Davos:

Any further sanctions against Russia will not have any impact on India’s crude oil requirements and the global prices should remain stable in the USD 75-80 per barrel range, as all sanction fears have already been factored in, Indian Oil Chairman Arvinder Singh Sahney said on Thursday.

Speaking to PTI here during the World Economic Forum Annual Meeting, he also said there are several energy sources that can be tapped to meet India’s energy requirements in case of any eventuality.

Asked about the Indian participation at Davos, Mr Sahney said it feels great to see India with a big presence here.

“It helps as so many global corporates we can meet here at a single place. We can exchange ideas with all of them, and that’s good for the company and economy as a whole,” he added.

On Donald Trump’s second US presidency and its impact on India, he said it should be positive for the energy sector because “he has emphasised that we have to produce more energy and we are not averse to more energy sources. It is always better to have more and more energy sources”.

India imports nearly 87 per cent of crude oil, and if the country gets more than one source, it would be better, he said.

On fears that Trump can impose more sanctions on Russia if the war doesn’t stop, he said it would not have any major impact.

“Before the Ukraine war started, India used to get less than 2 per cent oil from Russia. After the war started and Russia was not allowed to sell to Europe etc, we started getting more from Russia.

“If that goes down due to sanctions, we have other sources to compensate for that. We have not left our other sources, whether they are in the Gulf, OPEC, OPEC-plus, the US, Guyana or Brazil,” he added.

Also, he said, there are new non-OPEC countries, and there is no dearth of crude oil.

“What price we will get, what would be quantity and how the transportation will happen, we will look into all of that, but I can assure you that there won’t be any impact on availability or the energy security of the country,” the IOC chief said.

On what impact it can have on global crude prices, Mr Sahney said there should not be much effect on global prices.

When the sanctions were first imposed, the prices had gone up to USD 83 per barrel, but it has come down slowly in the last 5-7 days, and now, it is around USD 79, he explained.

“All the concerns were already factored in…and my personal assessment is that it will be in the range of USD 75-80,” he said.

On budget expectations, he said the support needed from the government for the energy sector is already there, and there is no further specific demand as of now. “Whatever specific support we need, we are already getting, and we do not think there would be anything negative for us in the budget,” he noted.

(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.)

India Pavilion at World Economic Forum (WEF) annual conference 2025 in Davos, Switzerland was inaugurated by Union Minister of Food Processing Industries Chirag Paswan, Union Minister of State for Skill Development and Entrepreneurship Jayant Chaudhary and others.
| Photo Credit: By Arrangement

India Pavilion at World Economic Forum (WEF) annual conference 2025 in Davos, Switzerland, was inaugurated by Union Minister of Food Processing Industries Chirag Paswan, Union Minister of State for Skill Development and Entrepreneurship Jayant Chaudhary along with Telangana Chief Minister A. Revanth Reddy, Telangana IT and Industries Minister D. Sridhar Babu and Kerala Industries Minister P. Rajeeve. 

They have formally declared open the Telangana Pavilion too. This was followed by a discussion on various projects where Telangana could set an example for India, as per official communication which added that the two union ministers also promised maximum support for various State initiatives in skills development and food processing.

Davos/New Delhi:

World Economic Forum (WEF) president and CEO Borge Brende has predicted India’s growth has potential to reach 7-8% with the help of reforms.

At Davos, where the WEF brings together some of the world’s biggest leaders and thinkers, India has had a huge presence every year, and one of the primary themes has been growth.

“India has a great potential, and it is still growing pretty well, 6 per cent this year. But there is no reason why India cannot pick up again and do 7 per cent, 8 per cent, provided that there are reforms on investments, infrastructure, investing in education and R&D [research and development],” Mr Brende told NDTV.

“We do expect that in a few years, India will be 20 per cent of the overall global growth. That is quite incredible. And what works also for India is the enormous strength in startups. There are more than 1,20,000 startups in India. I think there are now more than 120 unicorns. So that ecosystem, I think, is the basis also for future growth,” the WEF president said.

On whether India’s target of becoming a developed nation by 2047 is realistic, Mr Brende said India will be a $10 trillion economy soon, and what also works in the interest of India is that trade is now pivoting more towards digital trade and services.

