'The Indian story is yet to be told'
Ahead of the summit, W Lee Howell spells out his priorities as head of WEF in India.
By ECONOMICTIMES.COM EXCLUSIVE/MANIKA GUPTA, INDIATIMES NEWS NETWORK |
W.Lee Howell, who is in his second tenure at the World Economic Forum, is heading the WEF meet in India for the first time. The half-Japanese-and- half-American Howell has taken over from Colette Mathur, who is now a senior advisor to the managing board at the WEF. Lee rejoined the World Economic Forum on February 2004, as Director and Head of Asia.
Lee and his team are responsible for the Forum’s engagement of government, business and academic institutions in Asia; a geographic span extending from Japan to Afghanistan. He has been responsible for organising the Forum’s annual activities in the region such as the World Economic Forum on East Asia and China Business Summit.
Lee has worn several hats. In his prior tenure with the Forum, he was responsible for the editorial focus and intellectual content of the Forum's 31st annual meeting and managed its historic move from Davos to Manhattan in the wake of 9/11. He returns to Geneva after serving as a Senior Policy Advisor for the United States Agency for International Development (USAID) from 2002-04. He is also an Adjunct Fellow at the New America Foundation and Pacific Forum/CSIS and a member of the Advisory Board of the CSIS Global Strategy Institute.
In an exclusive interview with the Economictimes.com, Lee spelt out his priorities as the head of WEF (India) two days ahead of the summit.
Do these forum meetings really contribute substantially towards anything? There is a perception that these forums are just a large jamboree?
I don’t agree. These are very important forums, where people network and influence policy towards the direction to be taken. These forums facilitate the gathering of all the stakeholders including the politicians, where they identify the issues and the obstacles. In fact, it provides a platform for sharing an agenda for business. Otherwise, amongst businesses, it is mostly a competitive agenda. I think, it provides an environment for informed decisions as well.
What is the perception of India and its businesses today globally and what baggage do you come with to India?
World is flat. With increasing globalisation, the countries cannot afford to ignore the World’s largest Democracy. I came in with my baggage, my work has largely with the Asean countries. India is intriguing—a developing economy which has global reach. It is a dual economy. On the one side, India is very sophisticated, on the other side, it has a huge potential to develop. It has elements that you don’t find in many places. India’s model is a unique one, a story yet to be told.
There is a huge shift in perception. But equitable development is still a dream and to me the challenge for India is to convert this challenge into an opportunity.
Lee and his team are responsible for the Forum’s engagement of government, business and academic institutions in Asia; a geographic span extending from Japan to Afghanistan. He has been responsible for organising the Forum’s annual activities in the region such as the World Economic Forum on East Asia and China Business Summit.
Lee has worn several hats. In his prior tenure with the Forum, he was responsible for the editorial focus and intellectual content of the Forum's 31st annual meeting and managed its historic move from Davos to Manhattan in the wake of 9/11. He returns to Geneva after serving as a Senior Policy Advisor for the United States Agency for International Development (USAID) from 2002-04. He is also an Adjunct Fellow at the New America Foundation and Pacific Forum/CSIS and a member of the Advisory Board of the CSIS Global Strategy Institute.
In an exclusive interview with the Economictimes.com, Lee spelt out his priorities as the head of WEF (India) two days ahead of the summit.
Do these forum meetings really contribute substantially towards anything? There is a perception that these forums are just a large jamboree?
I don’t agree. These are very important forums, where people network and influence policy towards the direction to be taken. These forums facilitate the gathering of all the stakeholders including the politicians, where they identify the issues and the obstacles. In fact, it provides a platform for sharing an agenda for business. Otherwise, amongst businesses, it is mostly a competitive agenda. I think, it provides an environment for informed decisions as well.
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What is the perception of India and its businesses today globally and what baggage do you come with to India?
World is flat. With increasing globalisation, the countries cannot afford to ignore the World’s largest Democracy. I came in with my baggage, my work has largely with the Asean countries. India is intriguing—a developing economy which has global reach. It is a dual economy. On the one side, India is very sophisticated, on the other side, it has a huge potential to develop. It has elements that you don’t find in many places. India’s model is a unique one, a story yet to be told.
There is a huge shift in perception. But equitable development is still a dream and to me the challenge for India is to convert this challenge into an opportunity.
For instance, why can’t an Indian Nestle emerge out of the indigenous agri-business in India?
India certainly has a very strong entrepreneurial culture and sectors that are surprising people are pharma and steel.
Can you talk of some big names that are coming for this year’s India Economic Forum?
Well, there are some big names, but what is more interesting is the fact that some interesting countries are coming in. Vietnam is coming in for the first time. But it is surprising that the country has the same amount of FDIs as India. There is a sizeable young population there and it is emerging as manufacturing hub. A lot of attention has been on China in the region, but now its going to be India.
What are the areas where you would like the policy to be influenced?
The focus areas for policy initiatives will emerge after the summit, but broadly as I can see it now, infrastructure, rural economy and risk management are some of the areas needing policy intervention. One focus area for this year’s summit is that states have to come in and they would have a big responsibility. This is one of the pillars of this year’s summit. Many issues are with the state government are the realisation has to come.
What are the main planks of this year’s summit?
For this year, we have identified three main planks- These include:
State and national competitiveness: This is with regard to examining points such as is 8 per cent growth a given? Why is India’s supply chain so slow? How to promote innovation and planning for success—Can the next five-year-plan deliver for all.
Managing growth: This explores how states, industries and companies are adapting to changing political, economic and consumer expectations. This will explore aspects such as the acquisitive India, financial markets—gearing up for growth and will there really be a retail revolution?
Infrastructure development:-- electrifying India: Will private-public partnership work? Urban renewal—Holding the keys to the future and the opportunities from smart growth.
India certainly has a very strong entrepreneurial culture and sectors that are surprising people are pharma and steel.
Can you talk of some big names that are coming for this year’s India Economic Forum?
Well, there are some big names, but what is more interesting is the fact that some interesting countries are coming in. Vietnam is coming in for the first time. But it is surprising that the country has the same amount of FDIs as India. There is a sizeable young population there and it is emerging as manufacturing hub. A lot of attention has been on China in the region, but now its going to be India.
What are the areas where you would like the policy to be influenced?
The focus areas for policy initiatives will emerge after the summit, but broadly as I can see it now, infrastructure, rural economy and risk management are some of the areas needing policy intervention. One focus area for this year’s summit is that states have to come in and they would have a big responsibility. This is one of the pillars of this year’s summit. Many issues are with the state government are the realisation has to come.
ADVERTISEMENT
What are the main planks of this year’s summit?
For this year, we have identified three main planks- These include:
State and national competitiveness: This is with regard to examining points such as is 8 per cent growth a given? Why is India’s supply chain so slow? How to promote innovation and planning for success—Can the next five-year-plan deliver for all.
Managing growth: This explores how states, industries and companies are adapting to changing political, economic and consumer expectations. This will explore aspects such as the acquisitive India, financial markets—gearing up for growth and will there really be a retail revolution?
ADVERTISEMENT
Infrastructure development:-- electrifying India: Will private-public partnership work? Urban renewal—Holding the keys to the future and the opportunities from smart growth.
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