Indian PM at the World Economic Forum's Davos Agenda 2022

• Indian PM called for collective and synchronized global action regarding policymaking for blockchain-backed digital currencies.
• Speaking at the World Economic Forum’s Davos Agenda 2022 virtual event, the Prime Minister noted that along with the change of the global order, the challenges are also increasing, including supply-chain disruption, inflation, climate change and cryptocurrency.
• This year the Davos Forum is being held from 17 to 21 January 2022, wherein a series of virtual sessions will take place.
• The forum had to be cancelled in 2021 due to the global pandemic.

Davos Agenda 2022

• This will be the first global platform for key world leaders to share their visions for 2022.
• The event is being convened on the theme of “The State of the World.”
• The theme-setting World Economic Forum (WEF) Agenda will see government and corporate leaders talk about critical global challenges.

Davos Forum – inception and significance

• The Forum is traditionally held in Davos, Switzerland, the highest town in Europe (1,560 meters).
• Political, business, cultural, and media leaders who want to be involved in the international agenda attend this yearly gathering.
• Davos was founded in 1971 in Geneva, Switzerland, as a non-profit organisation that was “independent, unbiased, and not linked to special interests.”
• Klaus M. Schwab, a professor at the University of Geneva, initiated it after inviting 444 executives from European corporations to a corporate governance meeting in Davos’ convention centre.
• The Davos Forum generates thousands of ideas, coming from leaders around the world who share thoughts and possible measures based on unique, specific and local experiences of individual nations or corporations.
• Although not all of these ideas come to fruition, several have made significant progress, such as the North American Free Trade Agreement, signed by Canada, Mexico, and the United States, which was initially presented at a Davos informal gathering.

Davos Agenda 2022

• The unprecedented circumstances surrounding this annual meeting, in regards to the ongoing pandemic, presented an imperative need to set clear objectives. Noting this fact, the WEF is emphasizing two aspects in particular:

1. The first and foremost priority is to accelerate the forum’s development and influence in addressing global concerns, particularly COVID and climate change, followed by solutions to overcome these challenges in education and global technology.
2. The second goal is to create a platform for collaboration to stimulate the production of new ideas and inventions by bringing together groups, projects, and individuals who are prepared to contribute.

• The 8 thematic priorities of the Davos Forum are; Global cooperation, economic rebalancing, society and equity, climate and nature, innovation and governance, industrial transformation, risks and resilience, and global health.