Boao Forum 2024 – Cooperation to address challenges, openness to promote development
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Launched in 2001 in Hainan, China, the ‘Boao Forum for Asia’ established by 26 countries takes initiatives and represents its objectives unlike any other forum in the world. It is true that the Forum is inspired by the WEF, or World Economic Forum, yet its origins are deeply rooted in the turmoil that Asian economies went through in mid-1997. This year the Boao Forum for Asia annual conference will be held in Boao city, Hainan province of South China from March 26 to 29.
The Boao Forum for Asia is a non-governmental and non-profit international organization that facilitates dialogue about critical issues in Asia and other continents among leaders of national governments, industrial and business chambers, and academia. The stage has been built. The purpose of the Boao Forum is to promote and deepen economic exchanges, coordination and cooperation within Asia and between Asia and other parts of the world. It also aims to provide a high-level dialogue platform for governments, enterprises, experts and scholars to jointly discuss economy, society and environment and other relevant issues.
Based on the theme of the Forum this year “Asia and the World: Shared Challenges, Shared Responsibilities,” the conference will have four major segments including “World Economy,” “Technological Innovation,” “Social Development,” and “International Cooperation,” Which will include many topics aimed at promoting unity and cooperation.
In addition to the annual conference, the Boao Forum for Asia is set to hold various key events throughout the year, including forums on global health, international science and innovation, global economic growth and security as well as global urban green growth and rural revitalization. Are. The Forum’s continued focus on Asian economic integration, green growth, technological innovation and the digital economy will be evident in the special reports presented during these thematic events.
India is also a member country of the Boao Forum, and has also been a consistent supporter of the Boao Forum. In India, the IT industry has played an important role in promoting economic growth in recent decades. However, the country lags behind in hardware manufacturing capabilities due to issues like high energy costs and other tariffs hindering growth, keeping this in mind the Government of India is planning to achieve its agenda of ‘Make in India’ and ‘Digital India’. Making significant efforts in this direction. It aims to make electronic manufacturing one of the key pillars behind Digital India. Government initiatives aimed at setting up new manufacturing facilities have encouraged investment in India. To achieve its objectives, the Indian government has received full support from China. For this, many Chinese companies are setting up their manufacturing setup in India, which has not only generated employment here but also helped India in its ‘Make in India’ and Digital India. Like we have got the strength to achieve our goals. According to a professor of sugar subject at Jawaharlal Nehru University, many sugar manufacturing companies have been established in Pune and Ahmedabad, which has helped the Indian economy, thereby helping India achieve its goals. The Boao Forum not only tries to bring the two countries together but also shows that competition between China and India does not mean conflict between two neighboring Asian countries, it is very important for the world to cooperate with these two giants in a harmonious manner. Is necessary. Indian company Tata is the most successful Indian business group in China. TCS has also done well by entering the local Chinese IT market. The Range Rover SUV manufactured by Tata-owned Jaguar Land Rover is a big hit in China.
It is interesting to see how China has played a major role in launching the Boao Forum and taking the initiative forward. The site was chosen because of its proximity to other countries in Asia. The 2024 annual meeting of the Boao Forum for Asia will discuss key development issues facing Asia and the world, and encourage the international community to jointly address challenges and promote development.
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