Global rich-poor gap is widening, fuelling anger: Reports

Switching from beef to other protein sources can prevent millions of diet-related deaths globally and drastically reduce greenhouse gas emissions, though overall consumption of meat and fish is expected to rise rapidly in countries like India, a new study said Thursday.

The new research, done by the Oxford Martin School for the World Economic Forum (WEF), found that balancing meat consumption with alternative sources of protein can lead to significant health and environmental benefits.

It also found a sustainable food industry and healthier human life can be achieved through further innovation in the development of alternative proteins, livestock production and consumer behaviour, Geneva-based WEF said.

For human health, the research found that switching from beef - the base case of the analysis - to other protein sources could reduce the overall global burden of diet-related deaths by 2.4 per cent, with the number climbing to 5 per cent in high- and upper-middle-income countries.

The report is expected to be discussed at the WEF's annual meeting later this month in Davos, which would be attended by thousands of business, government and civil society leaders from across the world, including from India.

Without giving country-specific figures, it said the findings will be increasingly important given the projected demand for meat from emerging middle classes.

In terms of environmental impact, the study said production of beef alone was responsible for 25 per cent of all food-related greenhouse gas emissions. With demand for protein set to soar, such demand will place huge pressure on the environment.

The report said beef has an emissions intensity of 23.9 kilograms of CO2 equivalent per 200kcal, while beans, insects, wheat and nuts emit 1kilogram or less CO2 equivalent for the same nutritional value. Other sources such as tofu, pork, alga and chicken produce only 3-6 kilograms CO2 equivalent.

The 13 sources of protein analysed in the report included beef, pork and chicken; fruits and vegetables that can be eaten naturally or processed, such as beans and peas; processed non-animal substitutes such as tofu, wheat-gluten products or mycoprotein; and novel products such as cultured meat, insects and alga spirulina.

The WEF's Managing Director Dominic Waughray said it will be impossible to sustainably satisfy the world's future demand for meat.

However, it can be possible to produce enough nutrition for 10 billion people and improve people's health without necessarily giving up meat - even red meat - altogether, through innovation in products, improvements in how we produce beef, pork and chicken, and an effort on the part of the consumer to embrace a more diverse diet, Waughray added.

Citing the OECD-FAO figures, the report said growth in per-capita consumption of meat and fish within Asia between 2018 and 2027 will be highest in India (12 per cent) and China (13 per cent).

During the same period, the total consumption of meat and fish will grow by 25 per cent in India and by 16 per cent in China.

On the other hand, demand for livestock-derived foods is projected to grow rapidly in China with an increased focus on meat, while in India it will be slower with a high concentration on milk.

The study also said a variety of factors will lead to a different development of supportive and cautionary narratives about alternative proteins in Asia compared with Europe and North America.

Among the four key factors, the study listed some countries such as India has a long cultural history of religious vegetarianism.

"In these countries, abstinence from meat has an association with tradition and conservatism, which contrasts with its association with liberalism and the counterculture in the West," it said.

The WEF said the government and regulators need to design rules to govern a wave of new alternative proteins to protect the public from health risks and unsubstantiated claims and to support the various sectors in their transformations.

Switching from beef to other protein sources can prevent millions of diet-related deaths globally and drastically reduce greenhouse gas emissions, though overall consumption of meat and fish is expected to rise rapidly in countries like India, a new study said Thursday.

Switching from beef to other protein sources can prevent millions of diet-related deaths globally and drastically reduce greenhouse gas emissions, though overall consumption of meat and fish is expected to rise rapidly in countries like India, a new study said Thursday. The new research, done by the Oxford Martin School for the World Economic Forum (WEF), found that balancing meat consumption with alternative sources of protein can lead to significant health and environmental benefits. It also found a sustainable food industry and healthier human life can be achieved through further innovation in the development of alternative proteins, livestock production and consumer behaviour, Geneva-based WEF said. For human health, the research found that switching from beef - the base case of the analysis - to other protein sources could reduce the overall global burden of diet-related deaths by 2.4 per cent, with the number climbing to 5 per cent in high- and upper-middle-income countries. The report is expected to be discussed at the WEF's annual meeting later this month in Davos, which would be attended by thousands of business, government and civil society leaders from across the world, including from India. Without giving country-specific figures, it said the findings will be increasingly important given the projected demand for meat from emerging middle classes. In terms of environmental impact, the study said production of beef alone was responsible for 25 per cent of all food-related greenhouse gas emissions. With demand for protein set to soar, such demand will place huge pressure on the environment. The report said beef has an emissions intensity of 23.9 kilograms of CO2 equivalent per 200kcal, while beans, insects, wheat and nuts emit 1kilogram or less CO2 equivalent for the same nutritional value. Other sources such as tofu, pork, alga and chicken produce only 3-6 kilograms CO2 equivalent. The 13 sources of protein analysed in the report included beef, pork and chicken; fruits and vegetables that can be eaten naturally or processed, such as beans and peas; processed non-animal substitutes such as tofu, wheat-gluten products or mycoprotein; and novel products such as cultured meat, insects and alga spirulina. The WEF's Managing Director Dominic Waughray said it will be impossible to sustainably satisfy the world's future demand for meat. However, it can be possible to produce enough nutrition for 10 billion people and improve people's health without necessarily giving up meat - even red meat - altogether, through innovation in products, improvements in how we produce beef, pork and chicken, and an effort on the part of the consumer to embrace a more diverse diet, Waughray added. Citing the OECD-FAO figures, the report said growth in per-capita consumption of meat and fish within Asia between 2018 and 2027 will be highest in India (12 per cent) and China (13 per cent). During the same period, the total consumption of meat and fish will grow by 25 per cent in India and by 16 per cent in China. On the other hand, demand for livestock-derived foods is projected to grow rapidly in China with an increased focus on meat, while in India it will be slower with a high concentration on milk. The study also said a variety of factors will lead to a different development of supportive and cautionary narratives about alternative proteins in Asia compared with Europe and North America. Among the four key factors, the study listed some countries such as India has a long cultural history of religious vegetarianism. "In these countries, abstinence from meat has an association with tradition and conservatism, which contrasts with its association with liberalism and the counterculture in the West," it said. The WEF said the government and regulators need to design rules to govern a wave of new alternative proteins to protect the public from health risks and unsubstantiated claims and to support the various sectors in their transformations.

Giving up beef could reduce diet-related deaths by 5%: World Economic Forum 

Switzerland's nine-year streak as the world's most competitive economy came to an end on Wednesday, dethroned by the United States in an annual league table published by the World Economic Forum (WEF).

However, India slipped to 58th place, a big slide from 40th under the old methodology last year.&nbsp;

A root-and-branch revamp of the WEF's rankings, reoriented towards future technology-driven growth, pushed Switzerland into fourth place, with Singapore second and Germany third out of 140 countries, each marked on a scale from 0 to 100.

"The US scores 85.6 which essentially means it’s still about 14 points away from that frontier of competitiveness," said Saadia Zahidi, a member of the WEF's managing board.

The United States was "an innovation powerhouse" with flexible labour and a big market, Zahidi said.

"They do fairly well in terms of institutions but there are also a lot of worrying signs," she said.

"The US is one of the lowest ranked G20 economies when it comes to health, there are concerns about freedom of the press, there are concerns about judicial independence ... softer factors that could have an implication for the country’s competitiveness in the longer term."

The old rankings had docked marks from the United States for its macroeconomic environment, high government debt being a particular weakness. But the new rankings awarded it 99.2 for "debt dynamics", an almost perfect score.

WEF experts denied that the analysis had been remodelled to flatter US President Trump, who topped the bill at the WEF's annual meeting at Davos in January, bringing his "America First" message to the world's elite.

"The old index and the new index are apples and oranges. The reason the new index has been built is because we’ve learned so much about what drives economic growth and growth in income in the long term," Zahidi said.

The 98 indicators in the index were drawn from international organisations and a survey of company executives and largely reflected long-term policies such as investing in digital skills, she said.

That means Switzerland could take a while to win back its crown. Zahidi said it was a pillar of innovation but needed to work on its entrepreneurial mindset.

"You need to be able to have this ability to take risks and to use some of these newer technologies to actually create businesses. And not just to create businesses but to take them all the way from idea to actual commercialisation," she said.

Further down the rankings, China was in 28th place, Russia was 43rd.

Saudi Arabia came 39th, a placing that "could potentially be affected" by the unfolding story of missing Saudi journalist Jamal Khashoggi, Zahidi said.

The bottom 30 were almost exclusively African countries, although Haiti and Yemen squeezed ahead of last-placed Chad, which scored 35.5.

Switzerland's nine-year streak as the world's most competitive economy came to an end on Wednesday, dethroned by the United States in an annual league table published by the World Economic Forum (WEF).

Switzerland's nine-year streak as the world's most competitive economy came to an end on Wednesday, dethroned by the United States in an annual league table published by the World Economic Forum (WEF). However, India slipped to 58th place, a big slide from 40th under the old methodology last year. A root-and-branch revamp of the WEF's rankings, reoriented towards future technology-driven growth, pushed Switzerland into fourth place, with Singapore second and Germany third out of 140 countries, each marked on a scale from 0 to 100. "The US scores 85.6 which essentially means it’s still about 14 points away from that frontier of competitiveness," said Saadia Zahidi, a member of the WEF's managing board. The United States was "an innovation powerhouse" with flexible labour and a big market, Zahidi said. "They do fairly well in terms of institutions but there are also a lot of worrying signs," she said. "The US is one of the lowest ranked G20 economies when it comes to health, there are concerns about freedom of the press, there are concerns about judicial independence ... softer factors that could have an implication for the country’s competitiveness in the longer term." The old rankings had docked marks from the United States for its macroeconomic environment, high government debt being a particular weakness. But the new rankings awarded it 99.2 for "debt dynamics", an almost perfect score. WEF experts denied that the analysis had been remodelled to flatter US President Trump, who topped the bill at the WEF's annual meeting at Davos in January, bringing his "America First" message to the world's elite. "The old index and the new index are apples and oranges. The reason the new index has been built is because we’ve learned so much about what drives economic growth and growth in income in the long term," Zahidi said. The 98 indicators in the index were drawn from international organisations and a survey of company executives and largely reflected long-term policies such as investing in digital skills, she said. That means Switzerland could take a while to win back its crown. Zahidi said it was a pillar of innovation but needed to work on its entrepreneurial mindset. "You need to be able to have this ability to take risks and to use some of these newer technologies to actually create businesses. And not just to create businesses but to take them all the way from idea to actual commercialisation," she said. Further down the rankings, China was in 28th place, Russia was 43rd. Saudi Arabia came 39th, a placing that "could potentially be affected" by the unfolding story of missing Saudi journalist Jamal Khashoggi, Zahidi said. The bottom 30 were almost exclusively African countries, although Haiti and Yemen squeezed ahead of last-placed Chad, which scored 35.5.

US dethrones Switzerland in 'competitive economy' race; India slips dramatically

US ranked no.1 in  WEF "Global Competitiveness Report"

World Economic Forum President Borge Brende was in New Delhi recently. Brende, who is the former foreign minister of Norway, spoke extensively with WION's Principal Diplomatic Correspondent Sidhant Sibal on a host of issues from #MeToo, to global economic growth, to India's reform process.&nbsp;

Sidhant Sibal: What brings you here?&nbsp; 
Borge Brende: We are formally marking the opening of the centre for the 4th Industrial Revolution. It's a cooperation between WEF and important businesses. It's a follow up of PM Modi's speech at Davos that India will leapfrog and will be on top of 4th Industrial Revolution. It is a great collaboration.&nbsp;

SS: How do you see India's reform process? 
BB: Indian economy is doing well. But one can't be complacent. India is the sixth-largest economy and seeing the fastest economic growth of any of the leading economies. Eight per cent growth expected this year is an achievement. To keep that kind of growth in a difficult environment where we are seeing a lot of risk factors — overheating, inflationary pressure — India needs to keep reform going.

SS: And ease of doing business has improved in the country... 
BB: That is positive and I hope this will continue. There should be Investment in education and infrastructure moving forward and make sure India is leading in new technologies like blockchain, artificial intelligence and drones.

SS: The focus of your visit is the 4th Industrial Revolution. What are its basic pillars? 
BB: 4th Industrial Revolution is really technologies being introduced that are changing things at an unprecedented pace. Artificial intelligence is one piece of it. We have 3D printing, block chains, precision medicine, autonomous vehicles and if you're not on top of it, you are going to lose out to international competition. For India which has a young population, these are great opportunities provided you have necessary skills in mathematics, and also in computer science.

SS: India has programmes like Digital India or payment platforms like BHIM. What would you say about them? 
BB: These reforms are critical. They are not sufficient because in the 4th Industrial Revolution we will need skills and world-class education. It is very important to make sure that the young population has access to quality education based on that you can make sure you have right abilities to capitalise of opportunities. 1.3 billion people can have positive outcomes of these technologies.&nbsp;

SS: Trade war has broken out. There is political protectionism. How will it impact global growth? 
BB: The world economy is looking strong. 3.8% economic growth this year and also next year but you are right, there are risk factors that need to be addressed. Trade is one of them. Trade has changed a lot in the last decade. If you say this is made in India due to the global value chain, maybe 50% is produced somewhere else. It's put together in India. So trade barriers and tariffs can also hurt existing industries in countries that are introducing these barriers. In a globalised world, all are in the same boat and we have to act accordingly. Currently, we are not seeing this. There are opportunities to solve this. There were big challenges on NAFTA — between US, Mexico and Canada. They agreed on a new trade deal, hope this spirit will reach other trade negotiations.

