Taural India, a leading world-class integrated aluminium foundry, and the Government of Maharashtra have signed a Memorandum of Understanding (MoU) to expand the company’s advanced manufacturing facility in Supa, Ahilya Nagar, Maharashtra. 

According to Taural India, the signing, held at the Maharashtra Pavilion during the World Economic Forum in Davos, was presided over by Chief Minister Devendra Fadnavis and other senior government officials. 

This agreement underscores a bold step toward driving industrial growth and strengthening self-reliance in Tier II regions of Maharashtra.

– ANI

Syria’s Foreign Minister Asaad Hassan Al Shibani speaks with former British Prime Minister Tony Blair during the 55th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 22, 2025.
| Photo Credit:
Reuters

Leaders from various countries on Thursday (January 23, 2025) called for action on artificial intelligence and reforms as they brainstormed during the five-day World Economic Forum Annual Meeting.

Also Read | India at forefront of age defined by tech evolution: WEF report

In a special address, Spanish Prime Minister Pedro Sanchez called for a reform of social media governance across the European Union to curb misinformation and cyber harassment.

The third day of the World Economic Forum saw a windfall for Telangana as the government signed MoUs worth thousands of crores with the prominent being an investment of ₹45,500 crore by Sun Petrochemicals, a leading energy company, which would develop three Pumped Storage Hydro Power projects in the districts of Nagarkurnool, Mancherial, and Mulugu.

On the other hand, Maharashtra signed 54 Memorandums of Understanding (MoUs) at the World Economic Forum in Davos. The total investment is worth ₹15.70 lakh crore, with an expected creation of 15.95 lakh jobs across the state.

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Andhra Pradesh Chief Minister N. Chandrababu Naidu is scheduled to meet Microsoft founder Bill Gates and several other global executives in Davos, Switzerland on Wednesday, officials said.

On the third day of his visit to the Swiss resort town, the Chief Minister will also meet the officials from the World Economic Forum (WEF), they added.

“The chiefs of Unilever, DP World Group, Petronas, Google Cloud, Pepsi and AstraZeneca are going to meet the CM. The CM will also hold discussions with Bill Gates and WEF representatives,” a press release said.

Moreover, Andhra Pradesh is expected to ink an agreement with renewable energy player Greenko and the CM is scheduled to attend roundtable conferences on topics such as organic farming, human mission calibration and green hydrogen, and renewable power, the release added. The CM will promote ‘Brand Andhra’ and showcase investment opportunities in the state, it said.

Read more here.

Davos:

Maharashtra, on the first day of the World Economic Forum (WEF) in Davos, has signed a memorandum of understanding (MoU) worth over Rs 4.99 lakh crore.

This substantial investment promises to create over 92,000 jobs across multiple sectors, including defence, renewable energy, steel, infrastructure, and more.

The largest deal announced was with the JSW Group, which will invest a staggering Rs 3 lakh crore in areas such as steel, renewable energy, cement, infrastructure, and electric vehicles (EVs).

This partnership is set to generate 10,000 jobs in Maharashtra, specifically in Nagpur and Gadchiroli. Chief Minister Fadnavis thanked Sajjan Jindal, Chairman of JSW, for his commitment to Maharashtra’s growth.

In another groundbreaking move, the state secured its first-ever agreement for Gadchiroli, a district that has traditionally seen less industrial development. The Kalyani Group will invest Rs 5,200 crore in defence, steel, and EV sectors, creating 4,000 jobs.

This marks a crucial step towards balancing economic growth across the state, with Gadchiroli being the first district to benefit from such a high-profile deal.

In total, a series of major investments were secured across various industries. Reliance Infrastructure committed Rs 16,500 crore to the defence sector in Ratnagiri, while Balasore Alloys Ltd. and Viraj Profiles Pvt. Ltd. will invest Rs 17,000 crore and Rs 12,000 crore respectively in steel and metals, creating thousands of jobs.

Notably, the food and beverages sector also saw significant investments, with AB InBev committing Rs 750 crore for Chhatrapati Sambhajinagar and Bisleri International pledging Rs 250 crore for the Mumbai Metropolitan Region (MMR), generating hundreds of new jobs.

