World Economic Forum 2013


The picturesque town of Davos, Switzerland hosted the World Economic Forum (World’s biggest focus group), last month.

In its 43rd year, the Swiss mountain resort of Davos invited nearly 40 Heads of the States, many of the world’s most influential bankers and top multinational corporation heads.

World Economic Forum (WEF),  is a non- profit foundation based in Geneva. It is committed to engaging leaders of the world  to shape the global and the local agendas.

Though the five day event does not deliver any concrete results, it articulates the pressing concerns of today’s time. Apart from that it also gives these leaders a stage to raise the economic concerns and indulge in cross-country debates.

The theme of the 43rd World Economic Forum Annual Meeting was “Resilient Dynamism.” The leaders talked about the various problems and threats that the world economy faced and how it has been a resilient force during tough times.

The main topics of discussion were the Euro zone and the popular protests against capitalism across the globe. And Occupy Wall Street and its siblings and the failing business confidence were some other topics that formed the crux of the discussions.

However, the best Davos moments are on the sidelines where 2500 business leaders, politicians and think tanks, interact and seal deals.

Its not surprising that sometimes many high powered people don’t even attend a single session as they have back to back meetings with potential business partners and politicians. Because it is here that you have all the big industry czars under one roof.

Davos has become adept to provide global social environmental agenda to balance off its business role. The high life, food and fine wine flow freely as business deals are cracked. The various heads of the state and financial heads of developing countries like Philippines, Malaysia, Finland, and South Africa were there to find their moments of glory and boost investor’s sentiments towards their countries.

Even many Indian corporate bigwigs show up to sell India Inc.’s growth story. However, this year it’s been a bit tough.

Because the Indian growth story seems to have run into policy tangles and convincing others has been difficult. Various industry czars like Asim Premji, Rahul Bajaj, and Chanda Kochhar have blamed it on the disruptive role of opposition and the silent role of the government. Our commerce minister Anand Sharma met global companies like Tesco, Diego, Standar Charter and many more.

Among the other International visitors were British Prime Minister, David Cameron, WTO Chief, Pascal Lamy, and IMF Chief, Christine Lagarde.

When Christine Lagarde the IMF Chief addressed the WEF, she said that the year 2013-2014 will be the make or break year for the economy as it shows hopes of reviving. She also dedicated a few words to the Indian daughter (the recent Indian rape case victim) and Malala Yousafzai (known for education and women rights activities) and demanded for gender equality policies.

World economy is going through a transitional phase and the policies across the world will make or break it. So lets just wait and watch how this economic year is going to turn out.

Smriti Sudish

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