Davos World Economic Forum 2018 LIVE Updates: Let Us Create A "Heaven Of Freedom' Sans Divisions, Says PM Modi

Maharashtra Chief Minister Devendra Fadnavis applauded Prime Minister Narendra Modi's speech calling it "a speech of a statesman and a global leader". He further talked about the three crucial points which PM Modi made concerning the world - global warming, terrorism and protectionism. "On all these points, he could highlight what India is doing and what India has done and what India aspires to do. Most other leaders are going the other way and here is one leader who says I believe in globalisation," Mr Fadnavis told NDTV. 

Following his speech at the World Economic Forum at Davos, Prime Minister Narendra Modi met his Canadian counterpart Justin Trudeau. The Canadian Prime Minister is scheduled to visit India on February 17 and is to stay in the country till February 23rd during which he will be visiting New Delhi, Mumbai, Agra, Amritsar among other places. Mr Trudeau's will be visiting the country on PM Modi's invitation. Cooperation in security and counter-terrorism will form important components of the visit.

The world's economic and security organisations need reforms, and the world's economic progress must be faster. India has always cooperated with the world to tackle challenges. India has been the largest contributor in the UN peacekeeping force in terms of troops. India has always been the first responder to crises in neighbouring and friendly nations. A predictable, stable, transparent and progressive India will continue to be the good news in an uncertain world.

India will always be a unifying and harmonising force. Rabindranath Tagore had written of a heaven of freedom where the world is not divided by narrow walls. Lets make that a reality.

I invite you all to come to India - If you want wellness with wealth, come to India; If you want wholeness with health, come to India; If you want peace with prosperity, come to India. Remember, that you will always be welcome in India.

The third challenge is increased self-centredness around the world. Globalisation around the world is shrinking. Every one talks of an inter-connected world but the shine of globalisation is reducing. We must see if the global organisations created after World War II reflects the new dynamics of the world today. Some world powers don't just want shun globalisation but they want to stall it. An example of this are new tariff barriers.

Mahatma Gandhi had said I dont want the walls and windows of my world be closed from all sides. I want the air of the world to come in freely but it shouldn't uproot my home. India follows this philosophy. We Indians understand the value of diversity. We understand the importance of freedom and democracy.

In 2014, India's 600 crore voters, for the first time gave a complete majority to one party, and we have always strived for 'Sabka Saath, Sabka Vikas'. And this forms the bedrock of all policies of my government. Be it opening bank accounts for all Indians to ensure financial inclusion, or digital inclusion, or gender justice. Progress is only real when it helps everyone and everyone joins us in the journey.

Our path to progress is reform, perform and transform. This is why investing in India, travelling to India, manufacturing in India has become much easier than before. We have pledged to end license raj, we are removing red tape and laying out the red carpet. New doors for Foreign Direct Investment (FDI) are being opened. 1400 laws that were hurdles to progress have been scrapped. GST has been implemented, technology is being used to increase transparency. Democracy, demography and dynamism are shaping our destiny today.

In 3.5 years, India has seen massive changes that accept the aspirations of 1.25 billion Indians. Innovation and entrepreneurship is making young Indians job givers, not job seekers. For a shared prosperity, we have to work together, shedding our differences.

The other big challenge is terrorism. You all are familiar with the impact of terrorism. All I want to draw your attention to, is that just as dangerous as terrorism is, even more so is the false distinction made between good terrorists and bad terrorists. Another very dangerous thing is the trend of educated young people from prosperous families joining terrorism.

Friends, the challenges that I am alluding to are many and widespread, but given the limited time that we have, I'll mention three of the biggest ones.

The first one: Climate change

Glaciers are receding, the Arctic ice is melting, islands are going under water or are about to. Heat and cold, excessive rain and drought - effects of extreme weather are seen everywhere. Even here, we are seeing the highest snowfall in 20 years.

We should have shed our divisions and united to tackle the challenge, but we must ask honestly if we have done so. Everyone says climate emissions must be reduced, But how many developed countries reach out to developing nations with the technology required to do so?

Thousands of years ago, our sacred texts, read that we humans are the children of mother Earth. But then why do we see a war between humans and environment?

