Page 3 - World Economic Forum

Energy crisis driving inflation, slowing GDP, creating social turmoil: WEF

The report has proposed 10 key actions to align immediate responses with long term goals and a framework to prioritise energy security for a just and sustainable energy transition

Cost of living crisis, digital inequality among risks for India: WEF

Global Risks Report lists cost of living crisis and climate change as biggest global risks

WEF Davos summit to call on world leaders to address economy, food crises

The World Economic Forum (WEF) on Tuesday said its annual Davos meeting will call on leaders from across the globe to address immediate economic, energy and food crises while laying the groundwork for a more sustainable and resilient world. Announcing the schedule for the five-day meeting in the Swiss ski resort town of Davos from January 16-20, the WEF said it is expecting significant participation from Asia, including China and Japan. From India, at least four union ministers -- Mansukh Mandaviya, Ashwini Vaishnaw, Smriti Irani and R K Singh -- as also three chief ministers -- Yogi Adityanath, Eknath Shinde and B S Bommai -- are expected to be present, in addition to nearly 100 leaders from business and other areas. The theme of the 53rd Annual Meeting would be 'Cooperation in a Fragmented World' and it will convene more than 2,700 leaders from 130 countries, including 52 heads of state/government. Top political leaders taking part include German Chancellor Olaf Scholz, European

Shortage of healthcare workers may rise to 10 mn by decade-end: WEF study

The shortage of healthcare workers globally could rise to 10 million by the end of the decade, affecting access to care, inequities and treatment of mental health, a new report said on Monday. Launched in the run-up to the World Economic Forum (WEF) Annual Meeting 2023 in the Swiss ski resort town of Davos, the report said the rise in healthcare spending has fast-tracked progress in telehealth, vaccines and precision medicine, but businesses and policy-makers must tackle worker burnout and boost access to health. It also cited a case study from India, the Ayushman Bharat Digital Mission (ABDM), launched by the Union Ministry of Family and Health Welfare, to enable the world's largest digital health landscape. "Given ABDM is envisioned to digitise the entire healthcare environment in the country, its success relies on its adoption by all players. "Thus far, the adoption of ABDM has been a key challenge, which has been limited and staggered mainly due to data interoperability, ...

Smriti Irani questions WEF's gender gap report which ranked India at 135

Union Women and Child Development Minister Smriti Irani on Tuesday questioned the World Economic Forum's Global Gender Gap Index assessment which ranked India at 135th place in terms of gender parity. Irani said the Index failed to take into account the political empowerment and financial inclusion of women at the grassroots level. The Union minister interacted via video link with the audience during a seminar organised at the Rashtriya Raksha University at Lavad in Gandhinagar district of Gujarat. She was asked questions related to the empowerment of women and gender equality. "It is time to challenge what the Global Gender Gap Index has done in the way India has challenged the Global Hunger Index. This measurement has been done through the western standards," Irani said. She said when it comes to marks of political empowerment, the Index does not take into account women who serve across panchayats and municipalities as district panchayat presidents, sarpanchs, mayors and ...

Yoginder K Alagh (1939-2022): An exceptionally generous economist departs

Born in pre-independence India, Alagh has left behind a rich legacy in the world of economic policymaking

Transition of India's entire 2/3-wheeler fleet to electric needs financing

The complete electrification of India's entire fleet of two and three-wheelers, the largest in the world, will require financing to the tune of USD 285 billion (nearly Rs 23 lakh crore), according to a new white paper. Published in collaboration with NITI Aayog, the World Economic Forum (WEF) paper said the last-mile and urban delivery fleets are leading the adoption of electric two-and three-wheelers in India and are likely the first segments to transition completely to electric. But driver-cum-owners are hesitant to make the transition to electric due to higher upfront cost of acquisition, lack of confidence in new technology, unassured reliability, and unestablished resale value, it added. Two-wheelers and three-wheelers account for over 80 per cent of vehicle sales in India and the adoption of electric vehicles has been steadily rising in the past few years. There are about 45 certified vehicle manufacturers of electric two-and three-wheelers in India in an otherwise consolidat

