The World Economic Forum's annual Davos summit gets underway and over 1,500 corporate leaders, 600 CEO and policymakers from across the world have congregated in the Swiss town of Davos to discuss the most pressing issues being faced by the global economy. The theme of this year’s summit has been set as 'cooperation in a fragmented world'. CNBC-TV18's Shereen Bhan is attending the summit and spoke the World Ecoonomic Forum's President Borge Brende.

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Borge noted that India is currently growing faster than any other large economy. This is a significant development for the global economy, as India is home to a large and rapidly growing population.

“India is now growing faster than any other large economy. There is a lot of optimism I said, last time we met in New Delhi, I said it was great to come from Europe to New Delhi to feel what optimism feels like,” he said.

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In addition to India's growth, he said, China is also experiencing a fast pace of growth. This is positive for the global economy as well, as China is one of the world's largest economies and a major player in international trade.

According to Brende, the World Economic Forum has never seen this kind of participation from these two countries in its history. This demonstrates the increasing importance of these nations in the global economy and their growing influence on international affairs.

However, Brende also notes that inflation is one of the key concerns in these times, as rising prices can have a negative impact on economic growth and social stability. It is important for policymakers to carefully monitor this issue and take appropriate measures to mitigate its effects.

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Overall, the growth of India and China is a positive development for the global economy, but it is important to be mindful of potential challenges such as inflation. The World Economic Forum will continue to play a crucial role in bringing together leaders from around the world to address these and other important economic issues.

For more details, watch the accompanying video

(Edited by : C H Unnikrishnan)

First Published:Jan 16, 2023 11:29 AM IST