10 takeaways from Narendra Modi's keynote address at World Economic Forum

Prime Minister Narendra Modi delivered the keynote speech at the World Economic Forum at Davos today. Speaking to global CEOs, Modi urged the business community to do business with India.

PM Narendra Modi arrived in Davos on January 22 and met with the Swiss President Alain Berset. He also hosted a dinner with global CEOs. Apart from delivering the keynote address, PM Modi will also meet several foreign dignitaries at Davos.

Here are the major takeaways from PM Modi's keynote address at Davos:

  • Talking about technology and data in today's world, PM Modi said, "Technology-driven world is changing lives, data is now the biggest asset, the global flow of data is creating the biggest opportunities and challenges."
  • Addressing the problems faced by a technology-driven world, PM Modi said that "cyber security and nuclear security" are challenges faced by the world.
  • Talking about the need for world leaders and global businesses to work together PM Narendra Modi said that India has always believed in the theory of "Vasudev Kutumbakam" meaning "the world is one family". "There is a lack of consensus between all of us - it happens even in families - however, the essence of a family lies in the fact that there is solidarity when facing challenges together....Global unity is paramount in 21st century," PM Modi said.
  • Acknowledging the problem of climate change, PM Modi said that "climate change is a serious problem". He called upon the world community to address the problem of climate change. "(We) need to ask ourselves what can we do together to improve the situation, everyone talks about reducing carbon emissions but few back their words with resources to help developing countries," he said.
  • Stating that terrorism is the next biggest problem in the world, Modi said, "Terrorism is the second biggest challenge, you are all aware of India's concerns and the serious threats posed to mankind, all governments are aware of this challenge. A greater danger is the artificial distinction created between good terrorism and bad terrorism - another danger is that educated youth are being radicalised and getting involved in terrorism."
  • Talking about Modi government's economic reforms, PM Narendra Modi talked about GST. "A single tax regime GST has been implemented for the first time in India and business community from all over the world appreciated our resolve."
  • "Many societies & countries are becoming self-centered. It seems that gloabalisation, as opposed to its definition, is shrinking. Such misplaced preferences can't be considered any lesser threat than terrorism or climate change. We must admit shine of globalisation is fading," PM Modi said during his speech at WEF 2018.
  • Talking about the reforms brought in by the Modi government, the prime minister said, "We have abolished more than 1,400 unnecessary laws in the last three-and-half years...The talent of the people of India was engulfed into many challenges, our government has managed to do away with much of those issues so that the youth of the country can work to their best."
  • "India has always stood for peace and humanity, provided support to neighbouring countries whenever crises and challenges have come up in any form - as a first responder....India has always contributed toward global peace - we have never had political or geographical ambitions, we do not exploit the natural resources of any country."
  • Talking about Indian values, PM Modi urged the world community to work together for a better economic and social growth. "In India, we have always believed in unifying people, not dividing them...An ancient Indian prayer proclaims, All of us should work together- let us all together make this world free of unnecessary walls and cracks."