Father of the nation Mahatma Gandhi always endorsed utilisation based on need, and opposed greed. But we have wandered far from that thought and exploited nature. We must ask ourselves, is this development or is this deterioration?

We are tied together as one family, a shared thread binds us. This philosophy is relevant to tackle the divides and distances of our times. But it is true that we face a lack of consensus in ways to overcome them. There are differences even within families, but when there are challenges, we must all come together to face them.

In this environment there are many important questions that demand an answer for the future of humanity. Is our progress deepening our rifts? We have to overcome obstacles and distances for a bright future. In India, we have always believed in unifying people, not dividing them. Indian philosophers have said for thousands of years that the world is one family.

On one hand science, technology and economic progress can lead mankind to progress, but on the other hand, it can cause painful wounds. Many of the changes are creating walls that are making the path to peace a difficult one.

A technology-driven world has affected all aspects of our society. Social media is a big example of how technology is being used to join, bend and break our world. There is a race after data because it is said, that the one who controls data will dominate the world.

There are fast moving economical and political changes in the world. Peace, stability, security face new and serious challenges.

The subject of Davos meet this time is 'Creating A Shared Future In A Fractured World'

Even at that time Davos was ahead of its time, as it is today.

In 1997 India's GDP was little over $400 billion. Now it has grown more than six times. In 1997, the Euro wasn't in circulation, Brexit hadn't happened, the world hadn't heard of Osama bin laden or Harry Potter. It was a time when chess players weren't at risk of losing to computers, Google wasn't there and if you searched for Amazon, you would find information about jungles and rivers. It was a time when only birds tweeted. Today, two decades later, the world and society are complex networks.

I thank the government and citizens of Switzerland for the warm welcome. The last time an Indian PM came to Davos was in 1997 when Deve Gowda came here.

Namaskar, I am delighted to be here in Davos for the 48th meeting of the World Economic Forum

Prime Minister Narendra Modi begins his speech at the World Economic Forum in Davos, Switzerland.

Prime Minister Narendra Modi will deliver his keynote speech at 3:45 pm IST and has said he "looks forward to sharing my vision for India's future engagement with the international community".

PM Modi said in Davos that he was "moving from ease of doing business to ease of living", his new focus would be "less conflict with government"; the move was welcomed by the CEOs unanimously. The prime minister will also interact with CEOs of Indian companies separately.

The Prime Minister's meeting with over 40 global industry bosses from 18 countries, including Microsoft's Satya Nadella, Reliance's Mukesh Ambani, Airbus CEO Dirk Hoke, lasted for nearly two hours in which he invited everyone to speak and sought suggestions. He responded to each query, addressing each CEO personally, said those who attended. Together, the industry titans represent companies that have a cumulative market cap of $3.3 trillion.

PM Modi, who landed in Switzerland last evening for a packed 24-hour visit, narrated India's growth story and presented investment opportunities at a roundtable dinner meeting with global CEOs. PM Modi is the first Indian prime minister to attend the Davos summit in over 20 years.

Prime Minister Narendra Modi will speak about the New India that is emerging, and about the Indian economy moving from "strength to strength, and the fact that India is being recognised across the world as a superpower, as a great place to do business, and about our plans for the next few years," said union minister Piyush Goyal, who is also in Davos.

The theme for this years meeting, spread over 400 sessions, is 'Creating a Shared Future in a Fractured World'. Yesterday, Prime Minister Narendra Modi hosted a roundtable meeting with CEOs from across the world in Davos, kicking off India's broadest engagement ever at the World Economic Forum in the snow-covered mountain resort of Switzerland. The Prime Minister narrated "India's growth story and presenting exciting opportunities for global business in India".

Yesterday, India hosted a welcome reception for the global elite who have come to Davos to attend the annual World Economic Forum meet. During the announcement of the official programme, the WEF said that this years summit will see the largest-ever engagement of global leaders. India too has come to Davos with its largest-ever delegation. International security, environment, and global economy will be the focus areas of discussions.

The top annual global business meet will be attended by 70 head of states. 38 heads of major international organisations such as the WTO, the IMF and the World Bank, and nearly 2,000 CEOs including over 100 from India will be present at the summit.