India Inc. upbeat about PM Modi at WEF

Noted industrialist Rahul Bajaj, on Monday expressed confidence that Prime Minister Narendra Modi would "take the world by storm" through his keynote address at the plenary session of the 2018 World Economic Forum (WEF).

The event is scheduled for Tuesday in Davos in Switzerland.

"Prime Minister Modi is an outstanding speaker, and he will take the world by storm. I am delighted that he is coming here to attend the forum, and looking forward to his crucial address at tomorrow's plenary session," Bajaj said, while speaking to ANI ahead of the global economic summit.

Prime Minister Modi left for the Swiss mountain resort earlier on Monday. Through his 24-hour packed schedule in Switzerland, he is expected to woo investors for his various flagship programmes and pitch India as a major driver of global economic growth.

Prime Minister Modi is the first Indian minister to attend the WEF in more than two decades.

"Deve Gowda came to Davos 21 years ago. Unfortunately, he came with his entire family. It is perhaps not the right thing to do, as it's a very serious occasion, not a picnic. Anyway, we're delighted that Prime Minister Modi is coming," added Bajaj.

Commenting on the current economic conditions, the chairman of the Bajaj Group noted that despite hiccups, the potential of India's demographic dividend can help strengthen the economy.

"I don't want to equate my nation with any individual. However, while I do agree we have problems, I would like to point out that a majority of our population is below the age of 35. If we provide them the necessary education and skills, it will be a really strong demographic dividend," said Bajaj.

The industrialist further suggested that in a bid to improve the situation of unemployment and lack of demand, both government and industry bodies must work cohesively.

While in Switzerland, the Prime Minister is also scheduled to host dinner for global industry bosses from 18 countries. With business on their mind, leaders of Indian business community are also camping in the snow-capped Davos to interact with their international counterparts.

Director General of the Confederation of Indian Industries (CII), Chandrajit Banerjee, opined that both domestic as well as foreign corporates look upbeat about the Indian economy.

"India's story, in terms of what is going to unfold with the strength that the economy has now gained, is phenomenal. I think there is extreme positivity expressed by Indian as well as foreign corporates," said Banerjee.

The Prime Minister is accompanied by Finance Minister Arun Jaitley and Commerce Minister Suresh Prabhu, among others.