The agreements span diverse fields including green energy, electronics, logistics, and IT. Among them is a Rs 30,000 crore investment from Wari Energy in solar devices, which will create 7,500 jobs in Nagpur. Another key deal involves Blackstone, which will invest Rs 25,000 crore in IT infrastructure across MMR, generating 1,000 jobs.

Maharashtra Chief Minister Fadnavis emphasised that the state’s commitment to “Ease of Doing Business” has been a critical factor in attracting such substantial investments. “There are long queues of investors outside. We are making the process fast, easy, and investor-friendly,” he stated.

Speaking to ANI, Fadnavis said, “We have signed an MoU with JSW worth Rs 3 lakh crore. It is a different portfolio. It includes EV, solar manufacturing and steel. Our diverse portfolio with JSW is very significant today…We had very good MoUs today. The speciality of MoUs is that they are from almost all fields and they are in various sectors of Maharashtra, various areas of divisions of Maharashtra. We had very good interaction with all the industries and they are very keen to invest in Maharashtra. We are getting investments in manufacturing, IT sector…”.

Notably, the state also secured an agreement with Fuel (Friends Union for Energizing Lives) to train 5,000 youths in Maharashtra in Artificial Intelligence, Digital Marketing, and Business Analytics. Fuel also expressed interest in establishing the Fuel Skilltech University in Pune.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Davos:

Andhra Pradesh Chief Minister N Chandrababu Naidu on Tuesday highlighted India’s evolution as a global economic powerhouse that is expected to contribute the highest incremental global GDP in the world by 2027.

Addressing a CII special session at the World Economic Forum meeting here, the Chief Minister said “In the early 90s, when the internet was invented, India launched economic reforms in 1991. From then onwards, we started working on second-generation reforms. Today, Indian entrepreneurs, especially those from Andhra Pradesh, are making their mark globally. We have the first-mover advantage in technology, demographic dividend, and entrepreneurial skills. We are also one of the most acceptable communities globally.”

He added, “By 2047, India will be the number one or number two economy globally, and Indians will lead in creating wealth and serving the global community. Recent assessments also project that by 2027, India will contribute the most to the incremental global GDP.”

N Chandrasekaran, Executive Chairman, Tata Sons elaborated on the Swarna Andhra Pradesh plan, stating, “This 2047 plan focuses on developing Andhra Pradesh through the Government’s 4P model – public, private, people, partnerships. The plan will include multiple components, with a specific focus on certain sectors to drive economic growth and job creation.”

During the session, the CII Centre for Global Leadership on Competitiveness (GLC) was announced, and a brochure on the same was launched by the Chief Minister.

Highlighting the significance of this initiative, CII Director General Chandrajit Banerjee said, “Moving forward, we are privileged to work with the State Government to establish the Global Leadership Centre (GLC) in Amaravati. This transformative initiative aims to foster value-based leadership, enhance corporate governance, and nurture global leadership competencies.”

The CII Centre for Global Leadership on Competitiveness, which would be completely industry-led, and industry-managed, will have a clear focus on enhancing the competitiveness of industries, both at the national level and within Andhra Pradesh.

The session also witnessed an Exchange of Letter of Intent between CII and the IMD Business School, Switzerland – the first such agreement with an international institution for the Centre for Global Leadership on Competitiveness.

The discussions transitioned into the session on ‘Pathway to India’s Green Industrialisation: From Green Hydrogen to Green Manufacturing’, organised by CII in association with Ernst & Young. Andhra Pradesh Chief Minister N Chandrababu Naidu reiterated the state’s commitment to becoming a hub for green energy and green hydrogen, emphasising the state’s focus on sustainable energy and green manufacturing.

Rajiv Memani, president-designate, CII, and Chairman and CEO, EY India underlined the criticality of green energy for India’s growth aspirations. He stated, “If India has to achieve its growth aspirations by 2047 and increase per capita income by 5 or 6 times, the country’s total energy consumption would need to reach 370 billion gigajoules. Today, India imports 40 per cent of its energy. For India, green energy is not only a necessity but a critical enabler of our growth ambitions.”