SS: What is your take on the #MeToo movement? It is gathering pace in India...&nbsp; 
BB: &nbsp;Gender and rights of women are very important. What we have seen at WEF and also via reports, companies that take gender issues and sustainable issues very seriously, recruit smarter people and best people. These companies move from capitalism to talentism. These companies are more profitable. They recruit better talent. Young people want to work in progressive companies.

World Economic Forum President Borge Brende was in New Delhi recently. Brende, who is the former foreign minister of Norway, spoke extensively with WION's Principal Diplomatic Correspondent Sidhant Sibal on a host of issues from #MeToo, to global economic growth, to India's reform process.

World Economic Forum President Borge Brende was in New Delhi recently. Brende, who is the former foreign minister of Norway, spoke extensively with WION's Principal Diplomatic Correspondent Sidhant Sibal on a host of issues from #MeToo, to global economic growth, to India's reform process. Sidhant Sibal: What brings you here? Borge Brende: We are formally marking the opening of the centre for the 4th Industrial Revolution. It's a cooperation between WEF and important businesses. It's a follow up of PM Modi's speech at Davos that India will leapfrog and will be on top of 4th Industrial Revolution. It is a great collaboration. SS: How do you see India's reform process? BB: Indian economy is doing well. But one can't be complacent. India is the sixth-largest economy and seeing the fastest economic growth of any of the leading economies. Eight per cent growth expected this year is an achievement. To keep that kind of growth in a difficult environment where we are seeing a lot of risk factors — overheating, inflationary pressure — India needs to keep reform going. SS: And ease of doing business has improved in the country... BB: That is positive and I hope this will continue. There should be Investment in education and infrastructure moving forward and make sure India is leading in new technologies like blockchain, artificial intelligence and drones. SS: The focus of your visit is the 4th Industrial Revolution. What are its basic pillars? BB: 4th Industrial Revolution is really technologies being introduced that are changing things at an unprecedented pace. Artificial intelligence is one piece of it. We have 3D printing, block chains, precision medicine, autonomous vehicles and if you're not on top of it, you are going to lose out to international competition. For India which has a young population, these are great opportunities provided you have necessary skills in mathematics, and also in computer science. SS: India has programmes like Digital India or payment platforms like BHIM. What would you say about them? BB: These reforms are critical. They are not sufficient because in the 4th Industrial Revolution we will need skills and world-class education. It is very important to make sure that the young population has access to quality education based on that you can make sure you have right abilities to capitalise of opportunities. 1.3 billion people can have positive outcomes of these technologies. SS: Trade war has broken out. There is political protectionism. How will it impact global growth? BB: The world economy is looking strong. 3.8% economic growth this year and also next year but you are right, there are risk factors that need to be addressed. Trade is one of them. Trade has changed a lot in the last decade. If you say this is made in India due to the global value chain, maybe 50% is produced somewhere else. It's put together in India. So trade barriers and tariffs can also hurt existing industries in countries that are introducing these barriers. In a globalised world, all are in the same boat and we have to act accordingly. Currently, we are not seeing this. There are opportunities to solve this. There were big challenges on NAFTA — between US, Mexico and Canada. They agreed on a new trade deal, hope this spirit will reach other trade negotiations. SS: What is your take on the #MeToo movement? It is gathering pace in India... BB: Gender and rights of women are very important. What we have seen at WEF and also via reports, companies that take gender issues and sustainable issues very seriously, recruit smarter people and best people. These companies move from capitalism to talentism. These companies are more profitable. They recruit better talent. Young people want to work in progressive companies.

Indian economy doing well but one can't be complacent: WEF President to WION

BJP Chief Amit Shah has given clarifications over the accusations put up by Congress party which state that the charges on <a href="http://www.wionews.com/india-news/who-is-nirav-modi-the-billionaire-jeweller-at-centre-of-rs-11000-crore-scam-32970" target="_blank">Nirav Modi </a>were proved when he shared the stage with the Prime Minister in Davos at World Economic Forum.&nbsp;

Clarifying the allegations of the opposition party Amit Shah said &quot;&nbsp;Photographs prove nothing, even you people are sitting with me &amp; if one of you commits a crime will you make me liable too? As far as Nirav Modi case is concerned Centre has taken it seriously and already seized more than 5 thousand crore assets&quot;.

The Congress&#39;&nbsp;allegations surfaced after pictures from the event showed Nirav Modi sharing the dais with PM Modi in the event.&nbsp;

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet" data-lang="en">
Photographs(Nirav Modi Davos photo) prove nothing,even you people are sitting with me &amp; if one of you commits a crime will you make me liable too? As far as <a href="https://twitter.com/hashtag/NiravModi?src=hash&amp;ref_src=twsrc%5Etfw">#NiravModi</a> case is concerned Centre has taken it seriously and already seized more than 5 thousand crore assets: Amit Shah <a href="https://t.co/a6QUz0DAE1">pic.twitter.com/a6QUz0DAE1</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/965923953171673088?ref_src=twsrc%5Etfw">February 20, 2018</a></blockquote>
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Earlier Union Minister Ravi Shankar Prasad had also issued explaination on the matter saying that Nirav Modi was not part of the Prime Minister&#39;s delegation during his visit to Davos at World Economic Forum.&nbsp;

&nbsp;

Clarifying the allegations of the Congress Amit Shah said 'Photographs prove nothing, even you people are sitting with me & if one of you commits a crime will you make me liable too? As far as Nirav Modi case is concerned Centre has taken it seriously and already seized over 5000 crore assets

BJP Chief Amit Shah has given clarifications over the accusations put up by Congress party which state that the charges on Nirav Modi were proved when he shared the stage with the Prime Minister in Davos at World Economic Forum. Clarifying the allegations of the opposition party Amit Shah said " Photographs prove nothing, even you people are sitting with me & if one of you commits a crime will you make me liable too? As far as Nirav Modi case is concerned Centre has taken it seriously and already seized more than 5 thousand crore assets". The Congress' allegations surfaced after pictures from the event showed Nirav Modi sharing the dais with PM Modi in the event. Photographs(Nirav Modi Davos photo) prove nothing,even you people are sitting with me & if one of you commits a crime will you make me liable too? As far as #NiravModi case is concerned Centre has taken it seriously and already seized more than 5 thousand crore assets: Amit Shah pic.twitter.com/a6QUz0DAE1 — ANI (@ANI) February 20, 2018 × Earlier Union Minister Ravi Shankar Prasad had also issued explaination on the matter saying that Nirav Modi was not part of the Prime Minister's delegation during his visit to Davos at World Economic Forum.

Photographs of PM Modi with Nirav Modi prove nothing: Amit Shah

PM Modi prefers all kinds of <a href="http://www.wionews.com/india-news/pm-modi-to-meet-swiss-president-berset-today-at-davos-30341">food, provided it is vegetarian</a>, the chief chef accompanying the prime minister at Davos said today.

A group of 32 chefs including <a href="http://www.wionews.com/india-news/look-forward-to-first-visit-at-world-economic-forum-pm-modi-30319">managers catering to Indian </a><a href="http://www.wionews.com/india-news/look-forward-to-first-visit-at-world-economic-forum-pm-modi-30319">adda</a><a href="http://www.wionews.com/india-news/look-forward-to-first-visit-at-world-economic-forum-pm-modi-30319"> </a>and India reception will be available for the Indian delegation during the World Economic Forum at Davos.

PM&#39;s private kitchen will be serving food for nearly 12,000 people, according to reports.&nbsp;

Iss thand me bhajia aur samosa mil jaye toh kya baat hai( in winters, if we get bhujia and samosa, it is great), chief chef Raghu Deora said before leaving for the World Economic Summit.

Ghar ka swad Davos mein, 1,000 kg masala le ke aye hai Davos mein(the taste of home in Davos, we have 1,000 kg masala for the summit), the chief chef said.

PM Modi will be having food at three different venues with the cuisine set to change every day.

PM Modi will be having food at three different venues with the cuisine set to change every day

PM Modi prefers all kinds of food, provided it is vegetarian, the chief chef accompanying the prime minister at Davos said today. A group of 32 chefs including managers catering to Indian adda and India reception will be available for the Indian delegation during the World Economic Forum at Davos. PM's private kitchen will be serving food for nearly 12,000 people, according to reports. Iss thand me bhajia aur samosa mil jaye toh kya baat hai( in winters, if we get bhujia and samosa, it is great), chief chef Raghu Deora said before leaving for the World Economic Summit. Ghar ka swad Davos mein, 1,000 kg masala le ke aye hai Davos mein(the taste of home in Davos, we have 1,000 kg masala for the summit), the chief chef said. PM Modi will be having food at three different venues with the cuisine set to change every day.

Watch: PM Modi's kitchen carrying 1,000 kg masala to Davos

Former RBI Governor Raghuram Rajan today said the Western world must realise they cannot go a long way without the help of the emerging economies and warned that no one would be able to resolve any problem of a &#39;fractured world&#39; if things are not set right soon.

Without naming any country, he said the West must realise that their population is ageing and the demand for their products would mostly come from the emerging world.

Speaking here at a session of the World Economic Forum (WEF) Annual Meeting, Rajan said there is a risk that by the time the West goes to the emerging world for their support, they may have to answer quite a few questions about why they did not share the benefits earlier.

He warned that the approach of the Western world must change soon for the good, or else there may be a chance that we are not able to solve any of the problems of the &#39;fractured world&#39;.

About issues facing the Western world, he listed technology, ageing population and climate change.

Rajan was speaking at a session on the power of economic narratives and how policymakers can address the challenges of the 21st century.

He said some governments such as Singapore have done something to address the problems arising out of income inequality and the divisions in the society by setting up housing projects where middle class and lower middle class families can live together.

Rajan said he&#39;s not sure about the US but some countries are doing things in this area and certainly, the governments can play a role here.

The Chicago University professor is known for his frank views on various economic and monetary policy matters and is credited with having predicted the global financial crisis of 2007.

Rajan also took on the economists who frown upon the idea of economic narratives and said it has become difficult to make people believe in them for setting things right.

&quot;When the economist hears the word narratives and stories he thinks it&#39;s below me. They believe they are beyond the tradition of narratives,&quot; he said.

Post World War II, we realised we have to come together once again and we need to break barriers of trade and everything else, he said.

Asked whether he is optimistic or pessimistic on the issue of narratives, Rajan said politicians just pick the economic theory that fits in their scheme of things but he hopes things do not go out of hand and there is a solution before that.

He also said that for a long time technocrats were given a free hand.

&quot;That pushed growth for a long time but then frictions began including between right and the left,&quot; Rajan said, adding that since the global financial crisis, the world has begun to question the technocrats.

He cautioned that the economists have a much harder task today and there are a lot of answers that they need to come up with.

&quot;But the even harder task is to convince people that believe us and we will set things right,&quot; he said.

Rajan said we should realise that big ideas are always thought at least 15-20 years in advance.

&quot;So if we talk about universal basic income, we can&#39;t brush it aside and today we are seeing people are talking about it,&quot; he said while giving examples.

In another example, he said driverless cars are on the horizon today but we should also assess their impact on jobs.

&quot;We need to think what we are going to do when these people go jobless once driverless cars become widespread reality on our roads,&quot; he said.

Without naming any country, he said the West must realise that their population is ageing and the demand for their products would mostly come from the emerging world

Former RBI Governor Raghuram Rajan today said the Western world must realise they cannot go a long way without the help of the emerging economies and warned that no one would be able to resolve any problem of a 'fractured world' if things are not set right soon. Without naming any country, he said the West must realise that their population is ageing and the demand for their products would mostly come from the emerging world. Speaking here at a session of the World Economic Forum (WEF) Annual Meeting, Rajan said there is a risk that by the time the West goes to the emerging world for their support, they may have to answer quite a few questions about why they did not share the benefits earlier. He warned that the approach of the Western world must change soon for the good, or else there may be a chance that we are not able to solve any of the problems of the 'fractured world'. About issues facing the Western world, he listed technology, ageing population and climate change. Rajan was speaking at a session on the power of economic narratives and how policymakers can address the challenges of the 21st century. He said some governments such as Singapore have done something to address the problems arising out of income inequality and the divisions in the society by setting up housing projects where middle class and lower middle class families can live together. Rajan said he's not sure about the US but some countries are doing things in this area and certainly, the governments can play a role here. The Chicago University professor is known for his frank views on various economic and monetary policy matters and is credited with having predicted the global financial crisis of 2007. Rajan also took on the economists who frown upon the idea of economic narratives and said it has become difficult to make people believe in them for setting things right. "When the economist hears the word narratives and stories he thinks it's below me. They believe they are beyond the tradition of narratives," he said. Post World War II, we realised we have to come together once again and we need to break barriers of trade and everything else, he said. Asked whether he is optimistic or pessimistic on the issue of narratives, Rajan said politicians just pick the economic theory that fits in their scheme of things but he hopes things do not go out of hand and there is a solution before that. He also said that for a long time technocrats were given a free hand. "That pushed growth for a long time but then frictions began including between right and the left," Rajan said, adding that since the global financial crisis, the world has begun to question the technocrats. He cautioned that the economists have a much harder task today and there are a lot of answers that they need to come up with. "But the even harder task is to convince people that believe us and we will set things right," he said. Rajan said we should realise that big ideas are always thought at least 15-20 years in advance. "So if we talk about universal basic income, we can't brush it aside and today we are seeing people are talking about it," he said while giving examples. In another example, he said driverless cars are on the horizon today but we should also assess their impact on jobs. "We need to think what we are going to do when these people go jobless once driverless cars become widespread reality on our roads," he said.

