The World Economic Forum (WEF) is an organisation established in 1971 in Switzerland. It brings together top leaders to discuss how to improve the state of the world. It is integral to solving international conflicts and sets forth practical agendas that can save the global economy. Politicians, industries, and even religious leaders are members of the World Economic Forum. The Davos Summit 2022 took place from January 17 to 21, 2022. Indian Prime Minister Narendra Modi delivered a speech on the “disposable” trend of consumerism at the World Economic Forum. Read on for a closer look at the Indian stance at the forum and how it ranked compared to other nations.

India’s Stance at WEF

  • Fighting climate change: PM Modi suggested that a ‘green lifestyle’ will reduce the harmful effects of climate change. At the Davos summit in 2022, India proposed to the world to launch a grassroots movement with the “3 Ps” – “Pro Planet People”.
  • Fighting COVID-19: Indian doctors and medical professionals played a pivotal role in tackling the global COVID-19 pandemic. India is the third-largest pharmaceutical producer in the world, which allows it to administer life-saving doses and vaccines to protect people from the epidemic. India diligently followed the “One Planet, One Health” vision and donated medicines and vaccines to many countries in need.
  • Business, innovation, and entrepreneurship in India: India noted that more than 5 million software developers have worked in the country in the past six months, and 10,000 startups have been registered. The digital infrastructure that India has developed and adopted in recent years has proven to be an important asset for India. Examples include the Arogya Setu app to detect COVID-19 infections and the Co-Win portal. In the past few years, India has also made remarkable progress in drone technology and geospatial mapping.

India’s Rank in World Economic Forum

  • Environmental Performance Index: EPI is a biennial index produced by Yale University and Columbia University in conjunction with the World Economic Forum. India stands in 168th position in the 2020 12th edition of the Environmental Performance Index (EPI). India ranked 177th in 2018.
  • Global Gender Gap Report: According to the Global Gender Gap Report 2021 published by the World Economic Forum, India ranks 140th out of 156 countries with a score of 0.625 out of 1. The Global Gender Gap Report scores the Global Gender Gap Index (GGGI), which examines gender gaps across four dimensions: participation and economic opportunity, education, health and survival, and political empowerment. Compared to last year, India’s score fell mainly due to the dimension of political empowerment.
  • Global Risks Report: The World Economic Forum recently released its annual report, Global Risks Report 2022. It tracks the views of risk experts and global leaders in business, government and civil society on global risks. It examines five categories of risk: economic, environmental, geopolitical, social and technological.

Members of the World Economic Forum

The World Economic Forum (WEF) is a non-commercial international organisation that provides a platform for leaders from around the world – business, government and civil society – to come together. 

The foundation is primarily funded by its 1,000 member companies – mostly global ones. Membership to the World Economic Forum is strictly invitation-based, and applicants are carefully vetted before they are granted member status. Businesses must have a proven track record of ethical conduct and a drive to make the world a better place.

Conclusion

The World Economic Forum (WEF) is an international non-governmental organisation based in Geneva, Switzerland. It provides a global platform for world leaders to discuss agendas that can benefit the international community. India’s stance at the economic forum was to solve the global health and environmental crisis by leading a green lifestyle and ensuring health for all. Prime Minister Modi also demonstrated the government’s progress in technology for the development and growth of the nation.