Chief Minister K Chandrashekhar Rao had a meeting with Professor Klaus Schwab, the Executive Chairman of World Economic Forum (WEF) this morning at the Annual Meeting of the New Champions at Dalian in China, the foremost global business gathering in Asia, which is known as the “Summer Davos.”
Professor Schwab is the Founder and Chairman of the World Economic Forum, an independent, not-for-profit committed to improving the state of the world.
They both had discussions for about 30 minutes. Among others, the Chief Minister had requested Klaus Schwab to host WEF annual conference in Hyderabad for which there was a positive response from him. CM briefed him on various economic and social aspects of Telangana state, including significance of Hyderabad City in India. In addition to CM, among others who met Professor Schwab this morning, include Prime Minister of Mongolia, IT minister of China and Deputy Prime Minister of Russia.
The Chief Minister and Schwab exchanged ideas about promoting economic development. CM explained the Single Window Industrial Policy of Telangana, the best of its kind in the world and how the new policy has brought in approximately Rs. 12,000 Crore investments from 52 industrial companies in less than 3 months. He explained the innovative feature that gives investors the right to obtain timely clearance and puts the onus on government officials to clear large projects in less than 15 days.
Schwab praised Telangana as a state renowned for social and economic innovations. He said, “I enjoyed meeting the Chief Minister of a state renowned for social and economic innovations in India. We look forward to his participation at our Annual Meeting of New Champions in China.” Responding to Schwab CM said that “It was wonderful to meet Klaus Schwab and learn about the tremendous impact that the World Economic Forum has had. I am impressed by him and his team.”
Since its inception in 1971, the World Economic Forum has become the world’s foremost multi stakeholder organization and has been a driver for reconciliation efforts in different parts of the world, as well as the catalyst of numerous public-private partnerships and international initiatives.
The activities of the World Economic Forum comprise of exclusive meetings that create a unique opportunity for exchange of ideas between leaders from top-ranked multinationals and chief executive officers of dynamic and fast-growing companies, including key decision-makers from government, media, academia and civil society. The Annual Meeting of the New Champions brings together more than 1,500 participants from 90 countries to share strategies and solutions and discuss global issues and risks.
The Chief Minister also met Hilde Schwab, the Chairperson of the Schwab Foundation for Social Entrepreneurship. The Foundation was founded in 1998 to promote entrepreneurial solutions and social commitment with a clear impact at the grassroots level. Each year, the Foundation selects a Social Entrepreneur of the Year in India. CM thanked Schwab for her work in promoting social enterprise and he noted that three of the Indian social entrepreneurs of the year were from Telangana and that Hyderabad had become a social enterprise with a variety of organizations and a host of social impact funds.
During this morning session on urban development challenges, Chief Minister has lucidly explained his vision on Hyderabad development. He shared his ideas and experiences with Mayors and vice mayors of very important Chinese cities like Guangzhou, Yuwi etc. CM has requested to help Telangana in sharing their experience and expertise on city developments. (INN)