India’s position on the global value chain is shifting due to government incentives and a digitally savvy economy
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DAVOS, Switzerland — Along the Davos Promenade, attendees of the World Economic Forum stumble across the WeLead Lounge, a repurposed storefront showcasing India’s female leadership and talent. There’s also the India Engagement Center, a space promoting India’s growth story, digital infrastructure, and its burgeoning startup ecosystem.
Elsewhere at the forum, Indian technology and consulting giants Wipro, Infosys, Tata and HCLTech are out in full force to showcase the country’s prowess in key technologies like artificial intelligence, the subject that’s on everyone’s lips.
The hefty Davos promotions come after India surpassed China last year as the world’s biggest country by population. Now India is touting its growing strength as a nation of innovation and as a global business hub in front of some of the world’s richest and most powerful people.
“India’s presence is certainly sizable — it has some of the most sought-after spots on the main promenade for tech companies,” Ravi Agrawal, editor-in-chief of Foreign Policy and former CNN India bureau chief, told CNBC at Davos. “As China’s economy slows down, India’s relatively rapid growth stands out as a clear opportunity for investors in Davos looking for bright spots.”
China’s gross domestic product increased 5.2% last year, up from 3% in 2022 but down from 8.1% the year prior. India grew 7.2% in the last fiscal year, down from just over 9% a year earlier.
India has been increasingly looking to promote itself as a more dominant figure on the world stage when it comes to technology and business. States such as Maharashtra, Tamil Nadu, Telangana, and Karnataka have their own presence at Davos, positioning themselves as tech hubs for manufacturing and AI.
“In that sense, the separate state pavilions send a message — that various regions in India are competing with each other to offer global…
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