“India means business” is the message with which Prime Minister Narendra Modi will attend the 48th Annual General Meeting of the World Economic Forum, Davos, Switzerland, beginning today. He will address the gathering at the plenary session on January 23, and in a short span of 24 hours will also host a dinner for CEOs from across the world. Top Banker Uday Kotak says that it an opportunity to put forward the nuanced message to present India as an open economy which cares for the interest of domestic as well as the global audience.
In an interview with PTI, Uday Kotak said, “We must understand that following our Prime Minister, US President Donald Trump is also coming to Davos with his ‘America First’ policy and he is coming after cutting corporate tax rates and after making big corporates bring back jobs and profits to America.”
“Therefore, we need to get our messaging right when Trump is likely to talk about how Americans are making America great again. So India needs to say here that we are welcoming the world and we are building a new India,” he added. Uday Kotak is one the businesspersons who have been attending WEF Annual Meeting in the Swiss ski resort town for many years now.
“We need to tell the world we are an open economy but at the same time, India has aspirations to build a new India. We need to articulate that we need the world’s investments but at the terms that make sense to us and to everybody else,” he said on expectations from Prime Minister Narendra Modi’s opening plenary on Tuesday.
“India needs to position itself in a statesman position and not in a salesman position here,” he told PTI. This year, over 100 CEOs including Mukesh Ambani and Chanda Kochhar, and Bollywood superstar Shahrukh Khan and top filmmaker Karan Johar are expected to participate in the Summit.
India has witnessed various reforms in four years under the leadership of Narendra Modi, along with a massive push for ‘Make in India’. The summit is happening at a time when the government is pushing for Foreign Direct Investments (FDI) in various areas.
Narendra Modi will talk about steps taken to make it easier to do business in India. He will address about 20 Indian CEO and 40 from around the world and inform them as to how India is progressing. The recent 30 rank jump on World Bank’s Ease of Doing Business to top 100 will be a shot in his arm to impress the top business leaders of the world. He is also scheduled to meet Swiss President Alain Berset. Narendra Modi is the first Prime Minister in two decades to attend the summit.