WEF Chief praises PM Modi's 'Sabka Saath, Sabka Vikas' credo

Founder and chairman of the World Economic Forum, Klaus Schwab on Tuesday lauded Prime Minister Narendra Modi's credo of "Sabka Saath, Sabka Vikas" and asserted that India will play a greater role in shaping the future of global economy.

"India's extraordinary achievements corroborate that the country possesses a robust institutional mechanism for deftly counterbalancing pervasive diversity while projecting a single identity," Schwab said in an article written for the Narendra Modi App.

He expressed delight to host the Prime Minister at the annual summit and praised India's efforts, saying that the country will play a great role at the global economic front.

"India will undoubtedly have a great role and influence in shaping our common future by enriching the global policy debate as well as assisting in designing and developing better policies for a prosperous world," Schwab said.

The annual meeting 2018 of the World Economic Forum will be held from January 23 to 26 at Davos in Switzerland with the theme of 'Creating a Shared Future in a Fractured World'.

"India presents an image of optimism and promise. Its unique demographic dividend, rising tide of entrepreneurial spirit, breakthrough innovations across sectors, and remarkable pace of bold and structural reforms have boosted the macroeconomic fundamentals and enhanced India's long-term economic outlook," Schwab wrote.

He also appreciated India expanding its leadership in a wide range of global initiatives.

Schwab further notes India's leading role in the Paris climate agreement and International Solar Alliance, efforts to become a permanent member of the UN Security Council and the Nuclear Suppliers Group.

The chairman feels that it demonstrate a quest for a more pivotal role in global geo-politics and a relentless pursuit of a renewed international identity akin to its potential as a major global player.

He goes on to add that this is "a fact which bears important lessons for the world struggling to find equilibrium and move towards a harmonious multiconceptual existence."

"The time is right for India to amplify its global influence and accelerate the development of robust and resilient economic, social and political foundations," he concluded.

The event which will showcase business opportunities in India as well as make the world familiar with the Indian heritage, will be attended by several top government officials.

Finance Minister, Arun Jaitley; Minister of Commerce and Industry, Suresh Prabhu; Rail and Coal Minister, Piyush Goyal; Petroleum and Natural Gas Minister, Dharmendra Pradhan; among others will be present at the World Economic Forum.

The Ministers will represent India in around 25 sessions organized on Next Generation Industrial Strategies, Infrastructure acceleration, Fourth Industrial Revolution, Future of employment in manufacturing and production.

They will further elaborate on the Prime Minister's vision of transforming the nation into 'New India' by 2022.

11 roundtable meetings will also be organised by 'Invest India' and Confederation of Indian Industry (CII) with existing and potential investors.

Others likely to be present at the global gathering are Pakistan Prime Minister Shahid Khaqan Abbasi along with a number of his cabinet colleagues, as well as Pakistan People's Party Chairman Bilawal Bhutto Zardari.