WEF to open full fledged office in India
New Delhi: The World Economic Forum (WEF), known for its annual Davos meeting, Monday said it will open its full-fledged office in India in the wake of the country's growing economic clout.
Besides, WEF which has been organising annual India event along with the industry body CII, has decided to go solo from this year.
The branding of the event would also be changed to 'World Economic Forum on India' rather than India Economic Summit being held annually for the last 27 years.
On being asked whether WEF won't be collaborating with CII in its next India event in November, the WEF Asia Head and Senior Director Sushant Palakurthi Rao said, "absolutely".
He, however said, the WEF engagement with the industry chamber has gone beyond the summit by engaging more with it on variety of other initiatives.
Rao said the Geneva-based WEF wants to have a permanent establishment in India. "We are opening an office to engage more deeply with the country and carry out our activities".
On rebranding the summit, WEF Managing Director Sarita Nayyar said, the new name is more reflective of India's position in the world. India is an important political and economic partner. It is not just about India but about India and the role it is playing in the global landscape.
In the next India event to be held in the industrial hub of Gurgaon, she said well-known Pakistan politician and former cricketer Imran Khan are expected to participate along with political and business leaders from across the world.
The economic relationship between India and Pakistan will also figure in the summit, Nayyar added.
The theme for this year's event, to be held between November 6 and 8, is titled 'From Deliberation to Transformation'.
"We would deliberate on issues like human capital development and governance. Besides, we would discuss food security issues as we are embarking on some significant projects in India in this area," Rao said.
In order to focus on development issues, the WEF has decided to organise the India summit in various states.