Even as most ministers have pulled out, India is still making a mark in the ongoing World Economic Forum (WEF) in Davos through its corporate sector.
Amid government’s absence, India is still making a mark in the ongoing World Economic Forum (WEF) in Davos through its corporate sector. Nearly 140 business honchos including Mukesh Ambani, Gautam Adani, Nandan Nilekani, among others are attending the annual meeting between January 22 and January 25. Tata Tea, which it is offering free cups of hot tea to the people, is among the big brands that are most visible in the event, according to news agency PTI.
The other group firm – TCS – is assisting in providing technology solutions, the report also said. Unlike last year, ‘Indian Adda’ – known for Indian food and beverages – has given a miss this time. However, ‘India Invest’ has set up India Investment Centre.
Finance Minister Arun Jaitley, who is in the US for treatment, and Petroleum Minister Dharmendra Pradhan have dropped out of the event.
Meanwhile on Monday, IMF trimmed global growth estimates, even as India’s growth projection for FY19 at 7.3 per cent was retained at 7.3 per cent.Indian economy would benefit from lower crude oil prices and slower pace of monetary tightening, the IMF said in its January World Economic Outlook (WEO) update. India would remain the fastest growing major economies globally, it also said.
“India’s economy is poised to pick up in 2019, benefiting from lower oil prices and a slower pace of monetary tightening than previously expected, as inflation pressures ease,” the IMF had said. India is projected to grow at 7.5 per cent in 2019 and 7.7 per cent in 2020,. It comes at one percentage point ahead of China’s projected growth of 6.2 per cent in these two years, the IMF also noted.