Latest updates: Prime Minister Narendra Modi will deliver the opening keynote address at the World Economic Forum (WEF) at 3.45 pm IST on Tuesday. He will also interact with 120 members of the International Business Council on Tuesday, which is a part of the WEF.
The prime minister is likely to emphasise his government's vision of a 'New India' and position himself and the country as a democracy willing to engage with all corners in a friendly, multi-dimensional manner, according to The Economic Times.
Maharashtra chief minister Devendra Fadnavis told ANI that global CEOs applauded India's efforts to bring in a regime like GST. "GST and demonestisation were bold initiatives and people now feel economy is getting cleaner and predictable," he added.
The prime minister is accompanied by six Union ministers, including Finance Minister Arun Jaitley, Railway Minister Piyush Goyal, Commerce Minister Suresh Prabhu, Dharmendra Pradhan, MJ Akbar and Jitendra Singh.
Besides, Maharashtra chief minister Devendra Fadnavis and Andhra Pradesh chief minister Chandrababu Naidu, over 100 CEOs will also accompany Modi. This will take Indian delegation's total to 129 — the fourth highest after the US (780), the UK (266) and Switzerland (233 people). China will have 118 participants.
Prime Minister Narendra Modi with Switzerland President Alain Berset in Davos. AP
Ahead of the meeting, Modi, in a series of tweets with the hashtag #Indiameansbusiness, announced his agenda for the five-day global event.The World Economic Forum Annual Meeting 2018 is taking place in Davos-Klosters, Switzerland, under the theme 'Creating a Shared Future in a Fractured World'. Prime Minister Narendra Modi is at the summit. It is the first time since 1997 that an Indian prime minister is attending the Davos summit
According to WEF's 'Readiness for the future of production report', India, with total manufacturing value of $420 billion in 2016, is fifth largest manufacturer in the world with over 7 percent per year growth on average. The country's total manufacturing value accounts for 12-15 percent of the total global value. "Home to the second-largest population in the world and one of the fastest growing economies, the demand for Indian manufactured products is rising. India has room for improvement across the drivers of production, except for demand environment where is ranks in the top 5," the WEF said.
Superstar Shahrukh Khan has also been invited for the mega event to talk about 'women empowerment' and its significance for India.
(With PTI inputs)