India's World "World Economic Forum" 2020 - Rajya Sabha TV

Introduction: 

The World Economic Forum Annual Meeting in Davos-Klosters considered and regarded to be the leading creative force for bringing the world’s top leaders in collective activities to shape the global, regional and industry ulterior motive at the beginning of every year. It enables 3,000 participants to come together from round the globe, and ambitious to offer concrete understanding to “stakeholder capitalism”, serve governments and global institutions in follow progress with regards to the Paris Agreement and the aims of Sustainable Development, and ease discussions on technology and trade governance.


Indias World World Economic Forum 2020

World Economic Forum

  • The World Economic Forum is the International organization the common platform for collaboration and co-operation between Public-Private Cooperation. 
  • The Forum attract the leading political, business, cultural and other leaders from different walks of society to shape global, regional and industry ulterior motive. 
  • Constituted in 1971 as a not-for-profit institution and has head office in Geneva, Switzerland. 
  • It is individualistic, unbiased and not tied to or consumed by any special interests. 
  • The Forum strives altogether its endeavour to signify entrepreneurship within the global public interest while practice the very best standards of governance and administration. Righteous and intellectual uprightness is at the base of everything it does. 
  • The activities are shaped by a distinctive institutional culture founded on the stakeholder theory, which asserts that an institution is accountable to all or any parts of society. The Organization carefully combine and balances the simplest of the many forms of organizations, from both the general public and private sectors, international establishments & organizations and academic institutions around the world. 
  • It believes that complete development is witnessed by bringing people together from all walks of life who have the vision, motive, authoritative approach and the impact to bring positive change. 
  • The Forum strategy is straightforward and effective: Bring the most relevant leaders from all sectors from around the globe under one roof, and identify the simplest ways to deal with the world’s most vital challenges. 
  • The forum stood very effective and their approach works well. For nearly five decades (50 years) the Forum has been the impetus for varied global initiatives, historic global shifts, industry milestone, discussion platform for economic ideas and tons of global projects and numerous collaborations. 
  • 2020 theme: Stakeholders for a Cohesive and Sustainable World

Indias World World Economic Forum 2020

Governance 

Chairperson: Professor Klaus Schwab – Executive Chairperson and Founder

Board of Trustees: Extraordinary individuals who act as conservator and curator of its mission vision and values, and supervise the Forum’s prime task promoting true global citizenship. Forum’s membership is split uniformly between spokesperson of the business community and leaders from international establishments & organizations and civil society.

Managing Board:  Work as the executive body of the World Economic Forum & Also acts as its spokesperson or frontman to outside entities.

World Economic Forum (WEF) also assemble around six to eight regional meetings every year in locations spread across African continent, East Asian region, and Latin America, and conduct two additional annual meetings in India and China and the United Arab Emirates (UAE). Until 2012, under the UN’s Economic and Social Council, and now the Forum is under the superintendence of Swiss Federal Council.

Creating Understanding and Co-operation:  The organization or forum generate the required influence and impact by gathering leaders and entrepreneurs from business, government institutions, international establishments & organizations, educators, enthusiast, civil society and young generations altogether to make positive change.

Create Mindsets and Interests: Forums principal report, policy substructure and strategies sway government preferences, business strategies and public standpoint.

Collective Actions: Wide influx of projects and collaborations initiated or supported & assisted by the World Economic Forum (WEF) impact masses, from saving lives through …

  1. Girls education and women empowerment 
  2. Early Childhood vaccination and nourishment 
  3. Assistance in the development of renewable source of energy 
  4. Implementation of policies for better livelihood  
  5. Increase in productivity of small-scale farmlands

India at WEF 2020: 

India is the largest consumer market place for LED bulbs and the centres initiative of promoting and using LED bulbs across India has helped in reducing power consumption and carbon emissions at the global level.

This was initiated by Mr. Piyush Goyal (Member of BJP) Union Minister for Commerce and Industry who is heading the Indian commission at the 50th World Economic Forum held at Davos.

Indias World World Economic Forum 2020

Classification of Key Areas at the WEF 

Ecology: Mobilization of businesses to acknowledge to the risk of climate change and make certain measures and policies to safeguard the biodiversity of forest floors and ocean beds.

Economy: Finding ways to eliminate everlasting cumbersome long-term debts to enable better performing economy for higher inclusion.

Technology: Creation of global awareness on implementation of the 4th industrial revolution and employ measures to avoid “technology war”.

Society: Way to educate and make masses employable for the next decade.

Geopolitics: Looking ahead for “Meeting at Davos” to create a way to settle global conflicts and political distress.

Industry: Identify gaps, find measures and create policies to create a model to enable businesses get prepared for 4th industrial revolution. Navigate potential businesses around world from political chaos and tensions towards technological adaptation.  

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