World Economic Forum meet starts with call for responsible govts

Davos: With a call for governments to become more 'responsive and responsible' in the backdrop of falling trust in all kinds of institutions and various studies painting a dismal picture for India including on inclusive development, rich-poor gap and talent competitiveness, World Economic Forum started here on Monday.

The 47th edition of the yearly talkfest of rich and powerful began with a welcome address by WEF Founder Klaus Schwab and felicitation of celebrity singer Shakira, among others, for her work towards promoting education, followed by a musical concert by violinist Anne-Sophie Mutter.

The formal sessions will begin tomorrow morning and would be opened by Swiss President Doris Leuthard along with Chinese President Xi Jinping.

A large Indian delegation is also here with over 100 CEOs including Tata group's next chief N Chandrasekaran for the event, though China's presence is huge with Jinping being the first Chinese President to attend Davos meet.

Union Ministers Nitin Gadkari and Nirmala Sitharaman will be here along with other senior government officials, including DIPP Secretary Ramesh Abhishek, while Andhra Pradesh Chief Minister N Chandrababu Naidu is also leading a big team from his state.

NITI Aayog Vice President Arvind Panagariya has cancelled his visit but CEO Amitabh Kant would be coming for this global elite meet of leaders from politics, business, academia and civil society among other areas.

The annual meet, coming against the backdrop of uncertainties worldwide on different fronts, would have discussions on global economy and need for a 'responsive and responsible leadership'.

However, various reports released today did not paint a rosy picture for India and the current state of the world.

India has been ranked 60th among 79 developing economies, below neighbouring China and Pakistan, in the inclusive development index, as per WEF's 'Inclusive Growth and Development Report 2017' released today.

Addressing heads of states and governments from across the world and other leaders, WEF Executive Chairman Klaus Schwab said, "We are at the very interesting point today".

China has a big delegation this year as also from India and other BRIC countries, he said, adding that it is very important that all decision makers have to act and have a vision for the future.

Two Sustainable Development Goal Advocates Colombian

singer Shakira and American actor Forest Whitaker received the prestigious Crystal Award.

In January 2016, 17 SDG Advocates were appointed to support the UN's efforts to generate momentum to achieve the Sustainable Development Agenda by 2030.

Using a metaphor, Schwab said just like pilots we all need all intelligence to understand what is going on in the world and in the global economy.

According to him, social inclusion and creating hobs for young generation will be among the key points of discussion at the meeting.

Global cooperation is going to be key and we have to remind ourselves that the world is so much inter-connected and inter dependent that "we are part of a common destiny", Schwab said.

"We have to make sure that we do not get immune to atrocities and they are not just tolerable," he added.

Meanwhile, as per the WEF study while India is placed at the 60th spot in the Inclusive Development Index (IDI), many of the neighbouring nations are ahead in the rankings. China is ranked 15th, Nepal (27th), Bangladesh (36th) and Pakistan (52nd).

Lithuania tops the list of 79 developing economies that also features Azerbaijan and Hungary at second and third positions, respectively.

IDI is based on 12 performance indicators and in order to provide a more complete measure of economic development than GDP growth alone, the index has three pillars -- Growth and Development, Inclusion and Intergenerational Equity, and Sustainability.

Mirroring signs of rising inequality in income, a study by rights group Oxfam said India's richest 1 per cent now hold a huge 58 per cent of the country's total wealth -- higher than the global figure of about 50 per cent.

As per the study, just 57 billionaires in India now have same wealth (USD 216 billion) as that of the bottom 70 per cent population of the country.

However, 2017 Edelman Trust Barometer released today showed that India has emerged as the most trusted nation in terms of its institutions by general population even as there has been a "global implosion of trust" worldwide, says a survey.

The Indian government is also the second most trusted after neighbouring China, the report said.

With PTI Inputs