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Inclusive growth in focus at WEF's India summit

PTI 04 Nov 2014, 12:05:52 PM IST

New Delhi: Policy makers, including finance minister Arun Jaitley, and industry leaders will deliberate on issues of growth and competitiveness at the World Economic Forum's (WEF) India summit that begins on Tuesday.

Under the theme Redefining Public-Private Cooperation for a New Beginning, the summit convenes against the backdrop of significant economic growth and progress in reducing poverty in most parts of India, but also persistent inequality.

The programme is built on three pillars: Boosting Global Competitiveness, Launching a Domestic Systems Reset and Scaling Local and Social Innovation.

"The meeting comes as the new government completes six months in office. Business leaders are keen to engage with the government and see how it plans to restart the investment cycle, revive demand and convert the first signs of revival into a full-fledged recovery," CII director general Chandrajit Banerjee said on the sidelines of a conference.

More than 700 leaders from business, government, civil society and academia from 45 countries will take part in the three-day India Economic Summit, organised by WEF in partnership with industry body Confederation of Indian Industry (CII).

Minister of road transport, highways and shipping Nitin Gadkari, minister for human resource development Smriti Irani, minister of telecom and law Ravi Shankar Prasad and minister of state for power, coal, new and renewable energy Piyush Goyal are among those expected to participate in the summit.

The summit will see Jaitley, who also holds the portfolio of defence, share his vision of the nation's rising global influence and achieving equitable growth for its population.

Besides, it will also deliberate on how the challenges and opportunities are shaping India's growth outlook amid the rising investor interest.

The summit also entails a session on Investing in a Cleaner India, in line with Prime Minister Narendra Modi's Swachh Bharat campaign. It includes a session with Gadkari on analysing the initiatives needed to bridge the $1 trillion infrastructure deficit in the country.

The HRD minister will participate in a session focusing on skills development and the solutions needed to bridge the skills mismatch to make India's youth more employable.