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Big-ticket investments, global praise: India shines at WEF 2023 in Davos

India was hailed as a bright spot in a global economy that was teetering at the edge of a recession and big ticket investment committments were made during the 5-day WEF at Davos.

January 20, 2023 / 02:36 PM IST
Union petroleum and natural gas minister Hardeep Singh Puri attended breakfast session in Davos with Indian Diaspora.

Union petroleum and natural gas minister Hardeep Singh Puri attended breakfast session in Davos with Indian Diaspora. "We discussed ways to channelise their social capital to promote philanthropy & entrepreneurship to benefit India," said Puri in a tweet. "India is moving faster than any other country 2wards a green transition. We are taking advantage of the current energy crisis to accelerate this transition," tweets Puri. (Image: Twitter @FollowCII)

As the world teeters on the brink of a recession, India has emerged as a bright spot at the World Economic Forum in Davos with its strong macroeconomic credentials and investment-friendly policies.

India’s presence at the WEF is testament to its arrival on the world stage with China now taking a backseat not just because of the slowdown induced by the strict virus controls but also because of structural flaws in its property market and the tech crackdown.

Global leaders and noted economists were all praise for India’s strong ability to attract global investments amid a churning in the supply chains with its policies like PLI.

Noted economist Kenneth Rogoff said India's economy will perform better than its emerging economy peers and the China will no longer be the growth engine of the world.