Davos: Bright colors and bold logos proudly indicate that India has set base on the main road in Davos this year, as the country advances its pro-business and foreign investment campaign.
Inside a pavilion on the Swiss Alpine Resort’s Promenade Street under the “India @ Davos 2022” logo, the government served treats including ‘masala chai’ tea, ‘samosa’ snacks and other spicy delicacies.
Surrounded by this are six Indian states with their own lounges, usually located in high street shops.
“This is an Indian road, it should be called ‘Chhota India’. It shows that the country is open to investment,” said Sameer Saran of the Observer Research Foundation.
Commerce and Industry Minister Piyush Goyal told Reuters Prime Minister Narendra Modi had suggested bringing states together to show unity at a gathering of business and political leaders at the World Economic Forum.
“Investors love this kind of messaging,” Goyal said.
While India has a long-standing presence at the World Economic Forum, many officials and attendees from Asia’s third-largest economy said it was not so prominent before.
On a government basis, the meal was being prepared with 450 kg of vegetables and local spices by a team of 15 cooks brought in from India, head chef Guru Nathan told Reuters, as people enjoyed the morning’s fragrant buffet.
“We were told to keep the spice moderate so that everyone can enjoy[the meal],” Nathan said.
Just a few steps down the road, tech giants Infosys, Wipro and HCL Technologies have established their bases closer to Alphabet’s Google, Meta and Intel.
A state government official put the number of Indian officials attending Davos at over 100, including several company executives and a handful of startups. Goyal estimated that there would be 200 Indian participants in total.
“We have record numbers from India,” said Sriram Gutta, who heads India’s agenda at the WEF.
‘new reality’
The ministers talked about India’s economic boom and the opportunities it offers in Davos.
Although the government has often faced criticism for announcing policies of foreign companies that it says are protectionist in nature and favor domestic companies, India recently reported its highest foreign direct investment inflows. granted, reaching $83.57 billion in 2021-22.
After regularly engaging with states on topics such as agricultural technology, drones and electric vehicles, the WEF has gradually increased the number of invitations to them, with Gutta saying they “will continue to gain prominence”.
Deepak Bagla, CEO of federal investment promotion arm Invest India, told Reuters that even though they are run by different political parties, the states were seeking to project a united image and show their respective offerings to businesses.
Andhra Pradesh signed an investment agreement totaling $16 billion to invest in renewable energy in Davos, while Karnataka has held meetings with potential investors, an official said.
“This street really shows you the new reality of India,” Bagla said.
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