Climate change dominates World Economic Forum 2020 | WION | World News | WEF

and so much chatter with you who has been getting us those ground reports is now joining us live on the broadcast from Davos summit as we've been discussing all along the issue of climate change has dominated the discourse at that forum and as the event draws to a close it makes for a good opportunity to look back at the commitments and the plan of action that has been drawn as far as tackling the climate emergency is concerned absolutely Molly so far we have seen only one commitment big commitment coming from US President Trump only when he said that one trillion trees would be planted so this is something that has come that the only commitment come so far rather it and after that there's only been no we can say that talks of something will be done to address the climate change issues so it depends from 20 to 80 to 20 to anyone next year in Davos what happens in the next one year is very crucial because talks have happened there are many mo use have been reached and all stakeholders were here so it can't be better place to talk about climate change yes they've spoken about it but will they walk the talk well that will be clear only next year now 2021 one year is there and the talks will turn into action or not that will be clear only well small small things are happening here across Davos we have seen many many places there are stalls let's say you sign and we will plant one tree in your name you take a cap and we'll plant plant one tree in your name take gloves and we'll plant one tree in your name so this is something which they want which even I spoke to some executives they want it has to be kind of a full-blown we can say that a campaign a campaign and something that is that involves all students all youngsters cooperates other people and then when they start planting or thinking about planting please then the old the actual change will come just talking here discussions here and going back and then nothing will not work much Molly absolutely on the issue of planting trees also has been at the center of that war of words in a way between marathon burg and Donald Trump on that issue where the activist have said that that will not be sufficient when it comes to tackling the emergency also speaking of the overall sentiment the industrialists and business leaders are concerned submit regarding the Indian economy what is the overall sentiment that they have been sharing with you are they still bullish about the economy of parts the way forward and we've heard from the minister himself yesterday talking about how the economy is well poised to take off do they share that sentiment well absolutely and here as we have been talking to many executives here but one thing is coming from their side is that what the Indian economy may be our statements slow down now but it's about to bounce back with you nobody can nobody can stop it it has bottomed out that's that's a word coming out and so when you spoke to them about the projections made by I mean for 4.8% ago they're clearly not much disturbed about it they say that optimism is the way forward yes there are problems hiccups now and with the government support with the support of CEOs and all cycles are they sit together and think about certain steps well it can come back also IMF s projected are 2021 growth of more than six point five percent for India which is more than five point six percent then China so this is something which we always compare to us with China and China growth is is is also something initially remember China was also a big growth engine good big both engine for the overall world now China has has come down a bit trade war has taken the tour on China Chinese economy so the growth there also has come down it's not only India we are seen India in isolation and that's the problem because in India if you talk about growth coming down from slipping from 8 percent in 2007 8 to over 4.5 to 5 percent now well that's clearly not not a thing which is completely you know linked to India all the global economies are also coming down so Indian CEOs are optimistic that in the next one to two years we will overtake China once again we will be the fastest growing major economy once again we're not comparing ourselves to small economies small economies like Bangladesh and all but India is a huge - economy three trillion dollar economy and any growth hair will take up the that's something which I heard from many Google executives also that they're bullish still bullish on India after India and China the two economies that we'll just the major growth going forward remember there are many countries in the world where is zero percent growth 1% growth interest rates are in mines in India only interest rates are high as high as 7 to 8 percent carrots indication that yes economic growth will come here though yes there are certain hiccups like inflation was at multiple ear hi Yogi's also I would like to mention one point here I spoke to many executives from automobile sector but we also mentioned we always mention automobile when we talk about slowdown well they are of the view that the slowdowns in automobile is not majorly because of the demand slowing down but of Faerie factors many factors including the biggest extra load that will be ruled out from April 1st 2020 so these factors are responsible for auto sector slowdown so that's why saying that whole economy explained down because of auto sector sales happening is not correct so they will also recover going forward so Indian economy is clearly poised to grow well we spoke to SP eyes Rajesh Kumar also he is also saying that the banking system is flush with money and they are also waiting for companies to come and and take money from them one point all I would like to point out from here is that the corporate tax rate cut went what we have what happened over the last few months well that has not given or shown much results with corporate tax rate cut happened and it was expected that investments will be there invest fresh in this mess will come that hasn't happened waiting for half that to happen all right we're gonna leave it there for the moment so much I really appreciate very much joining us with those perspectives and inputs from Davos the World Economic Forum drawing to a close the last year saw major automobile manufacturers cutting down on production and a lot of those issues happy discussed at the forum as well and talking about the expectations from the Union budget of India 2020 21 so much shot already caught up with mind Roy Mahindra as anisha take a listen into an excerpt from that conversation we are here at Davos 2020 many global companies are here many Indian companies that are global are also here today we are joined by mr. Nisha he's the CEO and MD designate of my environment Rob he's going to be the new face of the company Ville sir thanks for talking to us first of all let's begin by asking about your sector because or whenever we talk about slowdown or any other you know scenario in India your sector comes first what is happening with your sector and going forward this year what's the outlook for automobile sector so the auto sector is a big part of manufacturing GDP in India so when the auto sector gets hurt there is a slowdown that that comes in as well a number of things came in together for the other side that is a combination of ps4 to the s6 transition some liquidity crises as well that got played out funding wasn't easily where in terms of loans a lot of that is being sorted out now the cancion has to pay more for cars with certain taxes going up as well so we are optimistic about the next year we feel that a lot of these things are behind us now we are looking forward to a budget which has a lot more consumption driven activities potentially to some targeted incentives for the auto sector some may be thanks related some may be beyond tax the auto scrappage policy is one I know the government has been putting a lot of thought into and one that can help stimulate demand as well that doesn't require tax cuts that just requires it has much more benefits in terms of the environment as well so there's a whole host of things that are pointing in the positive direction right now what's your view on what's happening with economy back home there have been a number of things that have been cleanup actions in some form and those have short term implications we have to live with those as that happens we need that supplemented by specific activities to drive consumption so that's something you would look for in the budget as we go forward yes growth is lower in some ways you look at this as a crisis let's not waste a crisis let's use this to come back on track the long term from very optimistic about India if you look at the demographic dividend that we have there are a number of consumers are going to come in and buy things our average age is 29 for India 63 percent of our population is in the working ages so from all of those perspectives India is very well poised [Music]

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Id: jOaizRYg0Ek

Length: 9min 10sec (550 seconds)

Published: Fri Jan 24 2020