What is WEF or the World Economic Forum is a congregation of top business leaders of the World.These days our Prime Minister is in Davos, Switzerland.
He’s there for World Economic Forum.
Yesterday, he spoke from the WEF dais as well.
His mere intent to visit and have his presence at Davos was sufficient for the Business World to feel upbeat. That’s why the moment they saw the PM boarding the plane to Davos, the Stock markets in India (BSE SENSEX and NSE NIFTY 50) started charting new heights. By end yesterday, SENSEX had already scaled 36000 level and NIFTY was at 10k.
So does all this optimism mean for most people in India? Do they need to feel the same optimism?
The answer to this is a bit indirect.
The World Economic Forum is a congregation (means a group of people assembled for religious worship) of top business leaders of the World. The congregation is held once a year with one simple goal. To help these big companies become bigger by expanding themselves globally. It is a club of the rich and has a sole motive of earning more wealth. When a political leader or a country head chooses to visit and speak at WEF, his words are bound to make news headlines. It’s as simple as that. She/He’s speaking the things the businesses want to hear; and there’s nothing wrong in that.
So it’s up to you how you see the optimism in Indian stock exchanges and organised business community after PM Modi’s speech at Davos. But if someone doesn’t want to share the same optimism, then don’t argue with him or her. After all, most of the jobs created in India come from the unorganized sector.
I think the best way to decide the Government’s performance at present is to look at the situation of job market, growth of jobs, price levels of essential daily use items & food and; the balance between monthly income and monthly budget. If all these look positive to you, then you can clap as well.