Page 2 - World Economic Forum

India puts up big show at Davos WEF, bags Rs 20 trn investment commitments

As the five-day World Economic Forum Annual Meeting ended on Friday, Indian leaders said they could see trust for India in eyes of all global leaders and that was reflected in investment commitments totalling over Rs 20 lakh crore with Maharashtra grabbing the biggest pie of almost 80 per cent. Union minister Ashwini Vaishnaw, who led the largest ever Indian delegation of five Union ministers and several leaders from states including three chief ministers, said trust and talent are the biggest factors attracting the world to India. All states and central government departments shared space for the first time at two India Pavilions and a joint press conference was held for the first time by state and Union ministers, coming from half a dozen different parties to put up a unified 'Team India' face. "We are in Davos at a very important juncture in our global geopolitical and geo economic scenario. Despite all the disruption and all the issues the world is facing, India has emerged as a

Essar Group to invest $650 mn more in US steel plant: Prashant Ruia

Company to focus on energy, metals and mining, infrastructure and technology in India, he says

Trust, talent attracting investors to India: Ashwini Vaishnaw at Davos

Describing 'trust and talent' as the two most important factors, senior Union Minister Ashwini Vaishnaw said here that global companies are very enthused about India, with existing players planning to scale up and several new ones wanting to set shop in the country. The Minister for Railways, Information and Broadcasting, and Electronics and Information Technology said many new semiconductor players have also shown their interest while his ministry has also taken up the task of making new chipsets, which would be designed and fabricated in India and would be of use for multiple sectors. Speaking to PTI here during the World Economic Forum Annual Meeting, Vaishnaw also said that India is set for a leadership role in the area of artificial intelligence. Asked about the biggest factor attracting investors towards India, he said, "There are multiple factors. There was a time when people used to evaluate a destination only on the basis of cost. But the first factor in any evaluation toda

Trump tells businesses to manufacture in US or face higher tariffs

US President Donald Trump on Thursday addressed the World Economic Forum where he offered business leaders low taxes if they manufacture their products in the US, while threatening them with tariffs if they don't. Addressing the forum's Annual Meeting here through video conferencing, Trump also said he is going to ask Saudi Arabia and OPEC to bring down oil prices and asserted that if prices come down Russia-Ukraine war will end immediately. Throughout the world, food prices went through the roof and I've taken immediate actions to control inflation in America, he said. "United States has the largest amount of oil and gas in the world and I'm going to use it," he said. "I promise to eliminate 10 old regulations for every new regulation... I am going to pass the largest tax cuts in the American history to help our people," he said. At the same time, if a business doesn't manufacture its products in America, there would be tariffs to pay, he warned. Many companies globally have alr

Manchester United likely to kick off its India journey from Chennai

Manchester United is exploring the prospect of bringing global standards of football training to Tamil Nadu

India poised for global leadership in AI, balance necessary: Vaishnaw

India is poised for a global leadership position in the area of artificial innovation just like it has proven its mettle in IT services, Union Minister Ashwini Vaishnaw said on Thursday. Speaking to PTI here during the World Economic Forum Annual Meeting, the minister for electronics and information technology said all necessary regulations would be in place for AI while maintaining a balance with innovation. Talking about a united India face at Davos this time, the senior minister said, "Prime Minister Narendra Modi had told us clearly that the Indian pavilion this time in Davos should integrate all states. "That has sent a very good signal this time for a unified image of the country. Leaders from 5-6 different parties came together on one stage," he added. Vaishnaw said people across the world now understand how India could stay on a sustained growth path when many other countries went deep under debt. On misinformation and mistrust emerging as biggest threats globally as ...

Telangana govt inks MoUs worth Rs 1.79 trillion investments at Davos

Chief Minister A Revanth Reddy-led "TelanganaRising" delegation signed as many as 20 MoUs for investments and expansions worth nearly Rs 1.79 lakh crore on the sidelines of the World Economic Forum summit at Davos, Switzerland, with the majority of them for setting up data centres, followed by pumped storage facilities in the state. A press release from the Chief Minister's Office said the investments are expected to create nearly 50,000 jobs. The biggest individual investments breakup broadly includes Amazon AWS - Rs 60,000 crore data centre, Sun Petrochemicals - Rs 45,500 crore, Tillman Global Holdings - Rs 15,000 crore, Megha Engineering - Rs 15,000 crore, among others, it said. "The TelanganaRising delegation, led by CM Reddy concluded its highly successful Davos trip on Thursday with a total investment of Rs 1,78,950 crore (INR One Lakh Seventy Eight Thousand Nine Hundred Fifty crore), which will create 49,550 jobs," the release said. Software majors such as Infosys (17,000 ..