West must share benefits of growth with emerging world: Rajan

Harry Potter was an unheard name, tweeting was done only by birds and Amazon referred to dense forests in 1997, Prime Minister Narendra Modi said today to stress upon the changes the world has seen in the past 20 years.

Addressing the World Economic Forum (WEF) Annual Meeting, Modi said he is the first Indian Prime Minister to come here since H D Deve Gowda in 1997. The Indian economy has changed significantly since then and so has the rest of the world, he noted.

Speaking mostly in Hindi, Modi thanked WEF and the Swiss government for the reception accorded to him.

He also recalled that when Deve Gowda came here in 1997, the theme of the WEF summit was building a networked society. That theme now looks centuries-old as the world today is about big data and so many other new developments, the prime minister said.

Modi said very few people in 1997 had heard of Osama bin Laden and even Harry Potter was an unheard name.

&quot;Also, chess players did not have any big fear of the computer while Google was not there in cyberspace and Amazon of that time was about dense forests. Tweeting was done by birds at that time and not by humans,&quot; he said.

Modi, however, said at that time also, Davos was ahead of its time and was known for WEF. It is ahead of the times today as well with the theme of &#39;Creating a shared future in a fractured world&#39;.

&quot;The world is changing fast today and there are new and serious challenges related to peace and security and various other matters.

&quot;We believe in linking people, not bending them or breaking them. But the challenges the world faces are as numerous as they are daunting.

&quot;Mountains of data are getting created and there is a race to control those as the feeling is that the one who gets control of this data would rule the world,&quot; he said.

Modi said very few people in 1997 had heard of Osama bin Laden and even Harry Potter was an unheard name

Harry Potter was an unheard name, tweeting was done only by birds and Amazon referred to dense forests in 1997, Prime Minister Narendra Modi said today to stress upon the changes the world has seen in the past 20 years. Addressing the World Economic Forum (WEF) Annual Meeting, Modi said he is the first Indian Prime Minister to come here since H D Deve Gowda in 1997. The Indian economy has changed significantly since then and so has the rest of the world, he noted. Speaking mostly in Hindi, Modi thanked WEF and the Swiss government for the reception accorded to him. He also recalled that when Deve Gowda came here in 1997, the theme of the WEF summit was building a networked society. That theme now looks centuries-old as the world today is about big data and so many other new developments, the prime minister said. Modi said very few people in 1997 had heard of Osama bin Laden and even Harry Potter was an unheard name. "Also, chess players did not have any big fear of the computer while Google was not there in cyberspace and Amazon of that time was about dense forests. Tweeting was done by birds at that time and not by humans," he said. Modi, however, said at that time also, Davos was ahead of its time and was known for WEF. It is ahead of the times today as well with the theme of 'Creating a shared future in a fractured world'. "The world is changing fast today and there are new and serious challenges related to peace and security and various other matters. "We believe in linking people, not bending them or breaking them. But the challenges the world faces are as numerous as they are daunting. "Mountains of data are getting created and there is a race to control those as the feeling is that the one who gets control of this data would rule the world," he said.

When tweeting was done by birds and Amazon was a jungle: PM Modi recalls 1997

As he <a href="http://www.wionews.com/india-news/pm-modi-leaves-for-davos-for-world-economic-forum-30284">left for Davos</a>, Prime Minister Narendra Modi posted on Facebook, a picture of himself on a poster in the Swiss city captioned &quot;India means business.&quot;

The poster has been placed outside a hotel in the snow-capped town.

The prime minister also wrote on Facebook that he looked forward to &quot;my first visit to the World Economic Forum (WEF) at Davos, at the invitation of India&rsquo;s good friend and Founder of the WEF, Prof Klaus Schwab.&quot;&nbsp;

&quot;I look forward to my first visit to the World Economic Forum at Davos, at the invitation of India&rsquo;s good friend and Founder of the WEF, Prof Klaus Schwab. The theme of the Forum, &ldquo;Creating a Shared Future in a Fractured World&rdquo; is both thoughtful and apt.

The existing and emerging challenges to the contemporary international system and global governance architecture deserve serious attention of leaders, governments, policy makers, corporates and civil societies around the world.

In recent years, India&rsquo;s engagement with the outside world has become truly and effectively multi-dimensional covering the political, economic, people to people, security and other spheres,&quot; read PM Modi&#39;s Facebook post.

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PM Modi is scheduled to deliver a keynote address on Tuesday.&nbsp;

PM Modi will also hold bilateral talks with the President of Swiss Confederation, Alain Berset, besides holding a series of meetings with business leaders and addressing the international business council.

The prime minister wrote on Twitter yesterday that he looked forward &quot;to sharing my vision for India&rsquo;s future engagement with the international community.&quot; He also wrote that he was confident that the bilateral meetings would be &quot;fruitful&quot;.&nbsp;

PM Modi will be the first Indian Prime Minister to participate in the World Economic Forum in two decades after HD Deve Gowda who visited Davos in 1997.

 
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The prime minister also wrote on Facebook that he looked forward to 'my first visit to the World Economic Forum at Davos, at the invitation of India’s good friend and Founder of the WEF, Prof Klaus Schwab'

As he left for Davos, Prime Minister Narendra Modi posted on Facebook, a picture of himself on a poster in the Swiss city captioned "India means business." The poster has been placed outside a hotel in the snow-capped town. The prime minister also wrote on Facebook that he looked forward to "my first visit to the World Economic Forum (WEF) at Davos, at the invitation of India’s good friend and Founder of the WEF, Prof Klaus Schwab." "I look forward to my first visit to the World Economic Forum at Davos, at the invitation of India’s good friend and Founder of the WEF, Prof Klaus Schwab. The theme of the Forum, “Creating a Shared Future in a Fractured World” is both thoughtful and apt. The existing and emerging challenges to the contemporary international system and global governance architecture deserve serious attention of leaders, governments, policy makers, corporates and civil societies around the world. In recent years, India’s engagement with the outside world has become truly and effectively multi-dimensional covering the political, economic, people to people, security and other spheres," read PM Modi's Facebook post. × PM Modi is scheduled to deliver a keynote address on Tuesday. PM Modi will also hold bilateral talks with the President of Swiss Confederation, Alain Berset, besides holding a series of meetings with business leaders and addressing the international business council. The prime minister wrote on Twitter yesterday that he looked forward "to sharing my vision for India’s future engagement with the international community." He also wrote that he was confident that the bilateral meetings would be "fruitful". PM Modi will be the first Indian Prime Minister to participate in the World Economic Forum in two decades after HD Deve Gowda who visited Davos in 1997.

Look forward to first visit at World Economic Forum: PM Modi

PM Modi will be participating in the World Economic Forum at Davos, Switzerland on January 23, the last time an Indian PM showed up at the high table of economic greats was H.D. Deve Gowda in 1997.

The Davos forum will be attended by at least 350 leaders from around the world, including 60 heads of state.

The Davos meeting&nbsp;clearly hasn&#39;t&nbsp;captured the imagination of India&#39;s top men in the past.&nbsp;PM Modi has decided to seize the moment this time as &quot;India&#39;s representative&quot;.

Modi&#39;s agenda will involve networking with the world&#39;s best, including meeting Trump&#39;s business team.&nbsp;

Modi won&#39;t be turning up at Davos alone, he will be accompanied by a host of top ministers, including finance minister Arun Jaitley, Railway minister Suresh Prabhu, Commerce &amp; Industry minister Piyush Goyal, Petroleum minister Dharmendra Pradhan among others.

Modi&#39;s ministers are set to represent India in 25 sessions at Davos where they will share the PM&#39;s vision of transforming the country into a &quot;new India&quot; by 2022.

India&#39;s Chamber of Commerce and Industry(CII) will also chip in with roundtables with potential investors.

President Trump would be in Davos to promote&nbsp;&quot;America First&quot; as informed by the White House, Modi&#39;s pitch is expected to be similar. India needs more investment in virtually every sector, a fact pointed out by the World Bank.

India&#39;s pitch at Davos is likely to mirror Modi&#39;s campaign in the next 14 months in the run-up&nbsp;to the general elections in 2019. Post-demonisation, India&#39;s GDP has fallen and GST hasn&#39;t really taken off but the &quot;India story&quot; has resonated worldwide because of India&#39;s perceived stability and strong fundamentals, however, the road ahead could be rocky if India fails to get its act together, especially PM Modi.

It is time India moved away from merely being tagged as a &quot;potential&quot; growth engine considering the fact that next-door neighbour&nbsp;China is ready to replace the US in the growth story sweepstakes.

PM Modi will have to push ahead with his &quot;New India 2022&quot;&nbsp;vision soon, a delay could&nbsp;prove disastrous with elections around the corner.

The Modi government&#39;s four-year report card has been poor on generating growth, the only sweet spot being stability and continuity in economic growth but the government has mainly played it safe, avoiding&nbsp;big bang reforms.

Experts would be looking very closely at Modi in&nbsp;Davos, his meeting with Trump might get the eyeballs but the real battle would be behind the scenes, in closed-door meetings aimed at boosting investment in India.

The window of opportunity is rather small for the current government, India@2018 stands at&nbsp;crossroads, Modi&#39;s definition&nbsp;of India in the next 1 year could make-or-break India&#39;s economy.&nbsp;

&nbsp;

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL).

&nbsp;

 
&nbsp;

Modi's ministers are set to represent India in 25 sessions at Davos where they will share the PM's vision of transforming the country into a "new India" by 2022.

PM Modi will be participating in the World Economic Forum at Davos, Switzerland on January 23, the last time an Indian PM showed up at the high table of economic greats was H.D. Deve Gowda in 1997. The Davos forum will be attended by at least 350 leaders from around the world, including 60 heads of state. The Davos meeting clearly hasn't captured the imagination of India's top men in the past. PM Modi has decided to seize the moment this time as "India's representative". Modi's agenda will involve networking with the world's best, including meeting Trump's business team. Modi won't be turning up at Davos alone, he will be accompanied by a host of top ministers, including finance minister Arun Jaitley, Railway minister Suresh Prabhu, Commerce & Industry minister Piyush Goyal, Petroleum minister Dharmendra Pradhan among others. Modi's ministers are set to represent India in 25 sessions at Davos where they will share the PM's vision of transforming the country into a "new India" by 2022. India's Chamber of Commerce and Industry(CII) will also chip in with roundtables with potential investors. President Trump would be in Davos to promote "America First" as informed by the White House, Modi's pitch is expected to be similar. India needs more investment in virtually every sector, a fact pointed out by the World Bank. India's pitch at Davos is likely to mirror Modi's campaign in the next 14 months in the run-up to the general elections in 2019. Post-demonisation, India's GDP has fallen and GST hasn't really taken off but the "India story" has resonated worldwide because of India's perceived stability and strong fundamentals, however, the road ahead could be rocky if India fails to get its act together, especially PM Modi. It is time India moved away from merely being tagged as a "potential" growth engine considering the fact that next-door neighbour China is ready to replace the US in the growth story sweepstakes. PM Modi will have to push ahead with his "New India 2022" vision soon, a delay could prove disastrous with elections around the corner. The Modi government's four-year report card has been poor on generating growth, the only sweet spot being stability and continuity in economic growth but the government has mainly played it safe, avoiding big bang reforms. Experts would be looking very closely at Modi in Davos, his meeting with Trump might get the eyeballs but the real battle would be behind the scenes, in closed-door meetings aimed at boosting investment in India. The window of opportunity is rather small for the current government, India@2018 stands at crossroads, Modi's definition of India in the next 1 year could make-or-break India's economy. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL).

Opinion: Modi is the first PM in 20 years to visit World Economic Forum

With exquisite desi cuisine on the platter and live yoga sessions on display, the annual Swiss jamboree of the rich and powerful from &quot;a fractured world&quot; will begin tomorrow in Davos where Prime Minister Narendra Modi is expected to pitch India as a growth engine for the global economy.

Over 3,000 world leaders from business, politics, art, academia and civil society will attend the 48th World Economic Forum (WEF) Annual Meeting over the next five days in the small ski resort town on snow-covered Alps mountains, where the Indian presence will be the largest ever with over 130 participants.

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For the first time, <a href="https://twitter.com/hashtag/Yoga?src=hash&amp;ref_src=twsrc%5Etfw">#Yoga</a> will be performed on the platform of World Economic Forum. Two of our Aacharyas will be leaving for Davos today &amp; will be taking two sessions, one each in the morning &amp; evening: Yoga Guru Baba Ramdev <a href="https://t.co/1BcBA6Gt5T">pic.twitter.com/1BcBA6Gt5T</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/954976592714899456?ref_src=twsrc%5Etfw">January 21, 2018</a></blockquote>
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WEF Chairman Klaus Schwab will declare the summit open tomorrow evening with a welcome message on the meeting&#39;s theme, &#39;Creating a Shared Future in a Fractured World&#39;.

