Bullish on India's power to shape the global agenda, the WEF's Founder and Chairman Klaus Schwab has said the country's early policy response to the COVID-19 pandemic was strong and now its biggest opportunity lies in leapfrogging to a more digital and sustainable economy. 
 
<a href="https://www.wionews.com/india-news/coronavirus-in-india-50129-new-cases-in-24-hours-tally-crosses-over-7864-lakh-337752">Also read | Coronavirus in India: 50,129 new cases in 24 hours, tally crosses over 78.64 lakh</a> 
 
He further said he remains optimistic about India and as the country continues its quest to build "a stronger and more equal nation, the world will watch it for inspiration". "With its demographic advantage and extensive diversity, India has the power to shape the global agenda and define our collective future," Schwab told PTI in an interview from Geneva where the World Economic Forum (WEF) is based.

Schwab, who founded WEF over 50 years ago, said, "The early policy response in India to mitigate the impact of the pandemic was strong; from an early lockdown to large-scale food rations to over 800 million people risking starvation, to collateral-free credit for small businesses."

"But what it couldn't prevent is that this pandemic has put millions of informal workers, low-income migrant workers and daily-wage earners in a state of extreme insecurity. Protecting their lives and livelihoods is the prime concern today, as it could lead to an even deeper, humanitarian crisis on the back of the ongoing public health crisis," he said.

Schwab said that as India focuses on building a better future after the pandemic, "its greatest opportunity probably lies in its efforts to leapfrog to a more digital and sustainable economy". He further said that sadly there was clearly a lack of epidemic preparedness in many countries.

"The notion that a pandemic is a once-in-a-hundred-year event, made many governments and business leaders conclude it was not an immediate threat. In the spring and summer, we paid the price for that," he added.

"But what matters now, is what we do to put an end to the pandemic as soon as possible, and how we deal with the ongoing threat of a severe second wave. It is important we all come together and support those in charge of providing healthcare, whether in the public or the private sector," Schwab noted.

He observed the responsibility of epidemic preparedness lies primarily with the government and public health authorities, and less with the private healthcare or pharmaceutical sector in many countries.

"Governments, notably, are responsible for providing a strategic stock of healthcare supplies. In the countries with a public healthcare system, it is also the responsibility of those who manage these systems, to ensure there is enough capacity in hospitals, and enough supply of crucial equipment like respirators," he noted.

The WEF describes itself as an international organisation for public-private partnership and has been known for various studies and global events hosted by it, including the high-profile Davos Annual Meeting every year on the Swiss Alps that is attended by thousands of world leaders.

The 50th annual meeting, held in January 2020, was the last major global event before almost the entire world got locked down due to the coronavirus pandemic. The next annual meeting has now been postponed to May 2021 and will be held in Lucerne-Burgenstock in Switzerland, instead of Davos.

Schwab has co-authored a book, titled 'The Great Reset', which deals with top priorities before business leaders and policymakers around the world in the wake of the coronavirus pandemic. The book also talks about whether the world should get back to where it was before, or should it take the opportunity to make society fairer, smarter and greener, and get humanity off the road to climate catastrophe.

In the interview, Schwab said the world is at a turning point for humanity today. "COVID-19 is the most devastating and immediate crisis we are facing, but we are equally going through the worst environmental crisis in human history as well. And socio-economically, the division and inequalities we are facing are the worst in a generation," he said.

The WEF founder said this scenario cannot be dealt with incrementally and what is needed is 'A Great Reset' - a fundamental rethinking of our economies and of our societies. "We must not only repair the damage but address major deficiencies in our economic and social systems which were apparent before the pandemic broke out. One of the priorities for the Great Reset is to re-define our social contract," he said.

"That is particularly relevant for emerging economies like India, who have not yet built up social welfare systems to the same degree as some countries in Europe, such as the Scandinavian countries," he added.

Bullish on India's power to shape the global agenda, the WEF's Founder and Chairman Klaus Schwab has said the country's early policy response to the COVID-19 pandemic was strong and now its biggest opportunity lies in leapfrogging to a more digital and sustainable economy.

