WEF India meet to focus on inclusive growth, tech revolution

NEW DELHI: Policy makers and industry leaders will deliberate upon inclusive growth through digital transformation at the WEF India summit, a senior official said.

World Economic Forum's (WEF) India summit is slated to be held on October 6 and 7.

"The theme of this year's annual meeting would be fostering an inclusive India through digital transformation," WEF's Managing Board Member Murat Sonmez told PTI.

Leaders from business, government, civil society, NGOs and academia would be participating in the summit, being organised in partnership with the Confederation of Indian Industry (CII).

"These people will explore how to collectively shape policies for inclusive growth and harness the Fourth Industrial Revolution - a technological revolution - that is changing the scale, scope and complexity of the opportunities and challenges that we face," Sonmez said.

Key issues of national and regional importance under three thematic pillars - mastering the Fourth Industrial Revolution, driving sustainable and equitable growth and improving the ease of doing business - would also be deliberated upon at the event.

"We are planning to invite Prime Minister Narendra Modi and all ministers of the central government for the summit," he said.

Senior officials of leading corporates including Mahindra & Mahindra, Infosys, Reliance Industries, Adani, Wipro and Tata Consultancy Services are expected to attend the summit.

According to Sonmez, it is the right time for India's economy to soar as the country has a strong demographic dividend, a growing entrepreneurial ecosystem and a large domestic market.

Asked about the theme for the annual WEF summit at Davos next year, Sonmez said: "Governance system for the Fourth Industrial Revolution is expected to be on the agenda for the annual summit."

All the heads of states are generally invited for the Davos meet, he added.

Talking about new vision for agriculture initiative (New Vision for Agriculture or NVA), Sonmez said it is a global initiative of the WEF to strengthen food security, environmental sustainability and economic opportunity through a market-based, multi-stakeholder approach.

In India, NVA has catalysed and supported partnerships platforms in Maharashtra, Andhra Pradesh and Karnataka.

Over three years, the partnership has engaged over 60 organisations, mobilised more than $50 million in investments and involved nearly 5 lakh farmers.

The Forum has also set up the New Vision for Agriculture India Business Council which aims to provide private sector championship and strategic guidance to expand partnership efforts in the country.