Davos summit is of frugal relevance to the common Indians
India WEF summit: Honeymoon
The annual World Economic Forum summit has always been nothing more than honeymoon trips. This year was no exception. Over 400 Indian leaders from business, government, academia and civil society gathered in Davos, Switzerland for the five day summit (26-30 January, 2011) to find solutions to some common problems affecting the world at large. Irrespective, this has little relevance to common Indians and their miseries.
Davos has been a popular platform for business leaders. This year, over 2500 leaders from business, politics and international organisations participated to brainstorm, debate and discuss on the worst global challenges including overcoming recession and rise in inflation in emerging economies, under the theme “shared norms for the new reality.” Initially, the main objective of WEF was to bring European business leaders together. With increasing popularity, objectives broadened and it eventually became a platform for European and American business leaders to interact. As it attracted leaders from politics and academia, the issues covered in WEF expanded from business to economy and other global issues. But all this has never been an effective platform for solving serious problems. Leaders come with various views but hardly agree with each other.
India has attracted enough attention and participation of Indian leaders is ever increasing. India was represented by economic elites like Anand Mahindra and Mukesh Ambani this year. The irony is that while they had gone to share India's way of ‘inclusive growth’ with the global audience, this has actually been a failure domestically. The government has thoroughly failed to meet peoples’ expectation. A 100 million people are yet to be covered under government programmes. The government, whose 'national priority' is 'sustainable development,' has been struggling to curb inflation.
There is a stark disparity in education, particularly for girls. Inequality of income is widening too. Over 80 per cent of the total wealth increase was accumulated by the top 1 per cent rich in the US between 1980-2005. The top 100 wealthiest Indians control 25 per cent of India's GDP. India ranks second in the list of billionaires against trillion dollar economy with 55 billionaires from a $1.1 trillion economy, only after Russia, with 87 billionaires and a $1.3 trillion GDP. Billionaires are certainly not unwelcoming but their wealth creation, mainly from the nation’s land, resources, government contracts and licenses, is diluting the very essence of an egalitarian society.
Phew... Did the WEF summit discuss all this and find out a solution to it all? Rather than launch into a reprisal of our diatribe, we'll simply comment, "Come off it!" WEF was never intended to find real solutions; just real venues.
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'Thorns to Competition' - You can order your copy online from here
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The annual World Economic Forum summit has always been nothing more than honeymoon trips. This year was no exception. Over 400 Indian leaders from business, government, academia and civil society gathered in Davos, Switzerland for the five day summit (26-30 January, 2011) to find solutions to some common problems affecting the world at large. Irrespective, this has little relevance to common Indians and their miseries.
Davos has been a popular platform for business leaders. This year, over 2500 leaders from business, politics and international organisations participated to brainstorm, debate and discuss on the worst global challenges including overcoming recession and rise in inflation in emerging economies, under the theme “shared norms for the new reality.” Initially, the main objective of WEF was to bring European business leaders together. With increasing popularity, objectives broadened and it eventually became a platform for European and American business leaders to interact. As it attracted leaders from politics and academia, the issues covered in WEF expanded from business to economy and other global issues. But all this has never been an effective platform for solving serious problems. Leaders come with various views but hardly agree with each other.
India has attracted enough attention and participation of Indian leaders is ever increasing. India was represented by economic elites like Anand Mahindra and Mukesh Ambani this year. The irony is that while they had gone to share India's way of ‘inclusive growth’ with the global audience, this has actually been a failure domestically. The government has thoroughly failed to meet peoples’ expectation. A 100 million people are yet to be covered under government programmes. The government, whose 'national priority' is 'sustainable development,' has been struggling to curb inflation.
There is a stark disparity in education, particularly for girls. Inequality of income is widening too. Over 80 per cent of the total wealth increase was accumulated by the top 1 per cent rich in the US between 1980-2005. The top 100 wealthiest Indians control 25 per cent of India's GDP. India ranks second in the list of billionaires against trillion dollar economy with 55 billionaires from a $1.1 trillion economy, only after Russia, with 87 billionaires and a $1.3 trillion GDP. Billionaires are certainly not unwelcoming but their wealth creation, mainly from the nation’s land, resources, government contracts and licenses, is diluting the very essence of an egalitarian society.
Phew... Did the WEF summit discuss all this and find out a solution to it all? Rather than launch into a reprisal of our diatribe, we'll simply comment, "Come off it!" WEF was never intended to find real solutions; just real venues.
For More IIPM Info, Visit below mentioned IIPM articles.
Arindam Chaudhuri bags Delhi team of i1 Super Series
Management Guru Arindam Chaudhuri Dean Business School IIPM
IIPM Excom Prof Rajita Chaudhuri
IIPM: What is E-PAT?
IIPM RANKED NO.1 in MAIL TODAY B-SCHOOL RANKINGS
'Thorns to Competition' - You can order your copy online from here
IIPM Mumbai Campus
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Rashmi Bansal Publisher of JAMMAG magazine caught red-handed, for details click on the following links.
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