It will be followed by honouring Bollywood superstar Shahrukh Khan, Australian actress Cate Blanchett and legendary musician Elton John with the annual &#39;Crystal Awards&#39; for their respective work towards improving the state of the world.

The evening will also see a ballet performance, while India will host the &#39;welcome reception&#39; with the country&#39;s &quot;exquisite cuisine and age-hold Yoga heritage as well as the spirit of a young, innovative New India&quot;.

The official sessions will begin on Tuesday when Modi will deliver the &#39;opening plenary&#39;, during which he is expected to pitch India as an open economy that is ready for investments from across the world and also as a major engine to drive the global economic growth.

Modi is the first Indian Prime Minister to attend Davos meeting in about 20 years since H D Deve Gowda in 1997.

During his 24-hour-visit, described by officials as &quot;short but very focused&quot;, Modi will also host a dinner for CEOs from across the world -- 20 of Indian companies and 40 from elsewhere -- on Monday evening and will interact with a large gathering of 120 members of WEF&#39;s international business community on Tuesday.

Besides, he will hold a bilateral meeting with Swiss President Alain Berset, among other pull-asides, as per the government officials.

Modi will be accompanied by six union ministers -- Arun Jaitley, Suresh Prabhu, Piyush Goyal, Dharmendra Pradhan, M J Akbar and Jitendra Singh.

The CEO delegation, led by apex industry body CII, will include Mukesh Ambani, Gautam Adani, Azim Premji, Rahul Bajaj, N Chandrasekaran, Chanda Kochhar, Uday Kotak and Ajay Singh, among others.

Among global leaders, US President Donald Trump will be there to deliver the closing address, but any meeting with Prime Minister Modi is unlikely as the two would not be in town on the same day.

Pakistani Prime Minister Shahid Khaqan Abbasi will also be in Davos, but officials in India have said no meeting is planned between him and Modi.

German Chancellor Angela Merkel, Italian Prime Minister Paolo Gentiloni, European Commission President Jean-Claude Juncker, French President Emmanuel Macron, UK Prime Minister Theresa May and Canadian Prime Minister Justin Trudeau are among the other attendees.

While Trump is expected to talk about his &#39;America First&#39; policy, officials in India said Modi&#39;s central message at this multilateral forum will be about India being an economy that can be an engine of global growth and which wants others to participate in its growth and also wants to contribute to others&#39; development.

A lot of focus is expected on what Trump says and what would be the response of other world leaders, including from Germany, France and the UK.

Ahead of the summit, an annual WEF survey, likely to be discussed in detail during the meeting, showed that the world will see risks related to environment, economy and international relations intensify this year with a majority of stakeholders expecting political or economic confrontations between major powers to worsen.

In a first at the WEF summit, India will also host yoga training sessions for the entire duration of the meeting, while also showcasing Indian heritage and culture in Davos.

On the sidelines of the WEF summit, the Swiss government will also host the annual informal WTO ministerial meeting, which will be attended by Commerce Minister Suresh Prabhu and his global counterparts.

According to a Swiss government statement, negotiations on a bilateral investment protection pact and the envisaged free trade agreement between India and the European Free Trade Association (EFTA), of which Switzerland is a member, will figure prominently during Modi&#39;s meeting with Berset.

Modi is expected to encapsulate making of &#39;a new, young and innovative India&#39;, while he is also expected to talk about his experience with &#39;cooperative federalism&#39; in India, while urging the world for a collective crackdown on terrorism, economic imbalances, cyber threats and various societal ills.

According to officials, Modi will also talk about numerous steps they have taken to make it easier to do business in India, check corruption, clamp down on black money, streamline taxation and boost sustainable growth.

Another star speaker will be ex-RBI Governor Raghuram Rajan, who has been praised as well as criticised often for his vocal views on everything from politics to economics and is credited for predicting the global economic crisis of 2008. He will speak on the power of economic narratives and how policymakers can address the challenges of the 21st century.

Bollywood king Shahrukh Khan, for a change, would not be seen serenading heroines with his signature &#39;open-arm&#39; charm on Swiss Alps, but will rather talk about creating a change in India through women empowerment.

Over 3,000 world leaders from business, politics, art, academia and civil society will attend the 48th World Economic Forum (WEF) Annual Meeting over the next five days in Alps mountains

With exquisite desi cuisine on the platter and live yoga sessions on display, the annual Swiss jamboree of the rich and powerful from "a fractured world" will begin tomorrow in Davos where Prime Minister Narendra Modi is expected to pitch India as a growth engine for the global economy. Over 3,000 world leaders from business, politics, art, academia and civil society will attend the 48th World Economic Forum (WEF) Annual Meeting over the next five days in the small ski resort town on snow-covered Alps mountains, where the Indian presence will be the largest ever with over 130 participants. For the first time, #Yoga will be performed on the platform of World Economic Forum. Two of our Aacharyas will be leaving for Davos today & will be taking two sessions, one each in the morning & evening: Yoga Guru Baba Ramdev pic.twitter.com/1BcBA6Gt5T — ANI (@ANI) January 21, 2018 × WEF Chairman Klaus Schwab will declare the summit open tomorrow evening with a welcome message on the meeting's theme, 'Creating a Shared Future in a Fractured World'. It will be followed by honouring Bollywood superstar Shahrukh Khan, Australian actress Cate Blanchett and legendary musician Elton John with the annual 'Crystal Awards' for their respective work towards improving the state of the world. The evening will also see a ballet performance, while India will host the 'welcome reception' with the country's "exquisite cuisine and age-hold Yoga heritage as well as the spirit of a young, innovative New India". The official sessions will begin on Tuesday when Modi will deliver the 'opening plenary', during which he is expected to pitch India as an open economy that is ready for investments from across the world and also as a major engine to drive the global economic growth. Modi is the first Indian Prime Minister to attend Davos meeting in about 20 years since H D Deve Gowda in 1997. During his 24-hour-visit, described by officials as "short but very focused", Modi will also host a dinner for CEOs from across the world -- 20 of Indian companies and 40 from elsewhere -- on Monday evening and will interact with a large gathering of 120 members of WEF's international business community on Tuesday. Besides, he will hold a bilateral meeting with Swiss President Alain Berset, among other pull-asides, as per the government officials. Modi will be accompanied by six union ministers -- Arun Jaitley, Suresh Prabhu, Piyush Goyal, Dharmendra Pradhan, M J Akbar and Jitendra Singh. The CEO delegation, led by apex industry body CII, will include Mukesh Ambani, Gautam Adani, Azim Premji, Rahul Bajaj, N Chandrasekaran, Chanda Kochhar, Uday Kotak and Ajay Singh, among others. Among global leaders, US President Donald Trump will be there to deliver the closing address, but any meeting with Prime Minister Modi is unlikely as the two would not be in town on the same day. Pakistani Prime Minister Shahid Khaqan Abbasi will also be in Davos, but officials in India have said no meeting is planned between him and Modi. German Chancellor Angela Merkel, Italian Prime Minister Paolo Gentiloni, European Commission President Jean-Claude Juncker, French President Emmanuel Macron, UK Prime Minister Theresa May and Canadian Prime Minister Justin Trudeau are among the other attendees. While Trump is expected to talk about his 'America First' policy, officials in India said Modi's central message at this multilateral forum will be about India being an economy that can be an engine of global growth and which wants others to participate in its growth and also wants to contribute to others' development. A lot of focus is expected on what Trump says and what would be the response of other world leaders, including from Germany, France and the UK. Ahead of the summit, an annual WEF survey, likely to be discussed in detail during the meeting, showed that the world will see risks related to environment, economy and international relations intensify this year with a majority of stakeholders expecting political or economic confrontations between major powers to worsen. In a first at the WEF summit, India will also host yoga training sessions for the entire duration of the meeting, while also showcasing Indian heritage and culture in Davos. On the sidelines of the WEF summit, the Swiss government will also host the annual informal WTO ministerial meeting, which will be attended by Commerce Minister Suresh Prabhu and his global counterparts. According to a Swiss government statement, negotiations on a bilateral investment protection pact and the envisaged free trade agreement between India and the European Free Trade Association (EFTA), of which Switzerland is a member, will figure prominently during Modi's meeting with Berset. Modi is expected to encapsulate making of 'a new, young and innovative India', while he is also expected to talk about his experience with 'cooperative federalism' in India, while urging the world for a collective crackdown on terrorism, economic imbalances, cyber threats and various societal ills. According to officials, Modi will also talk about numerous steps they have taken to make it easier to do business in India, check corruption, clamp down on black money, streamline taxation and boost sustainable growth. Another star speaker will be ex-RBI Governor Raghuram Rajan, who has been praised as well as criticised often for his vocal views on everything from politics to economics and is credited for predicting the global economic crisis of 2008. He will speak on the power of economic narratives and how policymakers can address the challenges of the 21st century. Bollywood king Shahrukh Khan, for a change, would not be seen serenading heroines with his signature 'open-arm' charm on Swiss Alps, but will rather talk about creating a change in India through women empowerment.

World Economic Forum: With desi food, yoga India gears up for Modi Mantra at Davos

A day before his departure for the World Economic Forum in Davos, Indian Prime Minister Narendra Modi on Sunday stated that he was looking forward to sharing the vision for India&#39;s future engagement with the international community at Davos.

Modi took to Twitter to drive home the point that India&#39;s engagement with the outside world has become truly and effectively multi-dimensional.&nbsp;

Also read:&nbsp;<a href="http://www.wionews.com/india-news/world-economic-forum-preps-for-modi-mantra-with-tastes-of-india-twists-of-yoga-30218">World Economic Forum: With desi food, yoga India gears up for Modi Mantra at Davos</a>

&#39;&#39;In recent years, India&rsquo;s engagement with the outside world has become truly and effectively multi-dimensional covering the political, economic, people to people, security and other spheres, Modi tweeted.&nbsp;

&#39;&#39;The existing and emerging challenges to the contemporary international system and global governance architecture deserve serious attention of leaders, governments, policy makers, corporates and civil societies around the world. @wef #IndiaMeansBusiness,&#39;&#39; the Prime Minister said in another tweet.

Also read:&nbsp;<a href="http://www.wionews.com/india-news/wefdavos-modi-to-address-opening-plenary-trump-on-final-day-29950">WEF@Davos: Modi to address opening plenary; Trump on final day</a>

stating that the theme of the forum, &ldquo;Creating a Shared Future in a Fractured World&rdquo; is both thoughtful and apt, Modi tweeted that he was looking forward to his first visit to the World Economic Forum at Davos, at the invitation of &#39;&#39;India&rsquo;s good friend and Founder of the WEF, Prof Klaus Schwab&#39;&#39;.&nbsp;

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At Davos, I look forward to sharing my vision for India&rsquo;s future engagement with the international community. <a href="https://twitter.com/wef?ref_src=twsrc%5Etfw">@wef</a> <a href="https://twitter.com/hashtag/IndiaMeansBusiness?src=hash&amp;ref_src=twsrc%5Etfw">#IndiaMeansBusiness</a>
&mdash; Narendra Modi (@narendramodi) <a href="https://twitter.com/narendramodi/status/955062486939549698?ref_src=twsrc%5Etfw">January 21, 2018</a></blockquote>
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Modi also expressed confidence that his bilateral meeting with other world leaders will be fruitful and help boost relationships.&nbsp;

&#39;&#39;I am confident that these bilateral meetings would be fruitful and give a boost to our relations with these countries and further strengthen economic engagement. #IndiaMeansBusiness,&#39;&#39; he said in another tweet.

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In recent years, India&rsquo;s engagement with the outside world has become truly and effectively multi-dimensional covering the political, economic, people to people, security and other spheres. <a href="https://twitter.com/wef?ref_src=twsrc%5Etfw">@wef</a> <a href="https://twitter.com/hashtag/IndiaMeansBusiness?src=hash&amp;ref_src=twsrc%5Etfw">#IndiaMeansBusiness</a>
&mdash; Narendra Modi (@narendramodi) <a href="https://twitter.com/narendramodi/status/955062305678491648?ref_src=twsrc%5Etfw">January 21, 2018</a></blockquote>
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The PM stated that he was looking forward to his separate bilateral meetings with the President of the Swiss Confederation Alain Berset and Prime Minister of Sweden Stefan Lofven.&nbsp;

Modi took to Twitter to drive home the point that India's engagement with the outside world has become truly and effectively multi-dimensional.

