India Inc out in full force for ‘Summer Davos’ in China

India Inc out in full force for ‘Summer Davos’ in China

Dalian: Top CEOs of India Inc along with Gujarat Chief Minister Narendra Modi as well as a couple of MPs will lead the large Indian contingent at the World Economic Forum’s (WEF) Inaugural Annual Meeting of New Champions, which opens on 6 September in the northeast city of China.

Dubbed ‘Summer Davos´, the three-day meeting is focussed on the roles the new generation of fast-growing multinational companies are playing.

The WEF summer meeting is expected to draw together some 1,700 government officials, scholars and business leaders from 90 countries, the organisers said.

Chinese Premier Wen Jiabao will deliver a keynote speech on Thursday at the start of the meeting, outlining major policies of his government as the ruling Communist Party of China prepares to hold its 17th Congress from October 15.

Participants will discuss topics including shifting global business environment, China’s economic development and how businesses go global, Head of the World Economic Forum Beijing Office, Jeremy Jurgens, told PTI.

Welcoming the increased participation of Indian CEOs in WEF meetings, Jurgens said he expected that the meeting would closely discuss what is happening in China and India, the two fastest growing economies of the world.

The meeting will feature a discussion on India under the title: ‘Growth Hotspots - Focus on India.´

With strong growth and a buoyant business climate, interest in India has moved beyond outsourcing offerings and basic IT services.

The session on India will look at the regions and cities doing best in India, those likely to come up fastest, key industry sectors likely to be future growth hotspots and how India Inc. strategises its international acquisition moves over the coming years.

Modi is scheduled to hold a ‘Gujarat Dinner´on the sidelines of the WEF meeting, wooing global giants to set up shops in his booming state.

Unlike the “Winter Davos" which focuses on the top-500 companies, most of the Dalian participants with the business sector come from global growth companies (GGC) with an annual turnover between $100 million and $5 billion each and no less than 15% year-on-year growth.

Officials from the fast-growing “golden bricks" countries include Indian parliamentary members Naveen Jindal and Jyotiraditya Scindia, Brazilian Trade and Investment Promotion Agency Director Mauricio Borges and Vice Minister of Foreign Trade of Brazil Ivan Ramalho.

Deputy Chairman of the Planning Commission N K Singh and Indian Ambassador to China Nirupama Rao are also expected to attend the meeting.

Chairman, Essar Group, Shashi Ruia; CEO and Managing Director of Ranbaxy Laboratories Limited, Malvinder Mohan Singh and a galaxy of others business leaders are attending the meeting.

Ten plenary sessions and about 80 penal discussions will be conducted during the meeting, focusing on GGC development and issues ranging from global warming to AIDS.