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

World Economic Forum is the International organization the common platform for collaboration and co-operation between Public-Private Cooperation.

· 4 min read
India's World "World Economic Forum" 2020 - Rajya Sabha TV
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Introduction

The World Economic Forum Annual Meeting in Davos-Klosters is considered and regarded to be the leading creative force for bringing the world’s top leaders into collective activities to shape the global, regional, and industry ulterior motive at the beginning of every year.

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It enables 3,000 participants to come together from around the globe and is ambitious to offer a concrete understanding of “stakeholder capitalism”, serve governments and global institutions in the following progress with regards to the Paris Agreement and the aims of Sustainable Development, and ease discussions on technology and trade governance.

World Economic Forum

  • The World Economic Forum is the International organization the common platform for collaboration and co-operation between Public-Private Cooperation.
Photo by Evangeline Shaw / Unsplash
  • The Forum attracts the leading political, business, cultural, and other leaders from different walks of society to shape global, regional, and industry ulterior motives.
  • Constituted in 1971 as a not-for-profit institution and has its head office in Geneva, Switzerland.
  • It is individualistic, unbiased, and not tied to or consumed by any special interests.
  • The Forum strives altogether its endeavor to signify entrepreneurship within the global public interest while practicing the very best standards of governance and administration. Righteous and intellectual uprightness is at the base of everything it does.
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  • 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 combines 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 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 milestones, discussion platforms for economic ideas, tons of global projects, and numerous collaborations.
  • 2020 theme: Stakeholders for a Cohesive and Sustainable World

Governance

Chairperson: Professor Klaus Schwab – Executive Chairperson and Founder

Board of Trustees: Extraordinary individuals who act as conservators and curators of its mission vision and values, and supervise the Forum’s prime task of 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.

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World Economic Forum (WEF) also assembles around six to eight regional meetings every year in locations spread across the African continent, East Asian region, and Latin America, and conducts 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 the Swiss Federal Council.

Creating Understanding and Cooperation:  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's empowerment
  2. Early Childhood vaccination and nourishment
  3. Assistance in the development of renewable sources of energy
  4. Implementation of policies for better livelihood
  5. Increase in productivity of small-scale farmlands

India at WEF 2020:

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India is the largest consumer marketplace for LED bulbs and the center's 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.

Classification of Key Areas at the WEF

Ecology: Mobilization of businesses to acknowledge the risk of climate change and take 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 a better performing economy for higher inclusion.

Technology: Creation of global awareness of the 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 to “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 to get prepared for the 4th industrial revolution. Navigate potential businesses around the world from political chaos and tensions toward technological adaptation.