Bullish on India's power to shape the global agenda, the WEF's Founder and Chairman Klaus Schwab has said the country's early policy response to the COVID-19 pandemic was strong and now its biggest opportunity lies in leapfrogging to a more digital and sustainable economy. Also read | Coronavirus in India: 50,129 new cases in 24 hours, tally crosses over 78.64 lakh He further said he remains optimistic about India and as the country continues its quest to build "a stronger and more equal nation, the world will watch it for inspiration". "With its demographic advantage and extensive diversity, India has the power to shape the global agenda and define our collective future," Schwab told PTI in an interview from Geneva where the World Economic Forum (WEF) is based. Schwab, who founded WEF over 50 years ago, said, "The early policy response in India to mitigate the impact of the pandemic was strong; from an early lockdown to large-scale food rations to over 800 million people risking starvation, to collateral-free credit for small businesses." "But what it couldn't prevent is that this pandemic has put millions of informal workers, low-income migrant workers and daily-wage earners in a state of extreme insecurity. Protecting their lives and livelihoods is the prime concern today, as it could lead to an even deeper, humanitarian crisis on the back of the ongoing public health crisis," he said. Schwab said that as India focuses on building a better future after the pandemic, "its greatest opportunity probably lies in its efforts to leapfrog to a more digital and sustainable economy". He further said that sadly there was clearly a lack of epidemic preparedness in many countries. "The notion that a pandemic is a once-in-a-hundred-year event, made many governments and business leaders conclude it was not an immediate threat. In the spring and summer, we paid the price for that," he added. "But what matters now, is what we do to put an end to the pandemic as soon as possible, and how we deal with the ongoing threat of a severe second wave. It is important we all come together and support those in charge of providing healthcare, whether in the public or the private sector," Schwab noted. He observed the responsibility of epidemic preparedness lies primarily with the government and public health authorities, and less with the private healthcare or pharmaceutical sector in many countries. "Governments, notably, are responsible for providing a strategic stock of healthcare supplies. In the countries with a public healthcare system, it is also the responsibility of those who manage these systems, to ensure there is enough capacity in hospitals, and enough supply of crucial equipment like respirators," he noted. The WEF describes itself as an international organisation for public-private partnership and has been known for various studies and global events hosted by it, including the high-profile Davos Annual Meeting every year on the Swiss Alps that is attended by thousands of world leaders. The 50th annual meeting, held in January 2020, was the last major global event before almost the entire world got locked down due to the coronavirus pandemic. The next annual meeting has now been postponed to May 2021 and will be held in Lucerne-Burgenstock in Switzerland, instead of Davos. Schwab has co-authored a book, titled 'The Great Reset', which deals with top priorities before business leaders and policymakers around the world in the wake of the coronavirus pandemic. The book also talks about whether the world should get back to where it was before, or should it take the opportunity to make society fairer, smarter and greener, and get humanity off the road to climate catastrophe. In the interview, Schwab said the world is at a turning point for humanity today. "COVID-19 is the most devastating and immediate crisis we are facing, but we are equally going through the worst environmental crisis in human history as well. And socio-economically, the division and inequalities we are facing are the worst in a generation," he said. The WEF founder said this scenario cannot be dealt with incrementally and what is needed is 'A Great Reset' - a fundamental rethinking of our economies and of our societies. "We must not only repair the damage but address major deficiencies in our economic and social systems which were apparent before the pandemic broke out. One of the priorities for the Great Reset is to re-define our social contract," he said. "That is particularly relevant for emerging economies like India, who have not yet built up social welfare systems to the same degree as some countries in Europe, such as the Scandinavian countries," he added.

India reacted early and well on COVID-19: World Economic Forum chief Klaus Schwab

Klaus Schwab, who founded <a href="http://www.wionews.com/business-economy/indian-economy-doing-well-but-one-cant-be-complacent-world-economic-forum-president-to-wion-171077">the World Economic Forum (WEF)</a>, has said his childhood during World War II inspired him to build an organisation that would make the world a better place.

His foundation, which hosts many of the world's most powerful, famous and wealthy people at its annual meeting in the Swiss ski resort of Davos, has clearly made an impact.

But questions have grown about whether the organisation is meeting its declared goal of "improving the state of the world", with resentment rising against the pro-business Davos agenda, and voters turning instead to populist leaders.

One persistent criticism is that WEF meetings, including this week's main annual gathering in Davos, have simply created a safe space for the corporate world to lobby governments without oversight.

Schwab was not available for an interview with AFP but the WEF's managing director, Adrian Monck, said in an email that the organisation "subscribes to the highest standards of governance".

Schwab, born in Ravensburg, Germany, in 1938, was a little-known business professor at the University of Geneva when in 1971 he founded the WEF's precursor, the European Management Forum.

He later broadened the conclave by inviting US business leaders, assembling a prestigious Rolodex as he turned the gathering into a showcase for networking and exchange of ideas.

In a 2018 book, two Stockholm University professors chronicled the WEF's evolution, as over time politicians joined the business executives in Davos to give the forum the air of a United Nations, with a few celebrities thrown in.