A day before his departure for the World Economic Forum in Davos, Indian Prime Minister Narendra Modi on Sunday stated that he was looking forward to sharing the vision for India's future engagement with the international community at Davos. Modi took to Twitter to drive home the point that India's engagement with the outside world has become truly and effectively multi-dimensional. Also read: World Economic Forum: With desi food, yoga India gears up for Modi Mantra at Davos ''In recent years, India’s engagement with the outside world has become truly and effectively multi-dimensional covering the political, economic, people to people, security and other spheres, Modi tweeted. ''The existing and emerging challenges to the contemporary international system and global governance architecture deserve serious attention of leaders, governments, policy makers, corporates and civil societies around the world. @wef #IndiaMeansBusiness,'' the Prime Minister said in another tweet. Also read: WEF@Davos: Modi to address opening plenary; Trump on final day stating that the theme of the forum, “Creating a Shared Future in a Fractured World” is both thoughtful and apt, Modi tweeted that he was looking forward to his first visit to the World Economic Forum at Davos, at the invitation of ''India’s good friend and Founder of the WEF, Prof Klaus Schwab''. At Davos, I look forward to sharing my vision for India’s future engagement with the international community. @wef #IndiaMeansBusiness — Narendra Modi (@narendramodi) January 21, 2018 × Modi also expressed confidence that his bilateral meeting with other world leaders will be fruitful and help boost relationships. ''I am confident that these bilateral meetings would be fruitful and give a boost to our relations with these countries and further strengthen economic engagement. #IndiaMeansBusiness,'' he said in another tweet. In recent years, India’s engagement with the outside world has become truly and effectively multi-dimensional covering the political, economic, people to people, security and other spheres. @wef #IndiaMeansBusiness — Narendra Modi (@narendramodi) January 21, 2018 × The PM stated that he was looking forward to his separate bilateral meetings with the President of the Swiss Confederation Alain Berset and Prime Minister of Sweden Stefan Lofven.

WEF 2018: Modi to focus on India's future engagement with international community

According to an international study published by the Oxfam group, close to 73% of India&#39;s wealth was cornered by India&#39;s richest 1%.

Previously, the survey had revealed that India&#39;s richest 1% held 58% of the country&#39;s total wealth.

The survey also revealed that around 67 crore Indians made up for the poorest half of the country; the section&#39;s wealth rose by just 1% the previous year.&nbsp;

At the global level, the survey noted 82% of the wealth generated last year worldwide to rest with 1% of the global population.&nbsp;

The ever-increasing incidence of wealth concentration is becoming a cause for concern.

Nearly 3.7 billion people account for the poorest half of population with no increase in their wealth.

The annual Oxfam survey was revealed hours before the start of the annual World Economic Forum Annual Meeting where rising income and gender inequality is among the key talking points.

India&#39;s richest witnessed a growth of over Rs 20.9 lakh crore in their wealth during 2017 -- an amount that equals the cumulative budget of the central government in 2017-18.

The Oxfam report titled &#39;Reward Work, Not Wealth&#39;, reveals how the global economy enables the wealthy elite to accumulate huge wealth while hundreds of millions of people struggle to survive on poverty pay.

&quot;2017 saw an unprecedented increase in the number of billionaires, at a rate of one every two days. Billionaire wealth has risen by an average of 13% a year since 2010 -- six times faster than the wages of ordinary workers, which have risen by a yearly average of just 2%,&quot; noted the report.

India added 17 new billionaires last year, taking the total number to a whopping101.

The Indian billionaires&#39; wealth increased to over Rs 20.7 lakh crore -- escalating by Rs 4.89 lakh crore last year --&nbsp;an amount sufficient to finance 85% of the all states&#39; budget on health and education, Oxfam noted.&nbsp;

It also noted that India&#39;s top 10% of the population holds 73% of the wealth.

The report noted 37% of India&#39;s billionaires to have inherited family wealth; the section is also reported to control over half of the total wealth of billionaires in the country.

It was noted that an average wage worker in rural India will take close to 941 years to match up to the amount of wealth earned by top-paid executives at a leading Indian garment firm in a year.

The survey also showed that women workers often find themselves at the bottom of the heap. Nine out of 10 billionaires are men with only four women billionaires; three of them inherited family wealth.

The report also added that an American CEO can earn the same amount of money in about more than a day which an ordinary worker manages to accumulate in 365 days.

Oxfam alluded to a global survey of 120,000 from 10 countries. The survey respondents in countries like the US, UK and India favoured 60% pay cut for CEOs.

&quot;The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system. Those working hard, growing food for the country, building infrastructure, working in factories are struggling to fund their child&#39;s education, buy medicines for family members and manage two meals a day. The growing divide undermines democracy and promotes corruption and cronyism,&quot; Oxfam India CEO Nisha Agrawal noted adding that the concentration of economic growth in the country is alarming.

&quot;It would take around 17.5 days for the best-paid executive at a top Indian garment company to earn what a minimum wage worker in rural India will earn in their lifetime (presuming 50 years at work),&quot; Oxfam said.

(With inputs from PTI)&nbsp;

The Oxfam report titled 'Reward Work, Not Wealth' reveals how the global economy enables the wealthy elite to accumulate huge wealth

According to an international study published by the Oxfam group, close to 73% of India's wealth was cornered by India's richest 1%. Previously, the survey had revealed that India's richest 1% held 58% of the country's total wealth. The survey also revealed that around 67 crore Indians made up for the poorest half of the country; the section's wealth rose by just 1% the previous year. At the global level, the survey noted 82% of the wealth generated last year worldwide to rest with 1% of the global population. The ever-increasing incidence of wealth concentration is becoming a cause for concern. Nearly 3.7 billion people account for the poorest half of population with no increase in their wealth. The annual Oxfam survey was revealed hours before the start of the annual World Economic Forum Annual Meeting where rising income and gender inequality is among the key talking points. India's richest witnessed a growth of over Rs 20.9 lakh crore in their wealth during 2017 -- an amount that equals the cumulative budget of the central government in 2017-18. The Oxfam report titled 'Reward Work, Not Wealth', reveals how the global economy enables the wealthy elite to accumulate huge wealth while hundreds of millions of people struggle to survive on poverty pay. "2017 saw an unprecedented increase in the number of billionaires, at a rate of one every two days. Billionaire wealth has risen by an average of 13% a year since 2010 -- six times faster than the wages of ordinary workers, which have risen by a yearly average of just 2%," noted the report. India added 17 new billionaires last year, taking the total number to a whopping101. The Indian billionaires' wealth increased to over Rs 20.7 lakh crore -- escalating by Rs 4.89 lakh crore last year -- an amount sufficient to finance 85% of the all states' budget on health and education, Oxfam noted. It also noted that India's top 10% of the population holds 73% of the wealth. The report noted 37% of India's billionaires to have inherited family wealth; the section is also reported to control over half of the total wealth of billionaires in the country. It was noted that an average wage worker in rural India will take close to 941 years to match up to the amount of wealth earned by top-paid executives at a leading Indian garment firm in a year. The survey also showed that women workers often find themselves at the bottom of the heap. Nine out of 10 billionaires are men with only four women billionaires; three of them inherited family wealth. The report also added that an American CEO can earn the same amount of money in about more than a day which an ordinary worker manages to accumulate in 365 days. Oxfam alluded to a global survey of 120,000 from 10 countries. The survey respondents in countries like the US, UK and India favoured 60% pay cut for CEOs. "The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system. Those working hard, growing food for the country, building infrastructure, working in factories are struggling to fund their child's education, buy medicines for family members and manage two meals a day. The growing divide undermines democracy and promotes corruption and cronyism," Oxfam India CEO Nisha Agrawal noted adding that the concentration of economic growth in the country is alarming. "It would take around 17.5 days for the best-paid executive at a top Indian garment company to earn what a minimum wage worker in rural India will earn in their lifetime (presuming 50 years at work)," Oxfam said. (With inputs from PTI)

Richest 1% own 73% of India's wealth: Report

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

India is among the most trusted nations globally when it comes to government, business, NGOs and media but has recorded &quot;extreme trust losses&quot; compared to last year, a survey said today.

Coming ahead of the World Economic Forum annual summit the 2018 Edelman Trust Barometer said, globally, people&#39;s trust in these four areas remained largely unchanged from last year. Of 28 countries surveyed, 20 lie in &#39;distruster territory&#39;, one more than in 2017.

China topped the Trust Index among both the informed public and the general population segments, with scores of 83 and 74 respectively.

India was at the third place in both the categories with scores of 77 in case of informed public and 68 in general population.Indonesia was at the second place.

The findings are based on an online survey of more than 33,000 respondents in 28 countries. The fieldwork for the survey was conducted between October 28 and November 20, 2017.

&quot;China&#39;s trust scores are nearly matched by India, the UAE, Indonesia and Singapore, while the Western democracies languish mostly in distruster territory, challenging the traditional geopolitical vision of satisfaction with systems,&quot; the report said.

As per the survey, India was among the six countries with extreme trust losses over the past year which was topped by the US.

The 2018 Edelman Trust Barometer reveals that trust in the US&nbsp;has suffered the largest-ever-recorded drop in the survey&#39;s history among the general population.

&quot;The collapse of trust in the US is driven by a staggering lack of faith in government,&quot; the survey said, adding that the remaining institutions of business, media and NGOs also experienced declines.

The United States saw a 37-point aggregate drop in trust across all institutions, followed by Italy (down 21), Brazil (-17), South Africa (-17), India (-13) and Columbia (-13).

The survey further noted that for the first time media is the least trusted institution globally. In 22 of the 28 countries surveyed it is now distrusted.

&quot;The demise of confidence in the Fourth Estate is driven primarily by a significant drop in trust in platforms, notably search engines and social media,&quot; it added.

The survey further noted that companies headquartered in Canada, Switzerland, Sweden and Australia are most trusted.

&quot;The least trusted country brands are Mexico (32 per cent), India (32 per cent), Brazil (34 per cent) and China (36 per cent),&quot; the survey said, adding that trust in brand US (50 per cent) dropped five points -- the biggest decline of the countries surveyed.

OECD&rsquo;s Government at a Glance report presents an index of countries that trust their governments the most. It determines government&rsquo;s trust levels by&nbsp;whether or not people consider their government stable and reliable, if it&rsquo;s able to protect its citizens from risk and whether it can effectively&nbsp;deliver public services.

Coming ahead of the World Economic Forum annual summit the 2018 Edelman Trust Barometer said, globally, people's trust in these four areas remained largely unchanged from last year. Of 28 countries surveyed, 20 lie in 'distruster territory', one more than in 2017

India is among the most trusted nations globally when it comes to government, business, NGOs and media but has recorded "extreme trust losses" compared to last year, a survey said today. Coming ahead of the World Economic Forum annual summit the 2018 Edelman Trust Barometer said, globally, people's trust in these four areas remained largely unchanged from last year. Of 28 countries surveyed, 20 lie in 'distruster territory', one more than in 2017. China topped the Trust Index among both the informed public and the general population segments, with scores of 83 and 74 respectively. India was at the third place in both the categories with scores of 77 in case of informed public and 68 in general population.Indonesia was at the second place. The findings are based on an online survey of more than 33,000 respondents in 28 countries. The fieldwork for the survey was conducted between October 28 and November 20, 2017. "China's trust scores are nearly matched by India, the UAE, Indonesia and Singapore, while the Western democracies languish mostly in distruster territory, challenging the traditional geopolitical vision of satisfaction with systems," the report said. As per the survey, India was among the six countries with extreme trust losses over the past year which was topped by the US. The 2018 Edelman Trust Barometer reveals that trust in the US has suffered the largest-ever-recorded drop in the survey's history among the general population. "The collapse of trust in the US is driven by a staggering lack of faith in government," the survey said, adding that the remaining institutions of business, media and NGOs also experienced declines. The United States saw a 37-point aggregate drop in trust across all institutions, followed by Italy (down 21), Brazil (-17), South Africa (-17), India (-13) and Columbia (-13). The survey further noted that for the first time media is the least trusted institution globally. In 22 of the 28 countries surveyed it is now distrusted. "The demise of confidence in the Fourth Estate is driven primarily by a significant drop in trust in platforms, notably search engines and social media," it added. The survey further noted that companies headquartered in Canada, Switzerland, Sweden and Australia are most trusted. "The least trusted country brands are Mexico (32 per cent), India (32 per cent), Brazil (34 per cent) and China (36 per cent)," the survey said, adding that trust in brand US (50 per cent) dropped five points -- the biggest decline of the countries surveyed. OECD’s Government at a Glance report presents an index of countries that trust their governments the most. It determines government’s trust levels by whether or not people consider their government stable and reliable, if it’s able to protect its citizens from risk and whether it can effectively deliver public services.

Ahead of World Economic Forum India ranked third among most trusted nations

PM Modi left for Davos today <a href="http://www.wionews.com/india-news/pm-modi-leaves-for-davos-for-world-economic-forum-30284">to attend the World Economic Forum</a>. The Indian prime minister will be arriving on Monday evening(local time in India) and will be meeting the Swiss President Alain Berset.

PM Modi and President Berset are expected to discuss investment opportunities for Switzerland in India and the free trade agreement between India and European Free Trade Association(EFTA).

A welcome reception for the Indian prime minister will also be held after his talks with the Swiss president.

The highlight of the evening is expected to be PM Modi&#39;s roundtable meeting with the CEOs in the evening. 
&nbsp;

A welcome reception for the Indian prime minister will also be held after his talks with the Swiss president

PM Modi left for Davos today to attend the World Economic Forum. The Indian prime minister will be arriving on Monday evening(local time in India) and will be meeting the Swiss President Alain Berset. PM Modi and President Berset are expected to discuss investment opportunities for Switzerland in India and the free trade agreement between India and European Free Trade Association(EFTA). A welcome reception for the Indian prime minister will also be held after his talks with the Swiss president. The highlight of the evening is expected to be PM Modi's roundtable meeting with the CEOs in the evening.