The sessions were also addressed by Sajjan Jindal, Chairman, JSW Group, David Bach, president, IMD Business School, Switzerland, G B S Raju, Business Chairman – Airports, GMR Group, Anil Kumar Chalamalasetty, Chief Executive and Managing Director, Greenko Group and Hans-Olav Raen, Chief Executive Officer, Yara Clean Ammonia.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Davos/New Delhi:

One of the key themes of the World Economic Forum (WEF), year after year, is the theme of inclusion. When the world talks about inclusion, diversity is critical, but also the role of women. Former Union Minister Smriti Irani spoke to NDTV at Davos on a wide range of issues linked to women.

One of the key points that Ms Irani, a leader who has done more for social inclusion and the rights of women than perhaps any other leader in India in the last several years, told NDTV is that it is important to look at productivity from a health perspective, instead of seeing it only from a skill set point of view.

She is the chief of the Alliance for Global Good-Gender Equity and Equality (AGG-GEE), launched at Davos in 2024.

On India’s demographic dividend and the potential that it holds in relation to the role of women, Ms Irani told NDTV that broadly, Indians have for too long focussed on what is happening in the country, but now the focus must shift to Indians who are leading the global narrative.

“I believe the time has come that we shift the narrative to Indians leading the global narrative on issues such as inclusion, climate change, health innovations for global good. Many a time, people constrain us only to our geography, believing that we may be only experts on the Indian demography,” the former Union Minister said. “So the lounge that you see here [at Davos] is not a lounge which is dedicated only to the cause of inclusion, or to the energy of inclusion limited to India. We are saying we’ve done this in India for the world.”

Ms Irani said India is taking its learnings to internationally acclaimed establishments such as the World Bank and the United Nations; collaborating with organisations like the World Health Organisation; looking at budgets by policy makers, global innovators and captains of industry on how much investment can come to women-owned businesses and companies that are dedicated to health innovations and products for women, and how to make these products affordable.

To a question about data that shows women own a third of the world’s wealth, and are likely to control 50 per cent of the world’s wealth in the next five years, Ms Irani said the consumption capacity of women around the world currently is $20 trillion.

“That is something that we never talk about. When the inclusion agenda, especially with regards to women, is spoken about, it is more philanthropic in nature. It has to do more with violence, domestic or for that matter, outside. My belief and my experience in the gender agenda is that the more you enhance the capital capacity of a woman, the safer an environment you give her, both at home and at work,” Ms Irani told NDTV. “You cannot talk about just philanthropy, be emphatic in your rhetoric, and not put the money where the mouth is.”

Impact Of AI On Women At Work

At Davos, where the conversation is predominantly on the impact of artificial intelligence (AI) and automation, Ms Irani said if jobs are automated, 70 per cent of the jobs that will go are jobs done by women because most of the jobs of female professionals are at entry level.

“What happens to that big labour force that we have encouraged till now to become a part of global reality? How do they get displaced? What are the strategies of policy makers, of companies with regards to such human potential and capacity? The other part is that if you look around Davos, the conversation this year is on the next level of AI engagement,” Ms Irani said, adding that till now many Indians and global citizens have looked at AI from a generative AI perspective, which means one gives a prompt to an AI service and tells what to draft.

“It [AI service] may give you a prompt on music, on art, but it doesn’t help you manifest, let’s say, a workflow. Now, what happens when you have AI agents, which will become the buzzword for 2025, which is a compounded methodology of AI? Many people presume AI is the new buzzword. AI has been in existence since the 1950s. Now, AI agents will actually lead to a further displacement of talent,” Ms Irani said.

“Are we ready for it? Because in low-income economies around the world, the internet reach is just 20 per cent, maximum 30 per cent. These are all issues that need a conversation around because displaced people means jobs in terms of potential, which are lessened, and job displacement impacts economies and society at large,” she said. “It will no longer be just a female problem. It’ll be a problem for global economies, especially the ones that are developing and haven’t reached that standard yet of per capita income, which can be celebrated.”

Viewing Productivity From Health Angle

The former Union Minister has for many years spoken about the issue of women’s health. On data that every dollar invested in maternal health yields a $30 return because of improved productivity and reduced mortality, Ms Irani said global economies will lose trillions of dollars if they do not look at health innovations that will help maintain productivity of women.

“And these numbers, in fact, are alarming because we’ve never looked at the issue of productivity from a health perspective. Most people, when they get into a discussion about productivity, they look at only the skill set. How much of productivity is debilitated because of lack of affordable health innovation? That is a conversation that is yet to start,” she said.

