Davos World Economic Forum HIGHLIGHTS : India Emerges As ‘Bright Spot’ At The End Of 5 Day Summit
WEF Summit Davos Live Updates: Follow ABP Live for all the latest news and updates from the World Economic Forum Summit 2023.
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World Economic Forum Summit Live Updates: Hello and welcome to the ABP Live blog to catch all the updates from World Economic Forum (WEF) being held at Davos from January 16 to 20. Global leaders are coming together, including around a hundred participants from India, to discuss 'cooperation in a fragmented world'.
The WEF Annual Meeting began on Monday started off with the crystal awards ceremony and the awards celebrate the achievements of leading artists who are bridge-builders and role models for all leaders of society. Artist Maya Lin, acclaimed soprano Renee Fleming and actors Idris Elba and Sabrina Dhowre Elba have been presented with the awards.
The awards ceremony was followed by the 'I Sea You' musical concert, which was presented as a powerful cultural message of unity and collaboration. It also made a call to action to world leaders and policymakers to implement the appropriate and required agreements to protect and preserve the coral reefs of the Northern Red Sea.
Four Union ministers -- Mansukh Mandaviya, Ashwini Vaishnaw, Smriti Irani and R K Singh -- Maharashtra Chief Minister Eknath Shinde, along with a number of officials and business leaders, are taking part in the global summit from India.
AAP leader Raghav Chaddha and Telangana minister K T Rama Rao and Tamil Nadu minister Thangam Thennarasu are also attending the Davos summit 2023.
Among business leaders, Gautam Adani, Sanjiv Bajaj, Kumar Mangalam Birla, N Chandrasekaran, Nadir Godrej, Ajit Gulabchand, Sajjan Jindal, Sunil Mittal, Roshni Nadar Malhotra, Nandan Nilekani, Adar Poonawalla, Rishad Premji and Sumant Sinha are likely to be present.
The meeting will call on leaders from across the globe to address immediate economic, energy and food crises while laying the groundwork for a more sustainable and resilient world.
The theme of the 53rd Annual Meeting would be 'Cooperation in a Fragmented World' and it will convene more than 2,700 leaders from 130 countries, including 52 heads of state/government.
The WEF said the annual meeting comes as multiple crises deepen divisions and fragment the geopolitical landscape and leaders must address people's immediate, critical needs while also laying the groundwork for a more sustainable, resilient world by the end of the decade.
Davos World Economic Forum Live: India Emerges As ‘Bright Spot’ At The End Of 5 Day Summit
The World Economic Forum Annual Meeting 2023 in Davos ended on Friday after five days of intense conversations and debates. The end of the summit saw India emerging as a key pillar in the world order with WEF Founder and Executive Chairman Klaus Schwab describing the country as a bright spot in a fragile world.
Global leaders had gathered in Davos, including around a hundred participants from India, to discuss 'cooperation in a fragmented world'. It included discussion on climate, war, and economic issues with a call by global leaders for a far more collaborative world.
In the closing remarks, WEF President Borge Brende said it has been a remarkable week with significant progress made on climate action and equitable growth targets.
Brenda also said the world may be fragmented today but hopes have emerged here that it may not be so tomorrow.
In the closing session, IMF Managing Director Kristalina Georgieva said her message to world leaders is to be pragmatic and collaborate.
She also warned that fragmentation can cost the global economy up to 7 per cent.
Davos World Economic Forum Live: Greta Thunberg Holds Protest For Climate Justice At WEF
Young Climate activist Greta Thunberg and about 30 other activists on Friday held a demonstration for climate justice at the World Economic Forum (WEF) in Davos.
The protesters chanted “What do we want? Climate justice. When do we want it? Now” and “Fossil fuels have got to go”, while Thunberg held up a sign saying “Keep it in the ground,” according to a Reuters Report.
On Thursday, Thunberg participated in WEF 2023 with International Energy Agency (IEA) head Fatih Birol. She said that the global energy industry would go as far as it could without public pressure and the sector would continue to invest in fossil fuels and "throw people under the bus for their gain".
Climate strike week 231, in Davos outside the World Economic Forum where those most responsible for the climate crisis meet. We’ve written a letter to fossil fuel CEO’s demanding no new fossil fuels. You can sign it too: https://t.co/vsr048rHuo#FridaysForFuture #ClimateStrike pic.twitter.com/nP02hpiZh3
— Greta Thunberg (@GretaThunberg) January 20, 2023
Davos World Economic Forum Live: India Aims To Be The Key Semiconductor Supplier For World, Says Ashwini Vaishnaw
Batting for India's huge potential in the global semiconductor market, Union Communications Minister Ashwini Vaishnaw has said that the country has set in motion an ambitious plan to become a key supplier globally, with the government itself putting in $10 billion, the media has reported. Vaishnaw was speaking at a session on "Learning from semiconductor supply shocks" at the World Economic Forum (WEF) Annual Meeting 2023 in Davos.
"Our university system that produces a large number of talent is also helping a lot as we have tied up with many universities to prepare the right talent," Vaishnaw was quoted as saying by news agency PTI.
According to Vaishnaw, India has a huge potential in terms of infrastructure, talent pool and technology. The Union minister mentioned that educational institutions have partnered with the government and changed the course curriculum for generating semiconductor talent in India.
Davos World Economic Forum Live: India Meets WEF Founder To Advance G20 Agenda, Address Socioeconomic Challenges
India’s ministerial delegation met with World Economic Forum Founder and Executive Chairman Klaus Schwab India’s G20 presidency on Friday. World Economic Forum (WF) in a release said that WEF values its nearly 40-year collaborative history with India and looks forward to continued cooperation.
Indian delegates informed WEF that as a part of its G20 presidency, India aims to promote just and equitable growth while also making significant progress on the most pressing domestic challenges.
The programme simultaneously addresses immediate crises and long-term future challenges and helps set the scene for India’s G20 presidency.
Davos World Economic Forum Live: Experts Pitch For Carbon Pricing Standards To Accelerate Green Energy
Carbon pricing is essential to unlocking trillions of dollars in private capital needed to reach emission reduction targets, experts and business leaders said on Thursday. Speaking at the World Economic Forum (WEF) Annual Meeting 2023 Davos, they urged development banks to take greater risks and coordinate their green investing to accelerate decarbonisation.
Despite the urgent need for climate finance, numerous barriers have impeded the flow of private capital to decarbonisation projects around the world and especially in the Global South, they noted.
Financial experts agreed that a major hurdle is a need for carbon pricing.
"We're still resisting the necessity that carbon has to be priced, and the price has to climb up," said Kristalina Georgieva, Managing Director of the International Monetary Fund.
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