Indian Economy News

WEF 2022: India puts 'new reality' on display with Davos street show

DAVOS, Switzerland Bright colours and prominent logos boldly mark the location of India's base on Davos' main street this year, as the country touts its pro-business and foreign investment drive. Inside a pavilion on the Swiss Alpine resort's Promenade street beneath an "India @ Davos 2022" logo, the federal government served up treats including 'masala chai' tea, 'samosa' snacks and other spicy delicacies. Six Indian states have their own lounges, which are housed in what are generally high street stores.

Food was being cooked at the government's base by a team of 15 chefs flown in from India, along with 450 kilogrammes of veggies and native spices, according to head chef Guru Nathan, as people enjoyed a fragrant morning buffet. Only a few feet away, Indian tech behemoths Infosys, Wipro, and HCL Technologies have established operations near Alphabet's Google, Meta, and Intel.

According to one state government official, more than 100 Indian officials are attending Davos, along with scores of company executives and a handful of startups. It is estimated that there will be 200 Indian participation in all. India just recorded its highest-ever influx of foreign direct investment, which totalled US$ 83.57 billion in 2021-22.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.