World Economic Forum is a huge platform to showcase India and Indian states on a global level. It is an opportunity to grab the attention of investors. Delegates of different countries like Donald Trump, George Soros, and CEO’s of many multinational countries attend this event.
Each country representatives will speak in front of hundreds of billionaires and government representatives of various nations. They will speak about India’s performances in various indexes released in that year. It has a great reputation that the ranking indexes released by WEF are used to judge the performance of a particular country.
The WEF 2020 is held in Switzerland’s Davos. Here the delegates discussed climate change, geopolitical tensions, economy, gender equality, and government transparency. Usually, Prime Minister attends this summit but this time Union Minister Piyush Goyal attended the event. And Telangana IT minister K.T.Rama Rao stood as the center of attraction with his way of representing the states.
Piyush Goyal spoke on how the Indian Economy is relatively stable even though the global economy is worse. India said that the government will be liberal and sign equitable trade deals with all the countries and maintain bilateral relations. Donald Trump mentions his idea to start a TRADE WAR WITH EUROPEAN NATIONS. It is a very big announcement in WEF 2020.
Coming to the Impact of WEF on Telangana, IT minister KT RAMA RAO grabbed the attention of 5 multinational companies to invest in Telangana. Already an official note came up from the PIRAMAL PHARMA GROUP to invest 500 crores in the coming years. KTR spoke directly explaining the ease of business developments in Telangana with 30 different countries. One important thing is, as Hyderabad got to be the best city in the world in means of living, delegates of different nations talked mentioned Telangana state in various instances.
Along with PIRAMAL GROUP, 4 other MNC’s agreed to invest in Telangana whose details are enclosed because of the municipal election code in Telangana. KTR took this venue to talk with Piyush Goyal personally ahead of the budget 2020. Indian Government announced PHARMAPARK worth 20000 crores and KTR gave organizational inputs and requested to start the project as early as possible. It is an encouraging aspect that, even India is struggling because of inflation, AP & Telangana are doing better in GDP growth.