NEWS – World Economic Forum annual meet held in Davos

WORLD ECONOMIC FORUM (WEF)

• Swiss nonprofit foundation established in 1971 by Klaus Schwab, a German economist
• Headquartered in Geneva, Switzerland
• Known for its annual meetings in Davos (Swiss Alps)
• Mission is to improve the state of the world by bringing together leaders from various sectors to collaborate on global challenges
• One of the WEF’s flagship publications is the Global Competitiveness Report, which assesses the competitiveness of countries

NOTE

• Karnataka has inked agreements for potential investments worth Rs 22,000 crore at Davos
• Biggest deal is with Mumbai-based Web Werks that wants to set up a data centre park worth Rs 20,000 crore in Bengaluru
• Lulu Group is set to venture into food processing at Vijayapura with plans to invest Rs 300 crore in a plant dedicated to exports
• The Karnataka delegation also held talks with Volvo, Nestle, Sony, Inox, HP, Honeywell, Takeda Pharma, Coinbase, BL Agro, Tillman Global among others