World Economic Forum: Davos-bound squad aims to turn spotlight on India

Top honchos from India Inc, finance, govt heading to the World Economic Forum

The coming week will begin with the world’s who’s who descending on Davos as the annual World Economic Forum (WEF) kicks off amid geopolitical challenges. The list of attendees heading to the picturesque Swiss Alps from India is robust, and its agenda includes projecting the country as a bright spot at a time when the world is contending with a moderating economy and two wars that show no signs of ending.

“There are geopolitical challenges, but those don’t affect India that much. India is in a bright spot,” says Nadir Godrej, chairman of Godrej Industries, who will be attending the forum. Also bound for Davos are Minister for Railways, Communications, Electronics & Information Technology Ashwini Vaishnaw, Reserve Bank of India (RBI) Governor Shaktikanta Das, and industry honchos such as Gautam Adani, Sunil Mittal and Sajjan Jindal.

Joining the lineup will be minority affairs minister Smriti Irani and petroleum and natural gas minister Hardeep Singh Puri, who will showcase India’s growth story. The tech squad will be represented by, among others, Wipro Executive Chairman Rishad Premji and Tata Group Chairman N Chandrasekaran, who is also chairman of TCS.

“Davos is an important event for us. It is an opportunity to talk to our customers more,” says K Krithivasan, chief executive officer (CEO) and managing director (MD), TCS. It is a platform that offers an opportunity to engage with more CEOs than chief information officers (CIOs), he adds. 

“It gives us an idea of how they are looking at business, and where they see the value of cloud and generative AI,” Krithivasan explains. For India’s largest software exporter, Davos acts as “an important source to understand how the business looks at technology” and sustainability.

For the Adani Group, which is armed with a colossal investment plan of Rs 7 trillion over the next decade, it offers a chance to scout for opportunities overseas as well. 

Meanwhile, the Essar Group, which is notching up its green credentials with hydrogen projects in the United Kingdom and plans a $4 billion steel plant in Saudi Arabia, will have Prashant Ruia steering the ship at Davos, officials say.

India Inc is in a cheerful mood following a World Bank report last week, which maintained a growth projection of 6.4 per cent for the next financial year, fuelled by strong domestic demand, rising public infrastructure spending and strong private sector credit growth.  

The banking and finance sector, meanwhile, will be led by RBI Governor Shaktikanta Das. Among others who have confirmed that they are Davos bound are State Bank of India Chairman Dinesh Khara, Bajaj Finserv Chairman and MD Sanjiv Bajaj, Axis Bank MD & CEO Amitabh Chaudhry and Bajaj Allianz Life Insurance MD & CEO Tarun Chugh.

“This will be my 34th visit to the event,” says Ajit Gulabchand, chairman of construction major HCC. “Infrastructure [development] is an important agenda for the country,” he adds. 

Meanwhile, the Russia-Ukraine war, which made headlines in the last two WEF meetings, is expected to be on the top agenda this year as well. The Israel-Gaza conflict, too, will be discussed at the forum, which will run from January 15 to 19. US Secretary of State Antony Blinken and French President Emmanuel Macron are slated to attend.

In an increasingly divided world, this year’s theme, “Rebuilding Trust”, echoes the one chosen for 2022: “Working Together, Restoring Trust”.