Narendra Modi to lay out vision for a globalised world at Davos
India’s prime minister will present his globalist leadership credentials to a high-powered audience when the World Economic Forum in Davos kicks off today.
Last year, Chinese President Xi Jinping laid out a vigorous defence of free trade as Beijing sought to claim global leadership from an increasingly inward-looking US.
Today’s speech is a chance for New Delhi to challenge this vision; Beijing largely spurns the Bretton Woods establishments in favour of Chinese-led institutions, such as the Asian Infrastructure and Investment Bank.
Mr Modi is expected to push for further economic liberalisation, both at home and abroad. His hope is to spur Indian economic growth. In 2015, the subcontinent achieved a 7% growth rate—the first time the subcontinent eclipsed China’s economy in decades. To do this, India’s leader has championed a range of initiatives, including a “Make in India” campaign and the cutting of red tape to improve the investment climate.
Expect Modi to talk up India’s economic prospects in a grandiose keynote speech today. But whether New Delhi can deliver on its commercial potential remains to be seen.
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