PM Modi to meet Swiss president Berset today at Davos

<a href="http://www.wionews.com/south-asia/pakistan-wont-allow-un-sanctions-monitoring-team-access-to-hafiz-saeed-reports-30351" target="_blank">Pakistan won&#39;t allow UN sanctions monitoring team access to Hafiz Saeed: Reports</a>

The&nbsp;<a href="http://www.wionews.com/preview/article/29908" target="_blank">United Nations Security Council (UNSC) sanctions&nbsp;</a>monitoring team won&#39;t be allowed a direct access to 26/11 Mumbai terror mastermind Hafiz Saeed or his entities, according to a report in a Pakistan media daily.

<a href="http://www.wionews.com/india-news/taste-of-india-pm-modis-kitchen-carrying-1000-kg-masala-to-davos-30355" target="_blank">Taste of India: PM Modi&#39;s kitchen carrying 1,000 kg masala to Davos</a>

PM Modi prefers all kinds of&nbsp;<a href="http://www.wionews.com/india-news/pm-modi-to-meet-swiss-president-berset-today-at-davos-30341">food, provided it is vegetarian</a>, the chief chef accompanying the prime minister at Davos said today. A group of 32 chefs including&nbsp;<a href="http://www.wionews.com/india-news/look-forward-to-first-visit-at-world-economic-forum-pm-modi-30319">managers catering to Indian&nbsp;</a><a href="http://www.wionews.com/india-news/look-forward-to-first-visit-at-world-economic-forum-pm-modi-30319">adda</a><a href="http://www.wionews.com/india-news/look-forward-to-first-visit-at-world-economic-forum-pm-modi-30319">&nbsp;</a>and India reception will be available for the Indian delegation during the World Economic Forum at Davos.

<a href="http://www.wionews.com/india-news/prasoon-joshi-to-get-zed-plus-security-during-jaipur-lit-festival-30364" target="_blank">Padmaavat</a><a href="http://www.wionews.com/india-news/prasoon-joshi-to-get-zed-plus-security-during-jaipur-lit-festival-30364" target="_blank"> row: Prasoon Joshi to get Z+ security during Jaipur Lit Festival</a>

Censor board chief Prasoon Joshi will be provided with zed plus security when he visits Jaipur for the Jaipur Literature Festival.&nbsp; &quot;Required protection will be provided to Joshi from the state government, we are committed to maintain law and order in the state,&quot; home minister Gulab Chand Kataria told a daily

<a href="http://www.wionews.com/world/hold-on-iphone-x-may-soon-be-discontinued-30352" target="_blank">Hold on, iPhone X may soon be discontinued?</a>

You may soon see stores without the iPhone X. This is because of the low sales of the highly-anticipated Apple phone.&nbsp;Apple and KGI analyst Ming-Chi Kua has revealed that the sales were seriously dropping and are expected to reach just around 18 million units in the first quarter of 2018.&nbsp;

<a href="http://www.wionews.com/india-news/live-world-economic-forum-pm-modi-arrives-in-zurich-set-to-land-in-davos-shortly-30369" target="_blank">Live World Economic Forum: PM Modi arrives in Zurich, set to land in Davos shortly</a>

PM Modi will be meeting the Swiss President Alain Berset as he arrives in Davos, after that a welcome reception for the Indian prime minister will be held after his talks with the Swiss president.

Pakistan won't allow UN sanctions monitoring team access to Hafiz Saeed: Reports The United Nations Security Council (UNSC) sanctions monitoring team won't be allowed a direct access to 26/11 Mumbai terror mastermind Hafiz Saeed or his entities, according to a report in a Pakistan media daily. Taste of India: PM Modi's kitchen carrying 1,000 kg masala to Davos PM Modi prefers all kinds of food, provided it is vegetarian, the chief chef accompanying the prime minister at Davos said today. A group of 32 chefs including managers catering to Indian adda and India reception will be available for the Indian delegation during the World Economic Forum at Davos. Padmaavat row: Prasoon Joshi to get Z+ security during Jaipur Lit Festival Censor board chief Prasoon Joshi will be provided with zed plus security when he visits Jaipur for the Jaipur Literature Festival. "Required protection will be provided to Joshi from the state government, we are committed to maintain law and order in the state," home minister Gulab Chand Kataria told a daily Hold on, iPhone X may soon be discontinued? You may soon see stores without the iPhone X. This is because of the low sales of the highly-anticipated Apple phone. Apple and KGI analyst Ming-Chi Kua has revealed that the sales were seriously dropping and are expected to reach just around 18 million units in the first quarter of 2018. Live World Economic Forum: PM Modi arrives in Zurich, set to land in Davos shortly PM Modi will be meeting the Swiss President Alain Berset as he arrives in Davos, after that a welcome reception for the Indian prime minister will be held after his talks with the Swiss president.

WION Evening News brief, January 22, 2018

India was today ranked at the 62nd place among emerging economies on an Inclusive Development Index, much below China&#39;s 26th position and Pakistan&#39;s 47th.

Norway remains the world&#39;s most inclusive advanced economy, while Lithuania again tops the list of emerging economies, the <a href="http://www.wionews.com/india-news/look-forward-to-first-visit-at-world-economic-forum-pm-modi-30319" target="_blank">World Economic Forum (WEF)</a> said while releasing the yearly index here before the start of its annual meeting, to be attended by several world leaders including Prime Minister Narendra Modi and US President Donald Trump.

The index takes into account the &quot;living standards, environmental sustainability and protection of future generations from further indebtedness&quot;, the WEF said. It urged the leaders to urgently move to a new model of inclusive growth and development, saying reliance on GDP as a measure of economic achievement is fuelling short-termism and inequality.

India was ranked 60th among 79 developing economies last year, as against China&#39;s 15th and Pakistan&#39;s 52nd position.

The 2018 index, which measures the progress of 103 economies on three individual pillars -- growth and development; inclusion; and inter-generational equity -- has been divided into two parts. The first part covers 29 advanced economies and the second 74 emerging economies.

The index has also classified the countries into five sub-categories in terms of the five-year trend of their overall Inclusive Development Growth score -- receding, slowly receding, stable, slowly advancing and advancing.

Despite its low overall score, India is among the ten emerging economies with &#39;advancing&#39; trend. Only two advanced economies have shown &#39;advancing&#39; trend.

Among advanced economies, Norway is followed by Ireland, Luxembourg, Switzerland and Denmark in the top five.

Small European economies dominate the top of the index, with Australia (9) the only non-European economy in the top 10. Of the G7 economies, Germany (12) ranks the highest. It is followed by Canada (17), France (18), the UK (21), the US (23), Japan (24) and Italy (27).

The top-five most inclusive emerging economies are Lithuania, Hungary, Azerbaijan, Latvia and Poland.

Performance is mixed among BRICS economies, with the Russian Federation ranking 19th, followed by China (26), Brazil (37), India (62) and South Africa (69).

Of the three pillars that make up the index, India ranks 72nd for inclusion, 66th for growth and development and 44th for inter-generational equity.

The neighbouring countries ranked above India include Sri Lanka (40), Bangladesh (34) and Nepal (22). The countries ranked better than India also include Mali, Uganda, Rwanda, Burundi, Ghana, Ukraine, Serbia, Philippines, Indonesia, Iran, Macedonia, Mexico, Thailand and Malaysia.

Although China ranks first among emerging economies in GDP per capita growth (6.8 per cent) and labour productivity growth (6.7 per cent) since 2012, its overall score is brought down by lacklustre performance on inclusion, the WEF said.

It found that decades of prioritising economic growth over social equity has led to historically high levels of wealth and income inequality and caused governments to miss out on a virtuous circle in which growth is strengthened by being shared more widely and generated without unduly straining the environment or burdening future generations.

Excessive reliance by economists and policy-makers on Gross Domestic Product as the primary metric of national economic performance is part of the problem, the WEF said.

The GDP measures current production of goods and services rather than the extent to which it contributes to broad socio-economic progress as manifested in median household income, employment opportunity, economic security and quality of life, it added.

The WEF also said that rich and poor countries alike are struggling to protect future generations, as it cautioned political and business leaders against expecting higher growth to be a panacea for the social frustrations, including those of younger generations who have shaken the politics of many countries in recent years.

India was today ranked at the 62nd place among emerging economies on an Inclusive Development Index, much below China's 26th position and Pakistan's 47th

India was today ranked at the 62nd place among emerging economies on an Inclusive Development Index, much below China's 26th position and Pakistan's 47th. Norway remains the world's most inclusive advanced economy, while Lithuania again tops the list of emerging economies, the World Economic Forum (WEF) said while releasing the yearly index here before the start of its annual meeting, to be attended by several world leaders including Prime Minister Narendra Modi and US President Donald Trump. The index takes into account the "living standards, environmental sustainability and protection of future generations from further indebtedness", the WEF said. It urged the leaders to urgently move to a new model of inclusive growth and development, saying reliance on GDP as a measure of economic achievement is fuelling short-termism and inequality. India was ranked 60th among 79 developing economies last year, as against China's 15th and Pakistan's 52nd position. The 2018 index, which measures the progress of 103 economies on three individual pillars -- growth and development; inclusion; and inter-generational equity -- has been divided into two parts. The first part covers 29 advanced economies and the second 74 emerging economies. The index has also classified the countries into five sub-categories in terms of the five-year trend of their overall Inclusive Development Growth score -- receding, slowly receding, stable, slowly advancing and advancing. Despite its low overall score, India is among the ten emerging economies with 'advancing' trend. Only two advanced economies have shown 'advancing' trend. Among advanced economies, Norway is followed by Ireland, Luxembourg, Switzerland and Denmark in the top five. Small European economies dominate the top of the index, with Australia (9) the only non-European economy in the top 10. Of the G7 economies, Germany (12) ranks the highest. It is followed by Canada (17), France (18), the UK (21), the US (23), Japan (24) and Italy (27). The top-five most inclusive emerging economies are Lithuania, Hungary, Azerbaijan, Latvia and Poland. Performance is mixed among BRICS economies, with the Russian Federation ranking 19th, followed by China (26), Brazil (37), India (62) and South Africa (69). Of the three pillars that make up the index, India ranks 72nd for inclusion, 66th for growth and development and 44th for inter-generational equity. The neighbouring countries ranked above India include Sri Lanka (40), Bangladesh (34) and Nepal (22). The countries ranked better than India also include Mali, Uganda, Rwanda, Burundi, Ghana, Ukraine, Serbia, Philippines, Indonesia, Iran, Macedonia, Mexico, Thailand and Malaysia. Although China ranks first among emerging economies in GDP per capita growth (6.8 per cent) and labour productivity growth (6.7 per cent) since 2012, its overall score is brought down by lacklustre performance on inclusion, the WEF said. It found that decades of prioritising economic growth over social equity has led to historically high levels of wealth and income inequality and caused governments to miss out on a virtuous circle in which growth is strengthened by being shared more widely and generated without unduly straining the environment or burdening future generations. Excessive reliance by economists and policy-makers on Gross Domestic Product as the primary metric of national economic performance is part of the problem, the WEF said. The GDP measures current production of goods and services rather than the extent to which it contributes to broad socio-economic progress as manifested in median household income, employment opportunity, economic security and quality of life, it added. The WEF also said that rich and poor countries alike are struggling to protect future generations, as it cautioned political and business leaders against expecting higher growth to be a panacea for the social frustrations, including those of younger generations who have shaken the politics of many countries in recent years.

WEF ranks India at 62nd place on Inclusive Development Index behind Pakistan

<a href="http://www.wionews.com/india-news/pm-modi-in-davos-highlights-of-his-speech-at-wef-30514" target="_blank">Highlights: PM Narendra Modi&#39;s big India pitch at Davos</a>

Prime Minister Narendra Modi on Tuesday addressed the plenary session of the 48th edition of the World Economic Forum at Davos in Switzerland. PM Narendra Modi is the first Indian prime minister to attend Davos summit in 20 years.

<a href="http://www.wionews.com/india-news/bsf-launches-operation-bhima-against-pak-rangers-along-loc-30509" target="_blank">BSF launches &#39;Operation Bhima&#39; against Pak Rangers along LoC</a>

BSF launched &quot;Operation Bhima&quot; against<a href="http://www.wionews.com/south-asia/pakistani-pm-says-committed-to-seizing-charities-run-by-hafiz-saeed-30454">&nbsp;Pakistan Rangers even as firing&nbsp;</a>stopped along the Line of Control(LoC) today. Reports said&nbsp;<a href="http://www.wionews.com/india-news/pakistan-firing-positions-fuel-dump-destroyed-in-retaliation-bsf-30385">Pakistan Army chief met Pakistani&nbsp;</a>Rangers as India&#39;s border security force(BSF) released a video on Monday and informed about the planned firing on Pakistan&#39;s post.

