ In December 2020 itself there has been 4 trillion rupees worth of transaction through UPI.

+ India has started a campaign for providing easy access to health care by giving Unique 

Health ID to its citizens, Digi Doctor and so on. It is done by National Digital Health Mission.

• India's Business Friendly Environment :

+ India's Atmanirbhar Bharat movement is committed to global good and global supply chain as India has capacity, capability and reliability to strengthen global supply chain.

                    

                   _Its massive consumer base will further grow and help the global economy.

+ Structural reforms during Corona times have been supported by Production Linked Incentives (PLI) scheme.

+ India offer ease of doing business as there is a predictable and friendly environment from tax regime to FDI norms.

+ Revival and strengthening of MSME sectors through the Atmanirbhar Bharat massive financial package.

Additional Read : Boost MSME by Atmanirbhar Bharat

India and Climate Change :

+ India is dealing with the goals of Paris Accord.

+ Renewable Energy : Renewable Energy Sector in India keep growing despite challenges posed by Covid pandemic. It's boosting by several schemes like NSM, PM-KUSUM, AJAY, etc.

+ India jumped from Bharat Stage-IV (BS-IV) to Bharat Stage-VI (BS-VI) emission norms from 1st April 2020.

+ SAKSHAM awareness Campaign : To convince consumers to switch to cleaner fuels and bring in behavioural change to use fossil fuel intelligently.

+ The schemes for promoting clean energy -UJALA - LED bulbs, Ujwalla - LPG connection, etc.

+ India is focusing on Sustainable Urbanisation with focus on ease of living, ease of doing business and climate sensitive development.

Fact About World Economic Forum (WEF) :

• The WEF is the International Organisation for Public-Private Partnership.

• It was established in 1971 as a not-for-profit foundation.

• It is a Non-government Organisation (NGO).

• Headquarter : Geneva, Switzerland

• Agenda : To engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas.

• Important Annual Reports published by WEF are -

1. Global Competitiveness Report

2. Global Gender Gap Report

3. Energy Transition Index

4. Global Travel and Tourism Report

5. Global Risk Report

The organisation believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

Also Read : 15th G20 Summit 2020

References

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