The fifth edition of the Global Business Summit was organized in New Delhi on 22nd February 2019. The keynote address was delivered by the Prime Minister of India, Narendra Modi and the other distinguished speakers of the summit were Arun Jaitley, Railway Minister of India Tarun Goyal, Suresh Prabhu, Ravi Shankar Prasad, Founder of Vedanta Resources Anil Agarwal, CMO of Alibaba Group Chris Tung and the Chairman of Bain Insights Group James Root.
The tenacity of this year Global Business Summit was to ascertain and reveal the myriad of contours for the world economy and India and to lead the Indian economy to greater heights.
Brief History of Global Business Summit
The Global Business Summit was inaugurated on January 15, 2015, and it is a flagship endeavor of the Times Group. The Global Business Summit envisages developing a union of government and corporate enterprises along with bringing heads of state, leaders, policy makers, academicians together to bring a transformation in Indian Economy.
The Business Global Summit also provides assistance on macro-economic challenges and put forth a blueprint for sustainable and inclusive growth. Further, it also acts as a conduit for government to government communications and meetings, business to business meetings, business to government interactions and aides government and corporations to secure investments.
Key Highlights of Global Business Summit 2019
Narendra Modi delivered keynotes at the Summit and said that it is a matter of enormous pride that India is the fourth largest contributor of the Industrial Revolution. He further said that what happened in the past is not in our hands, but what happens in the future is surely is.
He further blazoned that while India is preparing to send a man to Mars, it has ensured that everyone in India has a roof under his head. He mentioned that India is eradicating Poverty from India at the speed of light.
During the summit, he also insisted that the current government has policy of Zero Tolerance over the plundering of Public Money. He further stated that the government has been taking stringent actions against financial irregularities and will continue to do that.
Further, Narendra Modi asserted that during the regime of BJP government, 2014-2019, the average GDP of India has been 7.4 and the average inflation rate less than 4.5 which is the highest growth rate and the lowest Inflation rate in the stint of any Indian government.
Narendra Modi also mentioned that during the stint of BJP regime, ever since 2014, India has enhanced its global rankings on many forums whether its tourism index or world travel. He further proclaimed that India has improved in all macro-economic parameters, whether it is inflation, fiscal deficit, current account deficit, GDP growth or Foreign Direct Investment.
Arun Jaitley also addressed the Summit and gave some significant assertions. Arun Jaitley in the self-defense of the government over raising the liquidity with the RBI said that for BJP, the nation is first then the institutions.
Times Group Managing Director, Vineet Jain in the Summit asserted that the Global Business Summit has the potential to become the Devos of the east. He further uptick and said, that unlike the Davos there might be no snow in Delhi but the sun is sparkling and radiating brightly on the world’s fastest-growing economy even when dark clouds are accumulating elsewhere.
Sources: Economic Times
Image Sources: Daily Hunt, Economic Times