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India’s anti-graft steps, GST & more on Davos table.


Date: 12-01-2018
Subject: India’s anti-graft steps, GST & more on Davos table
NEW DELHI: Global investors will get an opportunity to ask top leaders of the Indian government about the country's efforts to weed out corruption, make doing business easier, new tax system and much more at a special session on the sidelines of the World Economic Forum at Davos later this month. 

While PM Modi will try to hard sell India as an investment destination at the five-day conference at the Swiss town, his ministers and, more importantly, non-governmental organisations will pitch in to convince global businesses about why the country should be on their mind when they think of investment. The India Foundation, a think tank based in India, in collaboration with industry body Assocham and Switzerland-based not-for-profit Indo-Swiss Center, will hold an India-World Business Leadersh Summit on the sidelines of WEF on January 23. 

Some 40 global companies like Credit Suisse, ABB, NovartisBSE 1.10 % and SBB are expected to attend a session where commerce and industry minister Suresh Prabhu and railway minister Piyush Goyal will talk about the steps taken by the Indian government to ease the process of investing in the country. 

The idea is to provide a platform where the stakeholders could come together and discuss the possibilities of investing in India as well as explore the potential for partnerships, said sources. Recently, WEF founder Klaus Schwab called upon India to play the right cards and amplify its economic influence across the world. 

India Foundation directorShauryaDoval, who would be part of an expert panel that would interact with the audience, said the event was aimed at strengthening India's position as a potential investment destination to businesses abroad. "It is important that at events such as this the official stand is corroborated by others, and non-governmental organisations can have a significant role to play in this, to support the official stand and also corroborate it, make an impact on the global business community and also help in putting the best face of India forward." 

The India Foundation, an influential think tank, is run by BJP general secretary Ram Madhav and Doval and has several ministers on its board. "The theme of the summit is leadership through partnership," said Indo-Swiss Center president Govind Sovale. "India is often seen as a conservative country for investments which can change with time," he said. "Those interested in entering the markets in India, the session will provide an opportunity into making some valuable contacts." 

The session will mainly look at addressing concerns of global investors, specifically with respect to GST and political conditions, and discussing trends that are emerging out of the Indian society. 

Source: economictimes.indiatimes.com

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