|Topic: GS2 – Governance – Government policies – Interventions for development in various sectors
This topic is relevant for Mains in the context of India’s economic growth trajectory, global partnerships, technological advancements, and the country’s role in addressing socioeconomic challenges.
- As a key player in the integrated global economy, India acknowledges its responsibility to be a reliable partner in both commercial viability and geopolitical strategy.
- The government’s proactive reform announcements and effective use of technology for governance solutions position India as a country that leverages technology for mass-scale development.
- Discussions at Davos revolved around Artificial Intelligence (AI), emphasizing how India’s digital leadership can contribute to using AI for the benefit of all while minimizing risks.
- The conversations highlighted the need for India to take a lead in identifying the strategic use of AI, building upon its success in adapting digital technologies at scale and cost-effectively.
- India actively participated in discussions on global socioeconomic issues, particularly emphasizing the crucial role of Indian women in economic growth.
- The Women’s Special Lounge highlighted key facts about Indian women’s participation, self-employment, and the solid case for financial institutions to invest in women-owned businesses.
- The discussions on energy transition were deemed critical, aligning with the World Economic Forum’s 2024 emphasis on climate change.
- India faces challenges related to energy transition, including availability, affordability, and sustainability.
- The country’s import dependence on oil is growing, and discussions emphasized the importance of policy strategies, especially in pricing, for a non-disruptive transition.
- India’s growth trajectory in 2024 is projected to be among the fastest globally, characterized by equitable growth across regions, gender inclusivity, and social security measures for disadvantaged sections.
- Moody’s Investors Service recognizes India as a “pocket of resilience” amid global economic uncertainties, attributing this resilience to India’s economic, social, and political stability.
- According to the UNCTAD World Investment Report, India remains a favored destination for global investments.
- The government’s mission to attain developed status by 2047 aligns with India’s consistently strong GDP growth.
- The participation of the Indian industry at Davos aims to reinforce India’s position as a trusted global partner and a resilient economy.
- With a thriving economy and growing global influence, India’s presence at Davos symbolizes not just national progress but a commitment to collaborative global advancement.
- The country’s resilience, supportive policies, and reforms contribute to building a more equitable and inclusive world, reflecting India’s dedication to shaping a bright and sustainable future on the global stage.
|Practice Question: Examine India’s prominent role and economic resilience showcased at Davos 2024 against the backdrop of global challenges. (200 words/12.5 m)