“That’s growing three times faster than traditional goods. And these are areas where India is very strong,” he said.

To a question by NDTV on some of the key challenges or opportunities that come with greater digitalisation of the workforce, Mr Brende said, “It’s increased productivity. And productivity is like producing more with less resources. And of course, this will challenge some jobs that are back offices today or other jobs. But if that can lead to people moving into areas where you produce higher up in the value chain, you can pay better, you can produce more. And that’s prosperity.”

“So, for India, there are of course huge opportunities when it comes to the new technologies. But short term, it also creates challenges because one has to upskill and reskill people,” the WEF president said.

Climate Agenda

With the world grappling to stick to the 1.5 degree Celsius or below mark, the WEF has integrated climate as a primary driver in its processes.

“It’s [climate] incredibly important. And I think you just came back from Los Angeles. You saw the wildfires. We have seen droughts. We know that agriculture production, production of food is being more challenged now because there are areas where you can’t just grow what you used to grow.

“So in general, I would say that the cost of inaction far exceeds the cost of action when it comes to climate change. So we need to keep up the momentum. We will need to emit less CO2 (carbon dioxide) in the years to come to even be able to stick to a 2 degree target,” Mr Brende told NDTV.

He said the 2 degree target means a lot, especially to countries that are most vulnerable, which happen to be countries that have emitted the least CO2, traditionally being African countries, but also including India that has already seen heat waves and “seen the cost of this”.

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.

India’s participation at Davos 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.

Davos:

A day before the World Economic Forum (WEF) was scheduled to start in Davos, the highest town in Europe has turned into a fortress with the deployment of 5,000 Swiss army personnel. Over the next week, the small Alpine resort town will host some of the biggest names in the world– from business to government and civil society to art and culture and a lot of others– for the rare annual confluence. 

Swiss Parliament has approved the deployment of a maximum of 5,000 soldiers, some of those equipped with the latest gadgets like drones and AI-powered tools, to support the large number of police and civilian personnel tasked to secure the Swizz skeeting town. Given the high-profile nature of the event, beginning Monday, the security is both discreet and visible and comprises snipers, drone jammers, regular frisking and checking and round-the-clock patrol.

The 2025 WEF meeting will be held from January 20-24, but the Swiss Army’s mission lasts from January 14-30. The 55th Annual Meeting of the World Economic Forum will convene under the theme, Collaboration for the Intelligent Age.

All About World Economic Forum In Davo

It all began in the early 1970s when the Cold War split the world while the Vietnam War split America. An oil crisis was looming over the world when a German economics professor had a bright idea. Professor Klaus Schwab came up with “stakeholder theory”, which states that a “company should serve all its stakeholders, not just its shareholders– employees, suppliers, and the community it is part of. The idea was unconventional at the time, but it has since taken hold.”

According to Schwab, “It is a form of capitalism in which companies do not only optimize short-term profits for shareholders, but seek long-term value creation, by taking into account the needs of all their stakeholders, and society at large.” 

In 1971, Professor Schwab founded the World Economic Forum as a not-for-profit foundation under the supervision of the Swiss Federal Government to promote stakeholder capitalism. He chose Davos as the home for the annual meeting for the escape from the every day that the mountains represent in Swiss and German culture.

Initially, the forum focused on how European firms could catch up with US management practices. But by 1973, global events like the Arab-Israeli War and the collapse of the Bretton Woods fixed exchange rate mechanism led to the annual gathering expanding its focus from management to economic and social issues.

In 1975, the forum introduced a membership system for ‘the 1,000 leading companies of the world’. Since then, every year, Davos brings together some 3,000 participants (including paying members and selected invitees), among whom are investors, business leaders, political leaders, economists, celebrities and journalists, for a five-day summit that discusses global issues. 

Per the forum’s official site, over the last fifty years, Davos has addressed the key events of world history, from the fall of the Berlin Wall to the rise of economic globalization and runaway climate change. It also contributed to averting a war between Greece and Türkiye, built economic bridges around the world, and gave a platform to leading environmentalists among other things.