"Against the backdrop of what is perceived to be malfunctioning global governance institutions and stalled international policymaking, the WEF presents itself as offering an alternative," Christina Garsten and Adrienne Sorbom write in "Discreet Power: How the World Economic Forum Shapes Market Agendas".

Over the years, success has bred success for the WEF as many of the world's movers and shakers vie to rub shoulders in the Swiss Alps at panel discussions and apres-ski socialising. Newer regional meetings have joined the Davos calendar.

The WEF's "fragile authority" relies on proving "that if you want to be part of the global nobility, then you have to be here," Sorbom told AFP.

She said the organisation appears to offer something lacking in other international bodies: a venue where the heads of business and government can meet "and possibly come up with some good ideas". But it has "troublesome aspects", she added.

With dozens of heads of state and government coming to Davos each year, the WEF can be seen as a body "without a legal mandate to influence global governance yet with an ambition to do so", Garsten and Sorbom write.

Oliver Classen of the Swiss NGO Public Eye, which has spearheaded protests and other campaigns to counter the Davos meeting, said the WEF has always been "fully dependent" on the 1,000 companies that support the foundation.

Membership to the Forum ranges from the equivalent of $ 60,000 (53,000 euros) to $ 600,000, fees that allow company representatives to attend Davos and other meetings throughout the year.

"Schwab seems to have a firm belief that making people talk to each other is an objective that justifies pretty much everything," Classen said. "What he does not realise is that... When the large majority of those people have commercial interests then it is about deal-striking and nothing else."&nbsp;

Monck, however, said that for the WEF, "multi-stakeholder engagement... Means respecting the opinions and interests of others".

The Davos meeting reportedly faced an existential threat in the early 2000s after sustained protests stretched the patience of the local community. In response, Schwab opened the meeting to more civil society groups while widening media access to an event that had previously been mostly held behind closed doors.

That move was not "voluntary", said Christian Dorer, the editor-in-chief of Swiss media group Blick, who recently had rare access to Schwab for a profile.

Schwab "realised he had to, otherwise the Forum would be dead," Dorer told AFP, also saying that the WEF founder had changed over the years.

"He was really only attached to the business world, and now he is much more open." Sorbom said her research showed an organisation that tolerated some dissent, up to a point.

"You can voice criticism, but if you are too critical, then you are out, unless you are Bono," she said.

Monck told AFP that if the principle of multi-stakeholder engagement is "not one you can sign up to, then the Forum is not the best platform for your engagement".&nbsp;

One persistent criticism is that WEF meetings, including this week's main annual gathering in Davos, have simply created a safe space for the corporate world to lobby governments without oversight.

Klaus Schwab, who founded the World Economic Forum (WEF), has said his childhood during World War II inspired him to build an organisation that would make the world a better place. His foundation, which hosts many of the world's most powerful, famous and wealthy people at its annual meeting in the Swiss ski resort of Davos, has clearly made an impact. But questions have grown about whether the organisation is meeting its declared goal of "improving the state of the world", with resentment rising against the pro-business Davos agenda, and voters turning instead to populist leaders. One persistent criticism is that WEF meetings, including this week's main annual gathering in Davos, have simply created a safe space for the corporate world to lobby governments without oversight. Schwab was not available for an interview with AFP but the WEF's managing director, Adrian Monck, said in an email that the organisation "subscribes to the highest standards of governance". Schwab, born in Ravensburg, Germany, in 1938, was a little-known business professor at the University of Geneva when in 1971 he founded the WEF's precursor, the European Management Forum. He later broadened the conclave by inviting US business leaders, assembling a prestigious Rolodex as he turned the gathering into a showcase for networking and exchange of ideas. In a 2018 book, two Stockholm University professors chronicled the WEF's evolution, as over time politicians joined the business executives in Davos to give the forum the air of a United Nations, with a few celebrities thrown in. "Against the backdrop of what is perceived to be malfunctioning global governance institutions and stalled international policymaking, the WEF presents itself as offering an alternative," Christina Garsten and Adrienne Sorbom write in "Discreet Power: How the World Economic Forum Shapes Market Agendas". Over the years, success has bred success for the WEF as many of the world's movers and shakers vie to rub shoulders in the Swiss Alps at panel discussions and apres-ski socialising. Newer regional meetings have joined the Davos calendar. The WEF's "fragile authority" relies on proving "that if you want to be part of the global nobility, then you have to be here," Sorbom told AFP. She said the organisation appears to offer something lacking in other international bodies: a venue where the heads of business and government can meet "and possibly come up with some good ideas". But it has "troublesome aspects", she added. With dozens of heads of state and government coming to Davos each year, the WEF can be seen as a body "without a legal mandate to influence global governance yet with an ambition to do so", Garsten and Sorbom write. Oliver Classen of the Swiss NGO Public Eye, which has spearheaded protests and other campaigns to counter the Davos meeting, said the WEF has always been "fully dependent" on the 1,000 companies that support the foundation. Membership to the Forum ranges from the equivalent of $ 60,000 (53,000 euros) to $ 600,000, fees that allow company representatives to attend Davos and other meetings throughout the year. "Schwab seems to have a firm belief that making people talk to each other is an objective that justifies pretty much everything," Classen said. "What he does not realise is that... When the large majority of those people have commercial interests then it is about deal-striking and nothing else." Monck, however, said that for the WEF, "multi-stakeholder engagement... Means respecting the opinions and interests of others". The Davos meeting reportedly faced an existential threat in the early 2000s after sustained protests stretched the patience of the local community. In response, Schwab opened the meeting to more civil society groups while widening media access to an event that had previously been mostly held behind closed doors. That move was not "voluntary", said Christian Dorer, the editor-in-chief of Swiss media group Blick, who recently had rare access to Schwab for a profile. Schwab "realised he had to, otherwise the Forum would be dead," Dorer told AFP, also saying that the WEF founder had changed over the years. "He was really only attached to the business world, and now he is much more open." Sorbom said her research showed an organisation that tolerated some dissent, up to a point. "You can voice criticism, but if you are too critical, then you are out, unless you are Bono," she said. Monck told AFP that if the principle of multi-stakeholder engagement is "not one you can sign up to, then the Forum is not the best platform for your engagement".