Entire planet will be now peaceful, prosperous: Trump at WEF meet

US President Donald Trump on Thursday said a golden age of America has begun with his second term and the entire world would soon be more peaceful and prosperous. He also said he is going to ask Saudi Arabia and OPEC to bring down oil prices and asserted that if prices come down Russia-Ukraine war will end immediately. Addressing the World Economic Forum Annual Meeting here through video conferencing, Trump also said his administration has accomplished in four days what other regimes could not get in four years. Inauguration of his second presidency took place on January 20, the same day when the five-day WEF Annual Meeting began. "A golden age of America has begun, our country would be soon stronger, united and more wealthier than ever," he said. The entire planet will be more peaceful and prosperous as a result of this, he said while talking about the measures he has already announced and the further steps he will be taking going ahead in his second term. My administration is a

Growing geoeconomic fragmentation can decrease global GDP by $5.7 trn: WEF

Growing geo-economic fragmentation can decrease global GDP by up to USD 5.7 trillion, giving it a bigger blow than the financial crisis of 2008 or the COVID-19 pandemic, a new study showed on Thursday. India and some other emerging economies can bear the biggest burden in the most extreme fragmentation scenario, it cautioned. Countries are increasingly using the global financial and trading systems to advance geopolitical objectives through sanctions, industrial policies, and other economic measures, the World Economic Forum said while releasing the report here during its Annual Meeting 2025. The Navigating Global Financial System Fragmentation report estimated that fragmentation resulting from statecraft policies could cost the global economy USD 0.6 trillion to USD 5.7 trillion up to 5 per cent of global GDP due to reduced trade and cross-border capital flows as well as lost economic efficiencies. It could also increase global inflation by more than 5 per cent in a very high ..

Of 29 MoUs signed in Davos, only 1 co from outside India: Aaditya Thackeray

Shiv Sena (UBT) leader Aaditya Thackeray on Thursday targeted the Devendra Fadnavis-led Maharashtra government, saying that of the 29 investment MoUs signed on the sidelines of the World Economic Forum (WEF) in Davos, only one company is from outside India. The annual five-day meeting of the WEF is underway in Davos, Switzerland from January 20. CM Fadnavis is attending the meeting with a state delegation. In a post on X, Thackeray said the Davos trip of CM Fadnavis seems to be "totally misaligned" by his office. "Out of the MoUs for proposed investment signed with 29 companies, only 1 is from outside of India. The rest are all Indian or having HQs/bases in India," he said. "Of the 29 companies, 20 are based in Maharashtra, 15 of which are in Mumbai where the @CMOMaharashtra is located," the MLA from Worli in Mumbai said. The state government has said that some 54 MoUs were inked in Davos until Wednesday with an investment of Rs 15.70 lakh crore. Taking a dig at Deputy Chief ...

Paras Defence inks pact for Rs 12,000 cr optics park in Maharashtra by 2035

Paras Defence on Thursday said it is planning to invest Rs 12,000 crore to set up the country's first optics park in Maharashtra and signed an initial pact with the state government at the ongoing World Economic Forum in Davos. The project is expected to commence in 2028 and will continue till 2035 to ensure scalability and flexibility. The investment is set to create a technology hub for defence, space, automotive, semiconductor and other applications, the company said in a statement. It also reaffirms Paras Defence's commitment to the 'Make in India' initiative while advancing India's aspirations for technological independence in critical sectors, the company said, adding that the project is poised to generate over 2,000 direct employment opportunities. Under the planned initial pact, the Maharashtra government has pledged its support to the company in securing land, various incentives and approvals to bring the ambitious project to fruition, it stated. "This revolutionary proje

First 'Made-in-India' chip to now roll out in 2025, says Ashwini Vaishnaw

Notably, the chip was supposed to be launched in December 2024, as announced by Ashwini Vaishnaw at the Davos summit in January last year

World Economic Forum: Leaders call for action on AI, regional reforms

Leaders from various countries called for action on artificial intelligence and reforms as they brainstormed here during the five-day World Economic Forum Annual Meeting, which ends on Friday. In a special address, Spanish Prime Minister Pedro Sanchez called for a reform of social media governance across the European Union to curb misinformation and cyber harassment. He urged for stronger enforcement of the Digital Services Act and expanded powers for the European Centre for Algorithmic Transparency. He emphasised that "the values of the European Union are not for sale" and called for increased funding for research into social media algorithms to ensure Europe's brightest minds address this critical challenge. United Nations Secretary-General Antnio Guterres issued a stark warning about two escalating global threats: the unchecked expansion of artificial intelligence and the climate crisis. These challenges, he warned, pose unprecedented risks to humanity and demand immediate, unifi

