This year's theme is "Engaging Diaspora: Connecting Across Generations" and the Youth PBD is expected to open new horizons of a strong network of young overseas Indians to contribute to India's engagement with youth in all sectors.
"Engaging with the youth and healthcare will one of the major sectors where discussions will take place this year," Overseas Indian Affairs minister Vayalar Ravi told reporters.
To be inaugurated by Prime Minister Manmohan Singh, Malaysia's Minister of Natural Resources and Environment Y B Datuk Seri Palanivel will be the chief guest.
President Pranab Mukherjee will deliver the valedictory address on January 9 and will confer the Pravasi Bharatiya Samman Awards which will be given to 14 people this time.
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Ravi said a special session on "Issues of NRIs in the Gulf" will also be organised this year to discuss the problems faced by them and their possible remedies.
Apart from that sessions on "Sharing a common heritage: the emotional connect" and on young achievers, plenary session on India's growth and development agenda, India's soft power, PBD oration, investment opportunities in states and parallel state sessions will also be held.
This year's event is also expected to witness large participation from delegates across the world.
"Already 700 delegates have registered. Usually registration comes in the last day. Last year, only 400-500 delegates were there. The number of participants will increase. We are also talking to different associations around the world... People from 50 countries have already registered," Ravi said.
However, Congress Vice President Rahul Gandhi may not be able to take part in the session in the Youth PBD.