Has Davos made the world better?

The World Economic Forum (WEF) still expects US&nbsp;President Donald Trump to attend its annual meeting in the Swiss Alps this week, the forum&#39;s chairman Klaus Schwab said on Sunday.

Schwab made the comments in an interview with Reuters a day after White House budget director Mick Mulvaney said the trip was up in the air because of the federal government shutdown in the United States.

Trump is due to speak at the gathering of politicians, business chiefs and bankers on Friday, the final day of the four-day event.

Asked if he had any indication that Trump&#39;s trip was in flux, Schwab said: &quot;No, we haven&#39;t. Until now we hope that the trip will be maintained ... we&#39;ll see what the final outcome is.&quot;

Heavy snow in the Alps has made travel difficult in many regions given the heightened danger of avalanches.

The main road leading to Davos was covered with snow. The town&#39;s website for avalanche information advised people in nearly 30 residences to seek more secure dwellings for Sunday evening.

Schwab said he wasn&#39;t worried that weather would prevent attendees from coming to the event, which officially starts on Tuesday.

&quot;No, I&#39;m happy because it provides Davos with what it should be -- the aspect of a global village, but a village where you know nature plays still a very important role and, in our discussion, the whole environmental issue will also be at the forefront of what we do here,&quot; he said.

Klaus Schwab made the comments in an interview day after White House budget director Mick Mulvaney said the trip was up in the air because of the federal government shutdown in the United States

The World Economic Forum (WEF) still expects US President Donald Trump to attend its annual meeting in the Swiss Alps this week, the forum's chairman Klaus Schwab said on Sunday. Schwab made the comments in an interview with Reuters a day after White House budget director Mick Mulvaney said the trip was up in the air because of the federal government shutdown in the United States. Trump is due to speak at the gathering of politicians, business chiefs and bankers on Friday, the final day of the four-day event. Asked if he had any indication that Trump's trip was in flux, Schwab said: "No, we haven't. Until now we hope that the trip will be maintained ... we'll see what the final outcome is." Heavy snow in the Alps has made travel difficult in many regions given the heightened danger of avalanches. The main road leading to Davos was covered with snow. The town's website for avalanche information advised people in nearly 30 residences to seek more secure dwellings for Sunday evening. Schwab said he wasn't worried that weather would prevent attendees from coming to the event, which officially starts on Tuesday. "No, I'm happy because it provides Davos with what it should be -- the aspect of a global village, but a village where you know nature plays still a very important role and, in our discussion, the whole environmental issue will also be at the forefront of what we do here," he said.

Despite shutdown, Davos organiser still counting on Trump to attend

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India reacted early and well on COVID-19: World Economic Forum chief Klaus Schwab

Has Davos made the world better?

Despite shutdown, Davos organiser still counting on Trump to attend