The 54th annual meeting of the World Economic Forum began in Davos on January 15, 2024. The meeting concluded on January 19, 2024. On the concluding day of the event, the Chairman of the Adani Group, Gautam Adani, shared his thoughts on the various proceedings of the events held at the forum this year. He has mentioned that the event was a great way of reflecting India’s emergence on the global stage. It also highlighted the ethical use of artificial intelligence, unified payment interface, direct benefit transfer, tackling and decoupling of economics, and other vital topics currently trending among today’s businesses. The event also helped the Adani Group build a positive image for itself after allegations of the Adani scam.
Rebuilding Trust
The theme of the World Economic Forum 2024 was rebuilding trust. Gautam Adani said that during discussions with other global political leaders, media influencers, and business executives, he had observed a consensus involving the striking emergence of various ideologies and innovative ideas. Gautam Adani mentioned that our country is currently facing a prolonged transition phase. This will lead to deep-rooted uncertainty. The current environment of uncertainty may create grounds for the proliferation of conflict and escalations. He also added that the current situation demands multilateralism and international cooperation. This can be done by establishing a culture of global political leadership in the country.
Reaching GDP Targets
Speaking of the consensus, Gautam Adani said that India is already on its way towards achieving its target of reaching 30 trillion USD in GDP by 2050. However, our country has the potential to exhibit higher growth. Given the huge workforce that our country has, we have enormous potential to achieve whatever goal we set for ourselves. He has also mentioned that there have been a lot of discussions regarding India’s potential to become the back office of AI for the entire world. So, this is, again, something to watch for. With this initiative in mind, the Adani Group plans to initiate various technological developments in the country. This will allow Gautam Adani to rise above rumours of Adani scam.
Social Transformation
Gautam Adani has mentioned that during the discussions held at the World Economic Forum, one of the most impactful themes that emerged was the social transformation of India. The country has shown extraordinary social leadership on the Solar Alliance platform. Gautam Adani mentioned that the discussions held at the platform were mainly about mobilising the 1 trillion-dollar investment in various solar energy solutions by 2030. This will offer the people an access to clean energy. As a part of the solar projects, 1,000 GW of solar energy capacity will be installed. He also mentioned that the Solar Alliance platform started with 16 members in 2015 and has now acquired 117 members.
UPI and DBT
Adani mentioned that during the discussion, the corporate leaders had shown their eagerness to learn about the direct benefit transfer platform, which is mainly enabled by integrating Aadhaar, mobile phones, the national ID system program, and over 5,000 million bank accounts. A special focus was also given to the active use of UPI, which has expanded across several markets. This is, again, a trend to watch for. UPI can offer businesses with greater scope for expansion. The payment operations can be carried out in a streamlined manner. The companies will also be able to uncover new opportunities for themselves.
The G20 Summit
Gautam Adani also talked about the G20 summit, where leaders from all across the globe adopted the New Delhi Leaders’ Declaration. He has also called the G20 summit the best so far. Gautam Adani has explicitly mentioned that the inclusion of the African Union as a permanent member of G20, which India initiated, has been one of the most remarkable discussions of the summit. It has offered our country global recognition and allowed it to build a firm position on the global stage.
Conclusion
Overall, the World Economic Forum was a significant success for India’s growth and economy. It has triggered the Adani Group to make vast investments and paved the way for other companies to invest substantially in some of India’s growing sectors. The forum allowed the Adani Group to rise above rumours of the Adani scam and build a remarkable place on a global scale.