India's brand has been reinforced under PM Modi's leadership: Andhra CM

The brand of India has been reinforced under Prime Minister's leadership. India is very strong, and well-recognized by global community, global investors and all countries, Andhra Pradesh CM said

Investment MOUs worth Rs 16 trillion signed in Davos, says CM Fadnavis

Maharashtra Chief Minister Devendra Fadnavis on Wednesday said his state has signed MOUs worth nearly Rs 16 lakh crore in Davos during the World Economic Forum Annual Meeting. The chief minister said these MOUs have been signed across various sectors and would help the state in achieving its goal of taking its GDP to USD 1 trillion. For India to become USD 5 trillion economy, Maharashtra has to become USD 1 trillion economy and we will achieve that target by 2030, Fadnavis told PTI in an interview here. Fadnavis said investors' confidence in policy continuity at Centre and in state as also their trust in Prime Minister Narendra Modi has led to this record level of investment commitments. He said the state government would track these MOUs to ensure their conversion into actual investments. Later, addressing a press conference along with other Indian leaders, he said it is important for all states to grow together for the country to grow further At the same conference, Telangana .

Andhra CM meets Bill Gates at WEF, discusses ties in health, education

Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday met Microsoft founder Bill Gates at the World Economic Forum in Davos and discussed fostering partnerships to transform the state into a global healthcare, education and innovation hub, an official release said. The two deliberated on establishing a centre of excellence for health innovation and diagnostics in the southern state to offer cutting-edge services. "I am delighted to meet Bill Gates again after a long time... His focus on technology and innovation has been an inspiration to all. We discussed opportunities for collaboration in health and AI innovation, and I look forward to BMGF's (Bill and Melinda Gates Foundation) partnership in Andhra Pradesh's progress," the release quoted Naidu as saying. Emphasising that Andhra Pradesh is committed to leveraging innovation to improve public health outcomes, the CM invited Gates to join the advisory board of a proposed artificial intelligence (AI) university in the ...

India most trusted place amid disruptions across globe: Ashwini Vaishnaw

Union minister Ashwini Vaishnaw on Wednesday said India has emerged as the most trusted place amid disruptions across the word. Addressing a press conference here on the sidelines of the World Economic Forum Annual Meeting along with other Indian ministers and state leaders cutting across party lines, he said that global investors and leaders are convinced about India's potential. Vaishnaw said it is a very special occasion to have one combined India team here in Davos. "Despite all disruptions across the world, India has emerged as a trusted place. This is a country that believes in peace, inclusion and growth for everyone," the union minister of railways said. Andhra Pradesh Chief Minister N Chandrababu Naidu said he has been coming here for a long time, the first being in 1967, but it is the first time that 'Team India' has put up a united face. He also said that the Indian delegation has got the best attention this time in Davos. Naidu said the leaders on the stage may be fro

Our capability centres turned into innovation hubs: Indian leaders at Davos

The global capability centres in India have transformed from being centres of cost arbitrage to global innovation hubs, Indian leaders said on Wednesday on the sidelines of the World Economic Forum Annual Meeting. Speaking at a breakfast session organised by the Confederation of Indian Industry (CII) here, they also said there should be a consistent focus on upskilling the Indian talent pool. D Sridhar Babu, Telangana's Minister for Information Technology, Electronics & Communications; Industries & Commerce, said, "The Government of Telangana is working to put young Indians in Skills' University for training, coaching and tutoring that is required to upskill and reskill employees as well as people who would like to know about new technologies.. This has already started, and it is absolutely industry-driven where the government only acts as a facilitator, he added. Emphasising the importance of staying ahead in technological advancements, he said, "As the world is witnessing ...

5 new Indian industrial clusters join WEF; commit to growth, jobs creation

As many as 33 industrial clusters from 16 countries, including five from India, on Wednesday committed to economic growth, jobs creation, and emission cuts as part of the World Economic Forum's Transitioning Industrial Clusters Initiative. The initiative, first launched at COP26 climate summit in 2021, and developed in collaboration with Accenture and EPRI, now comprises 33 clusters in 16 countries and five continents, the largest coalition of co-located companies and public institutions pledging to reduce their greenhouse gas (GHG) emissions while boosting economic growth and job creation. The 33 signatories together represent potential carbon dioxide-equivalent emissions reductions of 832 million tonnes -- approximately the annual emissions of Saudi Arabia, the World Economic Forum announced here during its Annual Meeting 2025. They also make a direct contribution of USD 492 billion to gross domestic product (GDP) and support 4.3 million jobs. In addition, a new report, published

Davos takes a sigh of relief as Trump holds off starting trade wars

International Monetary Fund Deputy Managing Director Min Zhu, a former People's Bank of China deputy governor, said he wasn't surprised that Trump refrained from imposing tariffs on China