Davos and after--beyond the conversations

Posted by: Nandan M. Nilekani on January 26

Taking time off for a short post near the end of a busy Davos schedule.

It is becoming clear that even as we work together to address global issues, the recent events in the capital markets show that the world is becoming increasingly multi-polar.

Growth is now more distributed and broad-based with the emergence of multiple centers of growth spearheaded by countries such as India and China. As emerging economies continue to grow, they must be involved in the process of global governance. We need a more equitable representation of countries in global institutions for a constructive discussion on issues of trade and the environment.

At Davos, we are seeing the interconnectedness of our world across our panel discussions. Take, for instance, the dialogue on clean energy. We discussed bio-fuels as one of the alternatives. However, bio-fuels as a solution need to be seen in the light of sugarcane, corn and maize – a repository of agricultural produce – becoming sources of energy. This will affect the agrarian economy, the labor situation and burden the food supply chain.

But I think there is a growing realization that while there is the issue of equity with the developed nations about who contributes how much to the transition to a low-carbon economy, there is also a realization that it is in India’s own strategic interest – since India is at a critical point of growth – to provide direction to that growth and create a system of incentives to create a low-carbon economy.

All these conversations we have at Davos have a subliminal effect – we absorb them, take them with us, assimilate them and revitalize our intellectual tookit… I think that then starts flowing into academic pursuits, into business decisions, policy decisions… They manifest in the most unexpected ways.

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