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

Attendees listen to a virtual speech delivered by U.S. president Donald Trump, at the Annual Meeting of World Economic Forum in Davos, Switzerland, on January 23, 2025.
| Photo Credit: AP

U.S. President Donald Trump used an address on Thursday (January 23, 2025) to the World Economic Forum to promise global elites lower taxes if they bring manufacturing to the U.S. and threatened to impose tariffs if they don’t.

Speaking by video from the White House to the annual summit in Davos, Switzerland, on his third full day in office, President Trump ran through his flurry of executive actions since his swearing-in and claimed that he had a “massive mandate” from the American people to bring change. He laid out a carrot-and-stick approach for private investment in the U.S.

“Come make your product in America and we will give you among the lowest taxes as any nation on earth,” President Trump said. “But if you don’t make your product in America, which is your prerogative, then very simply, you will have to pay a tariff — differing amounts — but a tariff, which will direct hundreds of billions of dollars and even trillions of dollars into our treasury to strengthen our economy and pay down debt under the Trump administration.”

President Trump, who spoke on Wednesday to Saudi Arabia’s crown prince, also said Thursday that the kingdom wants to invest $600 billion in the U.S. but that he would ask Crown Prince Mohammed bin Salman to increase it to $1 trillion. The remark drew some laughter from the crowd in the hall in Davos.

Introducing President Trump, Davos founder Klaus Schwab told the new president that his return and his agenda have “been at the focus of our discussions this week.” He invited President Trump to speak at the summit in person next year.

President Trump, who promised to end the Russia-Ukraine war before taking office, said it remained a top priority, but he offered few clues for how he would do so.

“One thing very important: I really would like to be able to meet with President Putin soon and get that war ended,” President Trump told the Davos audience. “We really have to stop that war. That war is horrible”

Earlier in his address to the forum, President Trump laid blame on the OPEC+ alliance of oil exporting countries for keeping the price of oil too high for much of the nearly three-year war. Oil sales are the economic engine driving Moscow’s economy.

“If the price came down, the Russia-Ukraine war would end immediately,” President Trump said. He added about OPEC+, “They are very responsible to a certain extent for what’s taking place.”

Oil prices have more recently slumped due to weaker-than-expected demand from China as well as increased production from countries such as Brazil and Argentina that aren’t in OPEC+.

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.