WEF looking at solutions from India to help accelerate decarbonisation

The World Economic Forum (WEF) is looking at solutions from India to help accelerate decarbonisation worldwide as the focus is to try and bring the best practices from wherever they are to everyone else, according to a senior executive. "What India has done with the acceleration of renewables, deployment of new renewables is quite outstanding. If I am not mistaken, the numbers are saying that your demand has grown but you have decoupled the demand for energy from the demand for coal. That is a very important element," WEF's Roberto Bocca told PTI here. Bocca is a Member of the WEF's Executive Committee and the Head of Shaping the Future of Energy and Materials. Regarding India, the forum is working on the demand side as well as on cities, transportation and industrial demand. "This transition will not happen just because (of the shift) from fossil fuels to renewables, it will also happen out of efficiency," he noted. When asked whether the forum is looking at solutions from India t

Women bosses fare worst in accumulated savings: Gender Wealth Equity report

Gender wealth equity varies the most in the Asia-Pacific regions and the least in North America, finds the WTW Global Gender Wealth Equity report

Growth of core sector output recovers to 3-month high in September

The Reserve Bank of India last month also revised its growth forecast for FY23 to 7 per cent from 7.2 per cent estimated earlier

India facilities of Cipla, Dr Reddy's Labs, join Global Lighthouse Network

The World Economic Forum on Tuesday announced the addition of 11 factories and industrial sites, including three from India, to its Global Lighthouse Network. From India, the additions are pharma major Cipla's Indore facility, Dr Reddy's Laboratories' Hyderabad facility and the Mondelez facility in Sri City. The Global Lighthouse Network is a community of over 100 manufacturers that are showing leadership in applying Fourth Industrial Revolution technologies such as artificial intelligence, 3D-printing and big data analytics. The WEF further said four lighthouse members with outstanding environmental footprint reductions have been given an additional designation of Sustainability Lighthouses. These four include Unilever's Dapada facility in India. The WEF said that amid warnings of a global recession, energy price hikes and disrupted supply chains, the lighthouse factories offer business leaders and policymakers examples of how the manufacturing sector can stay competitive and ...

85% of Indian schools yet to implement vocational courses: WEF report

Titled Education 4.0 Report', the report explains how technology can address learning gaps and make education accessible to all

Chief economists' survey says global recession increasingly likely

A global recession is becoming increasingly likely due to stubbornly high inflation and real wages continuing to fall, the World Economic Forum said on Wednesday citing a survey of chief economists from across the world. According to the WEF Chief Economists Outlook report, real wages are expected to continue falling across the world in 2022-2023 and the cost of living crisis is threatening social unrest, though inflationary pressures are expected to ease in the next year. The survey showed that food security could be at risk across large swathes of the globe over the next three years. Referring to rising concerns about food security triggering export restrictions, which risk exacerbating global supply disruptions, the report said India, the world's largest rice exporter, introduced a ban on exports of broken rice and a 20 per cent export duty on other grades of rice. "Given that the stability of rice prices in 2022 was instrumental in preventing a fully-fledged global food crisis,

Diabetes burden: India lost 45 years of healthy life per person in 2021

By 2040, Type 1 diabetes cases to increase by 116% in India, says Lancet study

Afghanistan worst among 146 countries surveyed for gender equality: WEF

In the Global Gender Gap Index which was released by WEF on Wednesday, Afghanistan is placed in the last spot in a survey of 146 countries

India ranks low at 135th globally for gender parity, says WEF report

Iceland retained its place as the world's most gender-equal country, followed by Finland, Norway, New Zealand and Sweden, as per the annual Gender Gap Report 2022

Gender Gap Index 2022: India slips on income measures, shows data

The country performed better on education and health parameters. Political representation has been a mixed bag

Top Headlines: LIC's embedded value remains flat, FTP amendments, and more

LIC's Indian embedded value (IEV) grew marginally to Rs 5.41 trillion as of March 2022 compared with Rs 5.39 trillion as of September 2021

We ensure that crypto transactions are in the KYC framework: CoinSwitch CEO

Crypto will pave the way for Web 3.0, a new internet that is open and shared, says CoinSwitch CEO Ashish Singhal

Bengaluru: Karnataka CM Bommai inaugurates largest IKEA store in India

With a planned investment of Rs 3,000 crore in Karnataka, IKEA is expecting to attract close to five million visitors this year in Bengaluru, the company had said on Tuesday.