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Context

• India has announced an alliance for Global Good-Gender Equity and Equality, reiterating its commitment to women-led development.

World Economic Forum Participation 2024:

• India actively participated in WEF's annual meeting at Davos from January 15-19, 2024.
• Aligned with the theme 'Rebuilding Trust,' emphasizing global cooperation.

Indian Delegation:

• Led by Smt. Smriti Zubin Irani, Union Minister of Women & Child Development and Minority Affairs.
• Other key members included Shri Hardeep Singh Puri, Shri Ashwini Vaishnaw, Shri RK Singh, and senior government officials.

Launch of "Global Good Alliance for Gender Equity and Equality":

• Key takeaway: Announcement of a global initiative supporting gender equity and equality.
• Inspired by G20 Leaders’ Declaration and India’s commitment to women-led development.

Objective of the Alliance:

• Bring together global best practices, knowledge sharing, and investments in women’s health, education, and enterprise.

Alliance Structure:

• Housed and anchored by the CII Centre for Women Leadership.
• Bill and Melinda Gates Foundation, WEF, and Invest India serve as partners.

India's Commitment and Smt. Smriti Zubin Irani’s Statements:

• India's commitment to "Vasudhaiva Kutumbakam" and "Sabka Saath, Sabka Vikas, and Sabka Prayas."
• Irani emphasized the grand alliance's ability to bring together industry, enterprise, and humanity.

We Lead Lounge Initiative:

• First-ever "We Lead Lounge" by CII and BMGF at WEF.
• Focus on women-led development, digital gender gap, women’s health, and economic participation.

Sessions and Bilateral Meetings:

• Smriti Zubin Irani participated in eight WEF sessions.
• Topics included restoring faith in global systems, BRICS expansion, India's strategic dialogue, and seizing India's moment.
• Bilateral meetings held with leaders from Bahrain, the Netherlands, and Austria, discussing common interests and collaborations.

ALL ABOUT WORLD ECONOMIC FORUM: https://www.iasgyan.in/daily-current-affairs/world-economic-forum-wef-36

PRACTICE QUESTION Q: Consider the following statements regarding the World Economic Forum (WEF): 1.The WEF, originally named the European Management Forum, was established in 1971 by Professor Klaus Schwab. 2.The WEF's annual meeting in Davos attracts leaders from politics, business, academia, and civil society. 3.The organization advocates for shareholder capitalism, emphasizing the consideration of all stakeholders. 4.Global Agenda Councils, covering specific issues, are a current feature of the WEF's organizational structure. Which of the statements above is/are correct? A)   1 and 2 only B)    2 and 3 only C)    1, 2, and 4 only D)   3 and 4 only Answer: A. 1 and 2 only Explanation: True: The WEF, originally named the European Management Forum, was indeed established in 1971 by Professor Klaus Schwab. True: The WEF is most famous for its annual meeting in Davos, Switzerland, which attracts global leaders from various sectors, including politics, business, academia, and civil society. False: The WEF advocates for stakeholder capitalism, not shareholder capitalism. It emphasizes the consideration of all stakeholders, not just shareholders. False: Global Agenda Councils, covering specific issues, were discontinued in 2016.