It was an unforgettable experience to be part of the INDIA Future of Change team during the World Economic Forum in Davos, Switzerland. As the winner of the campus interaction contest in the University of Hamburg, I had the opportunity to attend two panel discussions at the Kirchner Museum Davos. During these events, I had the unique opportunity to connect with high profile business leaders, politicians and academia who all share a common interest: the future of India’s growth.
The first meeting was moderated by Martin Wolf, associate editor of Financial Times, and discussed which steps the Indian government and business should take to grow faster than China. The group of panelists consisted of a well-composed mix of renowned academia, business leaders and politicians from India and the United States. The panelists agreed on the fact that China should not be used as benchmark for economic growth, since the countries face a different phase of growth and deal with different natural constraints. It was remarkable to see that the majority was very positive about the growth possibilities of India, in particular when urban infrastructure and governance will be improved. However, Professor Rajan of the University of Chicago warned for the risks of growing too fast, by pointing on the rising macro economic issues in India such as inflation and an increasing current account deficit.
The second panel discussion was all about design, innovation and entrepreneurship as key drivers for India’s inclusive growth. Moderator Tim Brown, CEO of IDEO, a leading design and innovation consultancy, managed to create a lively discussion between the multidisciplinary panelists and the audience. Although there exist several entrepreneurial success stories – such as Infosys Technologies that became a multi billion enterprise within a decade – most panelists agreed that Indian entrepreneurs do not get full return out of their capacities. The problem does not lie in the capacity of the entrepreneurs themselves, but in the entire ecosystem for new businesses to thrive. Mr. Shibulal, co-founder and COO of Infosys Technologies, mentioned that India has so far mainly focused on execution, and now is ready for the next step: innovation. Based on the reactions from the audience this process has been started already, as several remarkable innovative Indian consumer goods from the hightech engineering sector were discussed.
Besides these intriguing panel discussions we also had time to walk around Davos and enjoy the beautiful mountain scenery. During my stay, Davos turned out to be a happening city with various parallel involvements related to the World Economic Forum. At night, several themed private parties were organized – I was introduced to the Bollywood parties, which was a fantastic experience. In all, I am very grateful to the INDIA Future of Change team that they made it possible for me to experience all the above. The whole Davos experience was an exciting mix of inspiring talks, interesting encounters, lively discussions, and last but not least – a lot of fun!
Ernst Salet is an Erasmus Mundus scholar, currently studying in Bologna, Italy. He won the INDIA Future of Change Quiz Contest held at the University of Hamburg in Germany, the prize for which was attendance at the INDIA Future of Change panels in Davos.
The first meeting was moderated by Martin Wolf, associate editor of Financial Times, and discussed which steps the Indian government and business should take to grow faster than China. The group of panelists consisted of a well-composed mix of renowned academia, business leaders and politicians from India and the United States. The panelists agreed on the fact that China should not be used as benchmark for economic growth, since the countries face a different phase of growth and deal with different natural constraints. It was remarkable to see that the majority was very positive about the growth possibilities of India, in particular when urban infrastructure and governance will be improved. However, Professor Rajan of the University of Chicago warned for the risks of growing too fast, by pointing on the rising macro economic issues in India such as inflation and an increasing current account deficit.
The second panel discussion was all about design, innovation and entrepreneurship as key drivers for India’s inclusive growth. Moderator Tim Brown, CEO of IDEO, a leading design and innovation consultancy, managed to create a lively discussion between the multidisciplinary panelists and the audience. Although there exist several entrepreneurial success stories – such as Infosys Technologies that became a multi billion enterprise within a decade – most panelists agreed that Indian entrepreneurs do not get full return out of their capacities. The problem does not lie in the capacity of the entrepreneurs themselves, but in the entire ecosystem for new businesses to thrive. Mr. Shibulal, co-founder and COO of Infosys Technologies, mentioned that India has so far mainly focused on execution, and now is ready for the next step: innovation. Based on the reactions from the audience this process has been started already, as several remarkable innovative Indian consumer goods from the hightech engineering sector were discussed.
Besides these intriguing panel discussions we also had time to walk around Davos and enjoy the beautiful mountain scenery. During my stay, Davos turned out to be a happening city with various parallel involvements related to the World Economic Forum. At night, several themed private parties were organized – I was introduced to the Bollywood parties, which was a fantastic experience. In all, I am very grateful to the INDIA Future of Change team that they made it possible for me to experience all the above. The whole Davos experience was an exciting mix of inspiring talks, interesting encounters, lively discussions, and last but not least – a lot of fun!
Ernst Salet is an Erasmus Mundus scholar, currently studying in Bologna, Italy. He won the INDIA Future of Change Quiz Contest held at the University of Hamburg in Germany, the prize for which was attendance at the INDIA Future of Change panels in Davos.
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