Four Indians - Kanika Dewan, Dhivya Suryadevara, Shaurya Veer Himatsingka and Sheetal Amte-Karajgi - have made it to the list of over 121 young global leaders recognised by the World Economic Forum.
WEF recognised 121 scientists, government leaders, future business leaders, social activists and artists, aged under 40, as the Young Global Leaders Class of 2016. According to WEF, these people are "shaking up policy, society and the world around them".
Over half of the Young Global Leaders Class of 2016 are women and the majority are from emerging economies.
The individuals who represented India in the list include three women, Kanika Dewan, President of Bramco Group, Dhivya Suryadevara CEO of GM Asset Management, one of the largest pensions in the US, where she manages USD 80 billion in assets and Sheetal Amte-Karajgi, CEO of Maharogi Sewa Samiti, who is making a significant impact on the lives of the marginalised.
Shaurya Veer Himatsingka, Deputy Managing Director, India Carbon, was the other Indian who made it to the coveted list.
On Himatsingka, WEF said "through his various organisations, he has led the establishment of training centres for the visually impaired and serves as National Chairman of Young Indians, where he launched a nation-wide campaign to stop child sexual abuse".
The list includes 15 young leaders from the Asia-Pacific, 4 from Eurasia, 23 from Europe, 14 from Greater China, 7 from Latin America, 11 from the Middle-East and North Africa, 24 from North America, 12 from South Asia and 11 from sub-Saharan Africa.
The Young Global Leaders Class of 2016 also includes Amal Clooney, a barrister who specialises in international criminal law and human rights, Ashton Kutcher, the actor and emerging technology investor who launched an innovation lab to fight child sexual exploitation, and Nina Tandon, who founded Epibone, the world's first company growing living human bones for skeletal reconstruction.
"We want these young leaders to be part of the solution and provide a community that helps them break down silos, work across sectors, bridge cultures and have the skills to get things done in private, public and civil society organisations," said John Dutton, Head of the Young Global Leaders at the World Economic Forum.
Others who have been named Young Global Leader (YGL) in the past include British Prime Minister David Cameron, Alibaba Group chief Jack Ma, Yahoo CEO Marissa Mayer, Google chief Larry Page and Italian Prime Minister Matteo Renzi.
As per the report, while unemployment in India is not as
high as in some other countries, the labour force participation rate is low, the informal economy is large, and many workers are in vulnerable employment situations with little room for social mobility.
About India, the report also noted that a more progressive tax system would help raise capital for expenditure on infrastructure, health care, basic services and education.
"India scores well in terms of access to finance for business development and real economy investment.
"However, new business creation continues to be held back by corruption, underdeveloped infrastructure, and the large administrative burden involved in starting and running companies," it added.
According to the report, annual median incomes declined by 2.4 per cent or USD 284 per capita across 26 advanced economies between 2008 and 2013.
"Developing countries fared much better, with median incomes rising by an average of 10.7 per cent or USD 165.
"However, 23 per cent of them experienced a decline in median per capita income of 9 per cent, as compared to 54 per cent of advanced countries experiencing a decline of an average 8 per cent or USD 1,044 per person equivalent to USD 2,505 per average household," it said.
Richard Samans, Member of the WEF's Managing Board, said there is a global consensus on inclusive growth, but it has been far more directional than practical.
To respond more effectively to social concerns, economic policy needs a new compass setting, broad-based progress in living standards, and a new mental map in which structural reform is re-imagined and reapplied to this task, he added.