“So my effort will be to also keep a very, very clear focus on these aspects of productivity, of ensuring that there is more capital into health innovation, especially for women,” Ms Irani said.

Davos/New Delhi:

The five-day meeting at Davos beginning Monday will explore how to re-launch growth, harness new technologies and strengthen social and economic resilience, according to the World Economic Forum. The global meeting will see participation by nearly 3,000 leaders from over 130 countries, including 350 governmental leaders.

NDTV spoke to Commonwealth Fusion Systems CEO Bob Mumgaard, Abhishek Awadhiya of SimpliAI, and Avanti Fellows founder Akshay Saxena – people who have a real say about where it’s all going.

It’s been a year of real crisis around the world, whether it’s conflict, concerns over sustainable development, and concerns over so many issues, not least of all the future of artificial intelligence (AI) and climate.

Nuclear Fusion Energy

Mr Mumgaard began by giving an overview of the future of nuclear plants in terms of fusion energy and safe operations.

“It’s completely different from existing nuclear power. It’s the opposite. In fusion, you’re combining light elements to make heavier ones the same way the Sun works. That means that there’s no meltdown, there’s no connection to weapons, and there’s no long-lived nuclear waste,” said Mr Mumgaard, who is dealing with one of the most interesting aspects of clean energy.

“The issue right now is we still have to develop the technology and deploy it. We’re building on the very first power plants right now. Right now, we’re about halfway through building the first prototype outside of Boston,” he told NDTV.

Mr Mumgaard said his company spun out of MIT (Massachusetts Institute of Technology).

“We started about three years ago building this machine. In about two years, we’ll turn the machine on, and that’ll be an important point in the world where we’ll have, for the first time, industrial-scale fusion power being created by people,” the Commonwealth Fusion Systems CEO said.

On matters of cost, which will be a key factor in producing clean energy, Mr Mumgaard said the goal with all new sustainable energy is to produce energy in a way that the world can enable growth, which means it has to be low cost.

“And one of the great things about technologies like fusion is you’re using all these other technologies that have come before, you’re adding them up. And so you’re getting the cost advantages that came from new ways to manufacture, you’re getting cost advantages that come from simulation and the use of AI and fusion itself. And so we think that this could lead to a low-cost energy source. We need to still build this and have the receipts. And that’s what we’re working on now,” he added.

AI And Workplace Disruptions

Abhishek Awadhiya of SimpliAI said he strongly believes that AI will work in conjunction with humanity and workforce to elevate productivity.

“A lot of our work is – while focused on automation at SimpliAI – we firmly believe that in the near term, all of these AI tools are going to elevate the productivity of workforces across functions and across roles. It’s very important for all the players to really make that argument very clear, very succinct to the people at large, so that the fear factor around AI is actually replaced with positivity and hope,” Mr Awadhiya said.

On jobs disappearing due to AI in the workplace, he said, “Well, as the report of World Economic Forum itself states that while there’ll be about 90 odd million jobs which will be substituted by 2030, but 170 million more would be created. So in my mind, it’s like what happened in the Industrial Revolution. Jobs will get substituted, the jobs which are repetitive, low value in nature, with high-value jobs being moved up the value chain to people. And to me, that is what is going to unlock productivity for humanity at large.”

Future Of Education And AI

Avanti Fellows founder Akshay Saxena cautioned against going too fast with AI in the area of education.

“I think there’s a couple of things to be really careful about, especially when you look at it in the context of a country like India, where we already have massive inequity that’s growing. One is, like Abhishek said, that the nature of work will change, which means you’ll have to almost work with an AI copilot alongside,” Mr Saxena said.

“What are our schools doing to equip kids to do that? And how many kids even have exposure to this? Because the majority of kids in India don’t even have cell phones of their own, or access to the internet in any meaningful way. And what does that mean for our colleges? Because India has amongst the largest engineering workforce that we produce, but also amongst the least employable engineering workforce,” he said. “So how do we quickly remodel our engineering schools, technical schools to actually make graduates AI ready? And if you don’t move quickly on these fronts, this could be quite catastrophic for India’s youth.”

At Davos, India’s participation aims to strengthen partnerships, attract investment, and position the country as a global leader in sustainable development and technological innovation. India is sending five Union ministers, three chief ministers, and ministers from several other states to the WEF this time.