KCR wants WEF meet in Hyderabad

Holds talks with World Economic Forum chief

Hyderabad: Telangana Chief Minister K Chandrashekar Rao on Wednesday urged World Economic Forum Executive Chairman Klaus Schwab to hold the next WEF annual conference in Hyderabad. Schwab has responded "positively" to the proposal.

The Chief Minister, who met Schwab at the Annual Meeting of the New Champions at Dalian in China, the foremost global business gathering in Asia, known as the “Summer Davos,” had an elaborate discussion on the economic scenario in the state. He briefed Schwab on various economic and social aspects of Telangana, including the significance of Hyderabad.

KCR and Schwab exchanged ideas about promoting economic development. He explained the Single Window Industrial Policy of Telangana, the best of its kind in the world and how the new policy has brought in approximately Rs 12,000 crore investments from 52 industrial companies in less than three months.

He explained the innovative feature that gives investors the right to obtain timely clearances even for big projects in less than 15 days. Schwab praised Telangana as a state renowned for social and economic innovations.

He said, “I enjoyed meeting the Chief Minister of a state renowned for social and economic innovations in India. We look forward to his participation at our Annual Meeting of New Champions in China.”

Responding to Schwab KCR said: “It was wonderful to meet Klaus Schwab and learn about the tremendous impact that the World Economic Forum has had. I am impressed by him and his team.”

Since its inception in 1971, the World Economic Forum has become the world’s foremost multi-stakeholder organisation and has been a driver for reconciliation efforts in different parts of the world, as well as the catalyst of numerous public-private partnerships and international initiatives.

The activities of the World Economic Forum comprise of exclusive meetings that create a unique opportunity for exchange of ideas between leaders from top-ranked multinationals and chief executive officers of dynamic and fast-growing companies, including key decision-makers from government, media, academia and civil society.

The Annual Meeting of the New Champions brings together more than 1,500 participants from 90 countries to share strategies and solutions and discuss global issues and risks.

The Chief Minister also met Hilde Schwab, the Chairperson of the Schwab Foundation for Social Entrepreneurship. He thanked Schwab for her work in promoting social enterprise and he noted that three of the Indian social entrepreneurs of the year were from Telangana and that Hyderabad had become a social enterprise with a variety of organizations and a host of social impact funds.

During the session on urban development challenges, the Chief Minister explained his vision on development of Hyderabad. He shared his ideas and experiences with Mayors and Vice Mayors of Chinese cities like Guangzhou, Yuwi, etc.

He has requested them to share their experience and expertise on city developments so as to help develop Telangana. The CM also met Prime Minister of Mongolia, IT minister of China and Deputy Prime Minister of Russia among others.