WEF meet begins; India to hard sell retail, IT sectors
Indian leaders are all set to showcase the country as an attractive investment destination, especially for retail and IT, at this year's WEF meet that began today at the snow-laden Swiss town amid uncertain global economic environment.
January 23, 2013 / 08:49 IST
Indian leaders are all set to showcase the country as an attractive investment destination, especially for retail and IT, at this year's WEF meet that began today at the snow-laden Swiss town amid uncertain global economic environment.
This year's edition of World Economic Forum (WEF) meet on the theme 'Resilient Dynamism' would see participation of high profile leaders like German Chancellor Angela Merkel. The meet is expected to mostly deliberate on ways to contain fiscal woes and boost global growth. Urban Development and Parliamentary Affairs Minister Kamal Nath accompanied by Commerce and Industry Minister Anand Sharma, Heavy Industries and Public Enterprises Minister Praful Patel and Power Minister Jyotiraditya Scindia would hard sell India investment story to global audience.Davos leaders uneasy over glut of easy moneyIndian corporate honchos including Mukesh Ambani, Lakshmi Mittal, Anand Mahindra, Rahul Bajaj, Sunil Mittal, Azim Premji and well known banker Chanda Kochhar are expected here.With Indian government moving ahead with reforms, retail sector is expected to be the eye candy from the Indian side. 'Its (India) is a land of land of billion opportunity with 260 per cent retail business growth by 2020,' read a banner on city buses. The banner, put out by the India Brand Equity Foundation (IBEF) also reflects optimism over FDI in retail, mainly after the government on Monday approved Swedish major IKEA's Rs 10,000 crore investment proposal.At the same time, Infosys, Tata Consultancy Services (TCS), Wipro, HCL Technologies and Mahindra Satyam, among others, would present the country's potential in the growing IT sector. Ambani, Mahindra and other businessmen would assert the growth potential offered by India for investors in various other sectors. Among the galaxy of global leaders like British Prime Minister David Cameron and Russian Prime Minister Dmitry Medvedev, heads of World Bank, IMF and CEOs of many blue-chip firms would be in attendance. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
