Narendra Modi is on a mission to attract more foreign investment into the country as he heads to Davos on Monday, becoming the first Indian prime minister to attend the World Economic Forum in the Swiss ski resort in more than twenty years.
The key message that Mr Modi wants to deliver in Davos is that India is ripe for and open to more global investment.
“Our economy has expanded significantly since the last time an Indian prime minister went to Davos and therefore this visit is very important,” said Vijay Gokhale, the ministry of external affairs secretary, told reporters at a conference in New Delhi, according to a transcript of the conference published online. “We want to tell the world to invest in India.”
This comes as India's economy has slowed, weighed down by the impact of demonetisation and the effects of the introduction of a new goods and services tax, or GST. The economy grew at 6.3 per cent in the July to September quarter compared with 7.5 per cent in the same quarter a year earlier.
The Indian government is keen to boost economic growth, with general elections coming up next year, and a need to create more jobs for the country's young population. Attracting foreign investment is seen as a way of helping to achieve higher levels of economic growth.
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To try to bring more funds from overseas into the country, Mr Modi's government this month liberalised foreign direct investment (FDI) regulations for a number of sectors including single brand retail and construction. It also announced that foreign airlines would be able to take a stake of up to 49 per cent in Air India.
India attracted more than US$60 billion of FDI in the financial year to the end of March 2017, which was a record amount for the country, according to official figures.
Mr Modi is due to give a keynote address at Davos and will engage in a bilateral meeting with Swiss president Alain Berset, and the Indian prime minister will also host a roundtable dinner for heads of top global firms and Indian companies during his trip.
Mr Modi's message would be about India being an economy that could be “an engine of global growth”, according to Mr Gokhale.
Company%20Profile
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TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
Kathryn Hawkes of House of Hawkes on being a good guest (because we’ve all had bad ones)
- Arrive with a thank you gift, or make sure you have one for your host by the time you leave.
- Offer to buy groceries, cook them a meal or take your hosts out for dinner.
- Help out around the house.
- Entertain yourself so that your hosts don’t feel that they constantly need to.
- Leave no trace of your stay – if you’ve borrowed a book, return it to where you found it.
- Offer to strip the bed before you go.
Petrarch: Everywhere a Wanderer
Christopher Celenza,
Reaktion Books
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
How does ToTok work?
The calling app is available to download on Google Play and Apple App Store
To successfully install ToTok, users are asked to enter their phone number and then create a nickname.
The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.
Users can also invite other contacts to download ToTok to allow them to make contact through the app.
COMPANY%20PROFILE
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Company%20profile
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COMPANY%20PROFILE%20
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Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
FIXTURES
Monday, January 28
Iran v Japan, Hazza bin Zayed Stadium (6pm)
Tuesday, January 29
UAEv Qatar, Mohamed Bin Zayed Stadium (6pm)
Friday, February 1
Final, Zayed Sports City Stadium (6pm)
'Ghostbusters: From Beyond'
Director: Jason Reitman
Starring: Paul Rudd, Carrie Coon, Finn Wolfhard, Mckenna Grace
Rating: 2/5
COMPANY%20PROFILE
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Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
The specs
Engine: Two permanent-magnet synchronous AC motors
Transmission: two-speed
Power: 671hp
Torque: 849Nm
Range: 456km
Price: from Dh437,900
On sale: now
UAE currency: the story behind the money in your pockets
What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
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Winner Bella Fever, Dane O’Neill (jockey), Mike de Kock (trainer).
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Winner Woven, Harry Bentley, David Simcock.
7.40pm UAE 2000 Guineas Group Three $250,000 (Dirt) 1,600m
Winner Fore Left, William Buick, Doug O’Neill.
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Winner Rusumaat, Dane O’Neill, Musabah Al Muhairi.
8.50pm Al Maktoum Challenge Round-2 Group Two $450,000 (D) 1,900m
Winner Benbatl, Christophe Soumillon, Saeed bin Suroor.
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Winner Art Du Val, William Buick, Charlie Appleby.
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Winner Beyond Reason, William Buick, Charlie Appleby.
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Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
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BORDERLANDS
Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
Sui Dhaaga: Made in India
Director: Sharat Katariya
Starring: Varun Dhawan, Anushka Sharma, Raghubir Yadav
3.5/5
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
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