Klaus Schwab, the chairman of the World Economic Forum, said that India remains a bright spot amid global geo-economics and a prolonged geopolitical crisis. ¡°I had the pleasure of meeting the Indian ministerial delegation and many of its top business leaders," Schwab said.
Amidst the looming fear of? global economic slowdown, the WEF chairman said: ¡°I commend the country¡¯s decisive action on the climate case for renewables, its contribution to the global healthcare ecosystem, the focus on an economic model for women-led development, and its leadership on digital public infrastructure. India remains a bright spot amid global geo-economics and geopolitical crises."
The founding of the WEF dates back to 1971, when Klaus Schwab invited executives from European businesses to the at-the-time small ski resort of Davos, located high in the Swiss Alps.
Schwab wanted to provide a platform for top corporate executives and policymakers to discuss important global issues and learn about the best management and leadership techniques.
During the period of the forum, delegates attend panels and speeches inside the Congress Center, some of whom have sought-after white badges that grant them greater access.
However a lot of the action takes place outside. The majority of their schedules are taken up by bilateral meetings between heads of state and corporate executives.
Businesses and nations occupy storefronts and dining establishments on Davos' main promenade to host events and panels that draw attendees and the media.
The most exclusive gatherings frequently take place at dinner parties, fireside chats, and cocktail receptions away from the main drag.
More than 600 CEOs will be in the area, including Wall Street professionals like Jamie Dimon of JP Morgan, David Solomon of Goldman Sachs, and James Gorman of Morgan Stanley.
Chief executives of significant energy companies have returned from a COVID-related break with climate change at the top of their agenda.
51 heads of state are present, including Germany's chancellor Olaf Scholz and the presidents of Spain, South Korea, Poland, and the Philippines. An additional 56 finance ministers, 19 governors of central banks, 30 trade ministers, and 35 foreign ministers are scheduled to travel into the mountains.
Attendees include actors Idris Elba and Sabrina Dhowre Elba, cellist Yo-Yo Ma, Renee Fleming, wil.i.am, and internet celebrity Nas Daly.
The Russian delegation isn't there, but Ukraine, which dominated the summit last year, is represented by another high-level delegation, and there are several sessions related to war on the schedule.
Others in the group are Kristalina Georgieva, managing director of the IMF, Christine Lagarde, president of the European Commission, Jens Stoltenberg, general secretary of NATO, and Liu He, vice premier of China.
Tedros Adhanom Ghebreyesus, the director-general of the World Health Organization (WHO), and central bankers like Raghuram Rajan of India are also included.
Whether or not climate activist Greta Thunberg will be at the forum again is unknown.
The theme for this year is "Cooperation in a Fragmented World," which alludes to the tectonic shift in political and economic relations that has taken place since the pandemic.
The yearly event used to be seen as a supporter of globalisation. The world's elite will now gather in the midst of protectionism, a conflict that has strained political allegiances, and widening ideological gaps. A cost of living crisis and rising interest rates also pose a threat to some people's ability to focus on issues at home.
The WEF ranked climate change as the top global risk, and at the forum, executives from energy companies will mingle with environmentalists and ministers.
Other topics will include how to avoid a global recession in 2023, the cost of living, a tight labour market, natural disasters and extreme weather events, the resurgence of COVID infections in many countries, a shortage of energy, and the approaching first anniversary of Russia's war in Ukraine.