<a href="http://www.wionews.com/india-news/sensex-closes-at-36140-nifty-ends-above-11000-mark-30507" target="_blank">Sensex closes above 36,000 </a><a href="http://www.wionews.com/india-news/sensex-closes-at-36140-nifty-ends-above-11000-mark-30507" target="_blank">mark</a><a href="http://www.wionews.com/india-news/sensex-closes-at-36140-nifty-ends-above-11000-mark-30507" target="_blank"> at all-time high</a>

The BSE Sensex on Tuesday BSE Sensex breached the 36,000 level mark to end at an all-time high at 36, 140 after the International Monetary Fund said India would regain the title as the world&#39;s fastest growing major economy in 2018-19.

<a href="http://www.wionews.com/india-news/india-should-focus-on-womens-inclusion-in-economy-imf-chief-lagarde-30519" target="_blank">India should focus on women&#39;s inclusion in economy: IMF Chief Lagarde</a>

IMF chief Christine Lagarde today said India must continue with reforms especially in the financial services sector and should urgently focus on broad- based and the true inclusion of women in its economy.

<a href="http://www.wionews.com/india-news/uddhav-thackeray-lok-sabha-maharashtra-elections-could-be-held-in-2018-30484" target="_blank">Uddhav Thackeray: Lok Sabha, Maharashtra elections could be held in 2018</a>

Shiv Sena chief Uddhav Thackeray said Tuesday that the next general elections and the elections to the Maharashtra state assembly could be held in December 2018.&nbsp;

&nbsp;

Highlights: PM Narendra Modi's big India pitch at Davos Prime Minister Narendra Modi on Tuesday addressed the plenary session of the 48th edition of the World Economic Forum at Davos in Switzerland. PM Narendra Modi is the first Indian prime minister to attend Davos summit in 20 years. BSF launches 'Operation Bhima' against Pak Rangers along LoC BSF launched "Operation Bhima" against Pakistan Rangers even as firing stopped along the Line of Control(LoC) today. Reports said Pakistan Army chief met Pakistani Rangers as India's border security force(BSF) released a video on Monday and informed about the planned firing on Pakistan's post. Sensex closes above 36,000 mark at all-time high The BSE Sensex on Tuesday BSE Sensex breached the 36,000 level mark to end at an all-time high at 36, 140 after the International Monetary Fund said India would regain the title as the world's fastest growing major economy in 2018-19. India should focus on women's inclusion in economy: IMF Chief Lagarde IMF chief Christine Lagarde today said India must continue with reforms especially in the financial services sector and should urgently focus on broad- based and the true inclusion of women in its economy. Uddhav Thackeray: Lok Sabha, Maharashtra elections could be held in 2018 Shiv Sena chief Uddhav Thackeray said Tuesday that the next general elections and the elections to the Maharashtra state assembly could be held in December 2018.

WION Evening News brief, January 23, 2018

Indian Bollywood star Shah Rukh Khan was&nbsp;seen today alongside Maharashtra Chief Minister Devendra Fadnavis during a media interaction at Davos 2018 in Switzerland.&nbsp;

Present at the&nbsp;World Economic Forum summit to receive his Crystal Award for his&nbsp;&quot;leadership in championing children&#39;s and women&#39;s rights in India&quot; with the help of Meer Foundation -- Shah Rukh today was quoted praising PM Modi and Maharashtra&nbsp;CM for their work towards development.&nbsp;

<a href="http://www.wionews.com/india-news/when-shah-rukh-khan-requested-elton-john-and-cate-blanchett-for-a-selfie-30475" target="_blank">Also Read:&nbsp;When Shah Rukh Khan requested Elton John and Cate Blanchett for a selfie</a>

<a href="http://www.wionews.com/world/shah-rukh-khan-at-davos-receives-an-award-spoke-against-sexism-30406" target="_blank">Also Watch:&nbsp;We the powerful need to get out of the way to pick barriers apart: Shah Rukh Khan at Davos</a>

Attending the Mumbai and Maharashtra session at World Economic Forum, Khan said that he is whatever he is today because of &quot;Mumbai&quot;. He said, &quot;I am a living example of how someone can come to Mumbai and fulfil his or her dreams and desires.&nbsp;I came here in this city 30 years back.&nbsp;Today, I am here in Davos because I have worked in Mumbai and this is my right to join this session.&quot;

He added, &quot;I always say I have two mothers -- Delhi which gave me birth and Maharashtra which helped me grow and achieving my dreams in life.&quot;

When asked to comment on Indian Prime Minister Modi&#39;s speech, Khan affirmed that the &quot;next future is digital in our country. We will have to create a positive atmosphere and environment for the youth of our nation. Politics should also be digital in India because when we talk about &lsquo;Digital India&rsquo; everything should come under digital.&quot;

Watch&nbsp;WION in Davos, actor Shah Rukh Khan speaks about PM Modi&#39;s speech:&nbsp;

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&#39;PM Modi visiting Davos is a matter of great pride and I hope that whole world will listen and come to India,&#39; Shah Rukh Khan. (WION)
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Appreciating his relationship with Fadnavis, Khan said, &quot;I can always approach Maharashtra Chief Minister Devendra Fadnavis sahib anytime for such things.&nbsp;He is the new age CM of India&quot; before adding &quot;Now, I am like a senior citizen of Maharashtra finally, the time has come when I should contribute to this city.&nbsp;Now, I don&rsquo;t demand anything and whenever I meet CM sahib I always ask him that how can I contribute to Mumbai city.&nbsp;We both are on the same plane because we want to do something for this city and state.&quot;

He also said, &quot;After taking a lot from Maharashtra I am not greedy now.&nbsp;I would like to participate in whatever Maharashtra wants through CM sahib.&quot;

Khan then went on to speak about PM Modi and said: &quot;It is for the first time that in 20 years we have a PM coming here in Davos. He has&nbsp;already mentioned that he is here to rejoice 128 crores Indians.&nbsp;Even after lot of radical changes we are sustaining.&quot;

He continued: &quot;PM Narendra Modi pointed out globalisation is losing sheen.&nbsp;India can perhaps become a hub of bringing it back and a lot of good points.&quot;

Lastly, he mentioned his pride at representing India at Davos and said, &quot;All of us are here so it seems that we have taken over Davos.&quot;

&nbsp;

He also praised PM Modi and Maharashtra Chief Minister Devendra Fadnavis, both of whom were also at Davos

Indian Bollywood star Shah Rukh Khan was seen today alongside Maharashtra Chief Minister Devendra Fadnavis during a media interaction at Davos 2018 in Switzerland. Present at the World Economic Forum summit to receive his Crystal Award for his "leadership in championing children's and women's rights in India" with the help of Meer Foundation -- Shah Rukh today was quoted praising PM Modi and Maharashtra CM for their work towards development. Also Read: When Shah Rukh Khan requested Elton John and Cate Blanchett for a selfie Also Watch: We the powerful need to get out of the way to pick barriers apart: Shah Rukh Khan at Davos Attending the Mumbai and Maharashtra session at World Economic Forum, Khan said that he is whatever he is today because of "Mumbai". He said, "I am a living example of how someone can come to Mumbai and fulfil his or her dreams and desires. I came here in this city 30 years back. Today, I am here in Davos because I have worked in Mumbai and this is my right to join this session." He added, "I always say I have two mothers -- Delhi which gave me birth and Maharashtra which helped me grow and achieving my dreams in life." When asked to comment on Indian Prime Minister Modi's speech, Khan affirmed that the "next future is digital in our country. We will have to create a positive atmosphere and environment for the youth of our nation. Politics should also be digital in India because when we talk about ‘Digital India’ everything should come under digital." Watch WION in Davos, actor Shah Rukh Khan speaks about PM Modi's speech: 'PM Modi visiting Davos is a matter of great pride and I hope that whole world will listen and come to India,' Shah Rukh Khan. (WION) × Appreciating his relationship with Fadnavis, Khan said, "I can always approach Maharashtra Chief Minister Devendra Fadnavis sahib anytime for such things. He is the new age CM of India" before adding "Now, I am like a senior citizen of Maharashtra finally, the time has come when I should contribute to this city. Now, I don’t demand anything and whenever I meet CM sahib I always ask him that how can I contribute to Mumbai city. We both are on the same plane because we want to do something for this city and state." He also said, "After taking a lot from Maharashtra I am not greedy now. I would like to participate in whatever Maharashtra wants through CM sahib." Khan then went on to speak about PM Modi and said: "It is for the first time that in 20 years we have a PM coming here in Davos. He has already mentioned that he is here to rejoice 128 crores Indians. Even after lot of radical changes we are sustaining." He continued: "PM Narendra Modi pointed out globalisation is losing sheen. India can perhaps become a hub of bringing it back and a lot of good points." Lastly, he mentioned his pride at representing India at Davos and said, "All of us are here so it seems that we have taken over Davos."

SRK at Davos: 'Always say I have two mothers, Delhi and Maharashtra'

US President Donald Trump strode into the lion&#39;s den to confront the world&#39;s political and business elite on Thursday, as his &quot;America First&quot; administration executes an anti-globalist manifesto in trade, taxes and currency rates.

A year after taking office, Trump joined the World Economic Forum in Davos with foreign exchange markets in turmoil and Washington&#39;s trading partners in uproar.

Taking on one storm, he insisted that he wants to see &quot;a strong dollar,&quot; after comments by his treasury secretary appearing to signal the opposite sent the US currency plunging to three-year lows and provoked anger in Europe.

Trump smiled and waved on his arrival at the gathering in the Swiss Alps, as crowds of onlookers held up camera phones. One woman admirer grabbed Trump&#39;s autograph while other delegates muttered -- out of his earshot -- about wanting to pelt him with fruit.

The former property mogul held one-on-one meetings with the British and Israeli prime ministers. Then, having demonised the globalist Davos crowd on his unorthodox march to the White House, he went on to a gala reception and dinner with European business chiefs attending the gathering.

Interviewed on CNBC, Trump said there was no contradiction between his populist campaign and his decision to come to the headquarters of the global elite.

&quot;When I decided to come to Davos, I didn&#39;t think in terms of elitist or globalist, I thought in terms of lots of people that want to invest lots of money and they&#39;re all coming back to the United States, they&#39;re coming back to America,&quot; he said.

Basking in near-daily highs on Wall Street and accelerating US growth, he added: &quot;It&#39;s about coming to America, investing in money, creating jobs, companies coming in, we&#39;re setting records every week, every day, we&#39;re setting records.&quot;

Anti-Trump messages 
Seeking to demonise the president in turn was Swiss activist group Campax, which hung a giant banner on an Alpine peak near Davos reading &quot;Trump not welcome&quot;, and Greenpeace, which beamed anti-Trump laser messages onto another mountain.

At an annual dinner he hosts in Davos, billionaire financier George Soros was equally blunt. &quot;I consider the Trump administration a danger to the world,&quot; he said. &nbsp;

Trump is due to address the forum on its closing day Friday, at the end of a week that saw his administration announce a new package of trade tariffs targeting China and South Korea, and spark upheaval on the currency markets.

&quot;I think the most fascinating thing with President Trump is that he has the capacity to surprise, and I&#39;m sure we will be surprised tomorrow,&quot; Alexander Stubb, former prime minister of Finland and the new vice president of the European Investment Bank, told AFP in Davos.

Forex rows 
Traders and US partners already had one surprise in Davos this week when Treasury Secretary Steven Mnuchin appeared to back away from decades of support by his predecessors for a &quot;strong dollar&quot; policy. He declared &quot;a weaker dollar is good for us&quot;, flouting US commitments in international fora such as the G20.

International Monetary Fund chief Christine Lagarde on Thursday urged Mnuchin to &quot;clarify&quot; his stance on the dollar. European Central Bank head Mario Draghi reminded trading partners to &quot;refrain&quot; from language that could cause currency volatility.

A weak dollar would potentially boost US exporters but cause headaches for all other trading nations.

In comments to CNBC that helped the dollar recover some lost ground, Trump said Mnuchin had been misquoted.

The Treasury secretary told reporters Thursday: &quot;We are not concerned with where the dollar is in the short term, it is a very liquid market and we believe in free currencies.&quot;

But Mnuchin&#39;s apparently hands-off approach was taken as reinforcing a broad offensive in trade built on the &quot;America First&quot; platform.

It drew the ire of French Finance Minister Bruno Le Maire.

&quot;We want exchange rates to reflect economic fundamentals... and we shouldn&#39;t play with these rates,&quot; Le Maire said in Davos.

Business leaders in Davos have this week offered a broad welcome to controversial tax reforms enacted by Trump&#39;s Republicans, which slashed the headline rate of US corporate tax. But European political leaders fear a &quot;race to the bottom&quot; as the United States jockeys for an edge among foreign investors.

Nice or nasty? 
A year ago, the Davos spotlight was claimed by China&#39;s communist leader Xi Jinping, who took up the torch of global trade to the delight of the well-heeled audience then anxious about Trump&#39;s inauguration.

The Davos elite are keen now to see which version of Trump will speak on Friday -- the business-friendly tycoon or the leader who berated the rest of the world at the UN General Assembly last September.

&quot;I think they&#39;ve already built down their expectations so far that anything he may say that&#39;s conciliatory, they&#39;ll be grateful for,&quot; Robert Kaplan, senior fellow at Washington&#39;s Center for a New American Security, told AFP at the forum.