List Of Key Attendees At 2025 WTF

US President-elect Donald Trump, German Chancellor Olaf Scholz and Ukraine President Volodymyr Zelenskyy will be among 60 top political leaders from across the world who will address the World Economic Forum meeting in Davos from Monday.

Announcing the detailed schedule, Geneva-based WEF last week said the meeting would see participation by nearly 3,000 leaders from over 130 countries, including 350 governmental leaders. 

Among top political leaders, Trump will join via live video link for an interactive dialogue with participants, while those present in person would include European Commission President Ursula von der Leyen, China’s Vice-Premier Ding Xuexiang, German Chancellor Olaf Scholz, Argentina President Javier Milei, European Parliament President Roberta Metsola, South Africa President Matamela Cyril Ramaphosa, and Spain President Pedro Sanchez.

Swiss President Karin Keller-Sutter, Bangladesh Government’s Chief Adviser Muhammad Yunus, Iraq President Abdulatif Rashid, Israel President Isaac Herzog, Malaysia President Anwar Ibrahim, Palestinian National Authority Prime Minister Mohammed Mustafa, Singapore President Tharman Shanmugaratnam, Ukraine President Volodymyr Zelenskyy, and Viet Nam PM Pham Minh Chinh will also be there.

Heads of international organisations taking part would include World Trade Organization’s Ngozi Okonjo-Iweala, IMF’s Kristalina Georgieva, NATO’s Mark Rutte, WHO’s Tedros Adhanom Ghebreyesus, and UNDP’s Achim Steiner.

Indian participation would include five union ministers — Ashwini Vaishnaw, CR Patil, K Ram Mohan Naidu, Chirag Paswan and Jayant Chaudhary — and three chief ministers — Devendra Fadnavis, N Chandrababu Naidu and Revant Reddy, along with other ministers from other states and over 100 CEOs.

With the global economy undergoing a paradigm shift, the five-day meeting beginning January 20 will explore how to re-launch growth, harness new technologies and strengthen social and economic resilience, the WEF said in a statement.

Over 1,600 business leaders, including more than 900 of the world’s top CEOs, will also participate, along with over 120 of which are Global Innovators, Tech Pioneers and Unicorns who are transforming industries.

More than 170 leaders from civil society and the social sector — from labour unions, non-governmental organisations, religious and indigenous communities, as well as experts and heads of the world’s leading universities, research institutions and think tanks — will participate in the meeting.

India Pavillion

States in India have used to have fierce competition for setting up individual pavilions along the promenade at Davos during the World Economic Forum (WEF). This was to vie for larger chalets to attract global investors and make a mark. But, in a significant shift, this year there will be just two India pavilions- one occupied by the Union Government delegation while the other by six states- Uttar Pradesh, Maharashtra, Tamil Nadu, Telangana, Andhra Pradesh and Kerala. All state will, however, reportedly have their own floors in the second pavilion.

Talking about the agenda of WTF 2025, Union minister Ashwini Vaishnaw on Sunday said there was a lot of interest globally in Prime Minister Narendra Modi’s economic policies, which would be the focus of discussions at the World Economic Forum in Davos.

Vaishnaw is leading the Indian delegation at the annual World Economic Forum meeting beginning Monday. He noted that there was a lot of interest in India’s growth story among the international community, particularly about the digital transformation and the new digital architecture.

“In the World Economic Forum in Davos, there is lot of interest in understanding our thought process, the prime minister’s economic policy, about the digital transformation, about the way India has created new digital architecture under the Digital India programme and also the way technology has been democratised. There is a lot of interest on this,” he said.

There will be detailed discussions about inclusive growth, the investment in social, physical, digital infrastructure and on democratising technology, he added.

“The prime minister has put huge focus on inclusive development and a growth that brings a big transformative change in the lives of the people at the bottom of the pyramid, people who have been left out of development over many decades in the past,” said Vaishnaw, the minister for information and broadcasting, railways, and electronics and information technology.

“Whether it is bank accounts, providing toilets, gas connections, tap water connections, getting the basic infrastructure in villages done, infrastructure in urban areas done, this is something which the world wants to understand,” he added.