DAVOS, SWITZERLAND: The 55th Annual Meeting of the World Economic Forum (WEF) began on January 21, 2025, in the picturesque Swiss Alps with the theme “Collaboration for the Intelligent Age.” This prestigious event started with the presentation of the Crystal Awards to three global icons namely, football legend David Beckham, renowned fashion designer Diane von Furstenberg, and celebrated architect Riken Yamamoto, for their outstanding contributions to social progress, environmental advocacy, and creative innovation.

India was well-represented at the forum by Andhra Pradesh's State Minister for Education, IT, and Electronics, Nara Lokesh, alongside Union Minister Ram Mohan Naidu. Andhra Pradesh Chief Minister Chandrababu Naidu and State Industries Minister TG Bharat also joined the delegation to showcase the state's investment potential.

The event officially commenced around 8 PM Zurich time, followed by a networking dinner where the Andhra Pradesh delegation highlighted the state’s investor-friendly environment. They invited global business leaders to collaborate and explore development opportunities in the state.

During the summit, Minister Nara Lokesh engaged with global industrialist Lakshmi Mittal, Chairman of the Mittal Group, encouraging investment in transforming Bhavanapadu into a world-class petrochemical hub.

The Crystal Awards celebrated the remarkable efforts of the recipients in advancing community regeneration, promoting gender equality, advocating for children’s rights, and driving other impactful causes.

WEF President and CEO Børge Brende, in his welcome speech, emphasized the importance of addressing global challenges and seizing opportunities presented by geopolitical, economic, and technological shifts. He remarked that the gathering of 3,000 leaders from across public and private sectors aims to foster meaningful collaboration in this transformative era.

The Indian delegation, led by Union Minister Ashwini Vaishnaw, included high-profile figures such as Maharashtra Chief Minister Devendra Fadnavis and former Union Minister Smriti Irani. Vaishnaw highlighted the global interest in Prime Minister Narendra Modi's economic reforms, which are expected to be a focal point of discussions at the forum.

India's rapid digital transformation and innovative digital infrastructure have drawn significant attention from global leaders. Irani, as the Founder and Chairperson of the Alliance for Global Good, will spearhead discussions on equity, inclusion, and sustainability through her We-Lead Lounge initiative, engaging Fortune 500 executives on boardroom diversity and leadership mentoring.

Maharashtra CM Devendra Fadnavis and Andhra Pradesh CM Chandrababu Naidu are using the forum to attract foreign direct investment (FDI) by showcasing business opportunities in their respective states.

In a major development, Lakshmi Mittal announced plans to establish a Rs 1.4 lakh crore steel plant near Anakapalli with a production capacity of 17.8 million tons, phased over two stages. This project, approved by the government in November 2024, also includes renewable energy initiatives. Mittal outlined a partnership with Greenko to develop 975 MW of solar and wind energy capacity, ensuring 250 MW is supplied to the Anakapalli steel plant to cut annual carbon emissions by 1.5 million tons. Additionally, a 1 million-ton Green Ammonia project in Kakinada has been announced, furthering Andhra Pradesh's commitment to sustainable energy.