French President Emmanuel Macron and German Chancellor Angela Merkel &quot;stole the show&quot; at Davos already, Kaplan added, after the European leaders used separate speeches on Wednesday to push back hard against the Trump manifesto.

Trump smiled and waved on his arrival at the gathering in the Swiss Alps, as crowds of onlookers held up camera phones

US President Donald Trump strode into the lion's den to confront the world's political and business elite on Thursday, as his "America First" administration executes an anti-globalist manifesto in trade, taxes and currency rates. A year after taking office, Trump joined the World Economic Forum in Davos with foreign exchange markets in turmoil and Washington's trading partners in uproar. Taking on one storm, he insisted that he wants to see "a strong dollar," after comments by his treasury secretary appearing to signal the opposite sent the US currency plunging to three-year lows and provoked anger in Europe. Trump smiled and waved on his arrival at the gathering in the Swiss Alps, as crowds of onlookers held up camera phones. One woman admirer grabbed Trump's autograph while other delegates muttered -- out of his earshot -- about wanting to pelt him with fruit. The former property mogul held one-on-one meetings with the British and Israeli prime ministers. Then, having demonised the globalist Davos crowd on his unorthodox march to the White House, he went on to a gala reception and dinner with European business chiefs attending the gathering. Interviewed on CNBC, Trump said there was no contradiction between his populist campaign and his decision to come to the headquarters of the global elite. "When I decided to come to Davos, I didn't think in terms of elitist or globalist, I thought in terms of lots of people that want to invest lots of money and they're all coming back to the United States, they're coming back to America," he said. Basking in near-daily highs on Wall Street and accelerating US growth, he added: "It's about coming to America, investing in money, creating jobs, companies coming in, we're setting records every week, every day, we're setting records." Anti-Trump messages Seeking to demonise the president in turn was Swiss activist group Campax, which hung a giant banner on an Alpine peak near Davos reading "Trump not welcome", and Greenpeace, which beamed anti-Trump laser messages onto another mountain. At an annual dinner he hosts in Davos, billionaire financier George Soros was equally blunt. "I consider the Trump administration a danger to the world," he said. Trump is due to address the forum on its closing day Friday, at the end of a week that saw his administration announce a new package of trade tariffs targeting China and South Korea, and spark upheaval on the currency markets. "I think the most fascinating thing with President Trump is that he has the capacity to surprise, and I'm sure we will be surprised tomorrow," Alexander Stubb, former prime minister of Finland and the new vice president of the European Investment Bank, told AFP in Davos. Forex rows Traders and US partners already had one surprise in Davos this week when Treasury Secretary Steven Mnuchin appeared to back away from decades of support by his predecessors for a "strong dollar" policy. He declared "a weaker dollar is good for us", flouting US commitments in international fora such as the G20. International Monetary Fund chief Christine Lagarde on Thursday urged Mnuchin to "clarify" his stance on the dollar. European Central Bank head Mario Draghi reminded trading partners to "refrain" from language that could cause currency volatility. A weak dollar would potentially boost US exporters but cause headaches for all other trading nations. In comments to CNBC that helped the dollar recover some lost ground, Trump said Mnuchin had been misquoted. The Treasury secretary told reporters Thursday: "We are not concerned with where the dollar is in the short term, it is a very liquid market and we believe in free currencies." But Mnuchin's apparently hands-off approach was taken as reinforcing a broad offensive in trade built on the "America First" platform. It drew the ire of French Finance Minister Bruno Le Maire. "We want exchange rates to reflect economic fundamentals... and we shouldn't play with these rates," Le Maire said in Davos. Business leaders in Davos have this week offered a broad welcome to controversial tax reforms enacted by Trump's Republicans, which slashed the headline rate of US corporate tax. But European political leaders fear a "race to the bottom" as the United States jockeys for an edge among foreign investors. Nice or nasty? A year ago, the Davos spotlight was claimed by China's communist leader Xi Jinping, who took up the torch of global trade to the delight of the well-heeled audience then anxious about Trump's inauguration. The Davos elite are keen now to see which version of Trump will speak on Friday -- the business-friendly tycoon or the leader who berated the rest of the world at the UN General Assembly last September. "I think they've already built down their expectations so far that anything he may say that's conciliatory, they'll be grateful for," Robert Kaplan, senior fellow at Washington's Center for a New American Security, told AFP at the forum. French President Emmanuel Macron and German Chancellor Angela Merkel "stole the show" at Davos already, Kaplan added, after the European leaders used separate speeches on Wednesday to push back hard against the Trump manifesto.

Trump touts 'America First' to sceptical Davos elite

The annual congregation of world leaders in this snow-laden Swiss town concluded on Friday where Prime Minister Narendra Modi led the charge against protectionism and was joined by the likes of Angela Merkel and Emmanuel Macron while US President Donald Trump wrapped it up by asserting &#39;America First&#39; does not mean &#39;America alone&#39;.

Over five days, the rich and powerful of the &#39;fractured&#39; world as well as those from academia, art, culture and civil society, also flagged growing levels of gender and income inequality, as well as the financial and environmental risks.

Davos regular and IMF chief Christine Lagarde said the world should celebrate economic recovery but also repair the leaking roofs while the sun shines.

As this ski resort town saw unprecedented levels of snowfall this year, there were unusual delays in start of some programmes on the first two days besides ever increasing serpentine queues of vehicles on roads and of people outside the session halls.

Against that backdrop, French President Emmanuel Macron remarked this much snow would raise doubts among sceptics of global warming and it was good that they were not here as yet -- an apparent quip at his US counterpart who has announced that America would be leaving the Paris climate pact.

Macron&#39;s remarks came on Wednesday before Trump arrived at Davos.

And today, Trump was welcomed on stage with a traditional Swiss brass band performance, another unusual event.

In his typical style, Trump said the press always loved him as a businessman but turned &quot;nasty&quot; and &quot;fake&quot; when he joined politics and became president, eliciting quite audible hisses and boos from some people in the audience that included a large number of media persons.

Replying to the growing demand for action against what is being considered as protectionist policies in the US, Trump declared he supports free trade but it must be fair and reciprocal. He also asserted that free trade would not be possible if some countries resort to abuse of systems, taking an indirect jibe at China.

Modi -- the first Indian prime minister to come here in over two decades -- led the charge against protectionism and declared that India was an open economy and ready to host businesses from across the world and share the benefits for all with its age-old concept of &#39;Vasudhaiva Kutumbakam&#39; -- the world is one family.

Canadian Prime Minister Justin Trudeau and German Chancellor Angela Merkel also spoke out against protectionist tendencies at the summit.

As the world leaders continued to voice their concerns over various ills facing the world, British Prime Minister Theresa May was somehow cynical that the big words spoken in Davos were often not matched with actions outside.

Her comments led many here to quip that Davos was like Las Vegas of the economic world -- whatever happens in Davos, remains in Davos.

The official programme began on Monday with Crystal Awards for cine star Shahrukh Khan, actor Cate Blanchett and music icon Elton John.

At the ceremony, the Bollywood star had his own &#39;fan moment&#39; when he asked Blanchett for a selfie.

A concert by the Davos Festival Chamber Coir marked the end of the five-day summit.

International Trade Union Confederation&#39;s Sharon Burrow, part of the all women co-chairs, in her closing remarks made sure to thank drivers and all the support staff for running the show successfully. She also said the theme of creating a shared future in a fractured world would not be achieved without inclusion at all levels.

Chetna Sinha from India was also a co-chair for this year&#39;s summit.

A large Indian delegation, including union ministers, attended the 48th annual meeting of the WEF.

Davos regular and IMF chief Christine Lagarde said the world should celebrate economic recovery but also repair the leaking roofs while the sun shines

The annual congregation of world leaders in this snow-laden Swiss town concluded on Friday where Prime Minister Narendra Modi led the charge against protectionism and was joined by the likes of Angela Merkel and Emmanuel Macron while US President Donald Trump wrapped it up by asserting 'America First' does not mean 'America alone'. Over five days, the rich and powerful of the 'fractured' world as well as those from academia, art, culture and civil society, also flagged growing levels of gender and income inequality, as well as the financial and environmental risks. Davos regular and IMF chief Christine Lagarde said the world should celebrate economic recovery but also repair the leaking roofs while the sun shines. As this ski resort town saw unprecedented levels of snowfall this year, there were unusual delays in start of some programmes on the first two days besides ever increasing serpentine queues of vehicles on roads and of people outside the session halls. Against that backdrop, French President Emmanuel Macron remarked this much snow would raise doubts among sceptics of global warming and it was good that they were not here as yet -- an apparent quip at his US counterpart who has announced that America would be leaving the Paris climate pact. Macron's remarks came on Wednesday before Trump arrived at Davos. And today, Trump was welcomed on stage with a traditional Swiss brass band performance, another unusual event. In his typical style, Trump said the press always loved him as a businessman but turned "nasty" and "fake" when he joined politics and became president, eliciting quite audible hisses and boos from some people in the audience that included a large number of media persons. Replying to the growing demand for action against what is being considered as protectionist policies in the US, Trump declared he supports free trade but it must be fair and reciprocal. He also asserted that free trade would not be possible if some countries resort to abuse of systems, taking an indirect jibe at China. Modi -- the first Indian prime minister to come here in over two decades -- led the charge against protectionism and declared that India was an open economy and ready to host businesses from across the world and share the benefits for all with its age-old concept of 'Vasudhaiva Kutumbakam' -- the world is one family. Canadian Prime Minister Justin Trudeau and German Chancellor Angela Merkel also spoke out against protectionist tendencies at the summit. As the world leaders continued to voice their concerns over various ills facing the world, British Prime Minister Theresa May was somehow cynical that the big words spoken in Davos were often not matched with actions outside. Her comments led many here to quip that Davos was like Las Vegas of the economic world -- whatever happens in Davos, remains in Davos. The official programme began on Monday with Crystal Awards for cine star Shahrukh Khan, actor Cate Blanchett and music icon Elton John. At the ceremony, the Bollywood star had his own 'fan moment' when he asked Blanchett for a selfie. A concert by the Davos Festival Chamber Coir marked the end of the five-day summit. International Trade Union Confederation's Sharon Burrow, part of the all women co-chairs, in her closing remarks made sure to thank drivers and all the support staff for running the show successfully. She also said the theme of creating a shared future in a fractured world would not be achieved without inclusion at all levels. Chetna Sinha from India was also a co-chair for this year's summit. A large Indian delegation, including union ministers, attended the 48th annual meeting of the WEF.

World Economic Forum ends in Davos with 'repair your leaking roof, don't be selfish' message from world leader

Prime Minister Narendra Modi today met Swiss President Alain Berset here and discussed ways to deepen bilateral ties on the sidelines of the World Economic Forum (WEF) annual summit.

&quot;On reaching Davos, held talks with the President of the Swiss Confederation, Mr @alain_berset. We reviewed the scope of our bilateral cooperation and discussed ways to deepen it even further,&quot; Modi said in a tweet.

Berset said the discussions marked the meeting of the biggest and the oldest democracies in the world.

Thanking Modi, the Swiss President said he would continue to strengthen &quot;our relations&quot; with India.

&quot;First engagement in snowing #Davos, PM @narendramodi met with Swiss President @alain_berset. Two leaders had productive discussions on steps to further deepen our bilateral cooperation built upon our shared values of democracy and diversity. #IndiaMeansBusiness,&quot; an external affairs ministry spokesperson said in a tweet.

Sources said the two leaders are also believed to have discussed the progress on automatic exchange of tax information.

A legislation in this regard was passed by the Swiss Parliament, following which banks and financial institutions have begun collecting data for the first exchange that is to begin from next year.

Negotiations on EFTA (European Free Trade Association) trade pact and the bilateral investment protection agreement were also discussed, among various business and trade matters, they added.

Modi, who arrived at the ski-resort today, would be delivering the keynote address at the summit&#39;s plenary session today.&nbsp;

Berset said the discussions marked the meeting of the biggest and the oldest democracies in the world

Prime Minister Narendra Modi today met Swiss President Alain Berset here and discussed ways to deepen bilateral ties on the sidelines of the World Economic Forum (WEF) annual summit. "On reaching Davos, held talks with the President of the Swiss Confederation, Mr @alain_berset. We reviewed the scope of our bilateral cooperation and discussed ways to deepen it even further," Modi said in a tweet. Berset said the discussions marked the meeting of the biggest and the oldest democracies in the world. Thanking Modi, the Swiss President said he would continue to strengthen "our relations" with India. "First engagement in snowing #Davos, PM @narendramodi met with Swiss President @alain_berset. Two leaders had productive discussions on steps to further deepen our bilateral cooperation built upon our shared values of democracy and diversity. #IndiaMeansBusiness," an external affairs ministry spokesperson said in a tweet. Sources said the two leaders are also believed to have discussed the progress on automatic exchange of tax information. A legislation in this regard was passed by the Swiss Parliament, following which banks and financial institutions have begun collecting data for the first exchange that is to begin from next year. Negotiations on EFTA (European Free Trade Association) trade pact and the bilateral investment protection agreement were also discussed, among various business and trade matters, they added. Modi, who arrived at the ski-resort today, would be delivering the keynote address at the summit's plenary session today.

At Davos, PM Modi and Swiss President discuss ways to deepen bilateral ties

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