World Economic Forum Current Affairs

WEF launches Centre for Fourth Industrial Revolution in India

The World Economic Forum (WEF) has announced its new Centre for Fourth Industrial Revolution in India.. The Centre will be based in Maharashtra. It was launched by Prime Minister Narendra Modi at function held in New Delhi. It will be fourth center in chain-ones as part of WEF’s global network along with San Francisco (US), Tokyo (Japan) and Beijing (China) are already functioning.

Centre for Fourth Industrial Revolution

The centre will facilitate to bring together government and business leaders to pilot emerging technology policies. It has selected drones, artificial intelligence and blockchain as the first three project areas. The centre will work in collaboration with government on national level to co-design new policy frameworks and protocols for emerging technology alongside leaders from business, academia, start-ups and international organizations. NITI Aayog will coordinate partnership on behalf of government and work of centre among multiple ministries.

The initial efforts at national level are focused on two emerging technology areas AI and machine learning and blockchain and distributed ledger technology. The first project will focus on expanding access to data to accelerate adoption of AI in socio-economic areas like education, healthcare and agriculture. The second will focus on application of smart contracts to boost productivity and transparency while reducing inefficiency. At state level, Maharashtra Government in collaboration with Centre is planning to undertake a drone mapping operation in the agriculture sector. These projects will be scaled across India and globally

World Economic Forum (WEF)

It is an international institution founded by Klaus Schwab that works to improve the state of the world through public-private cooperation. It was established in 1971 and is headquartered in Geneva, Switzerland. It serves as independent not-for-profit organization that works closely with other international organizations. It also works with leaders in the field of politics, business, academia to set global, regional and industrial agenda.

Month: Categories: Business & Economy Current Affairs 2018


Government launches Closing the Skills Gap Task Force

Union Ministry of Skill Development and Entrepreneurship has launched Closing the Skills Gap Task Force in India in collaboration with World Economic Forum (WEF). It will be co-chaired by Minister of Skill Development and Entrepreneurship Dharmendra Pradhan along with Salil Parekh, Chief Executive Officer and Managing Director of Infosys.

Closing the Skills Gap Task Force

The goal of Task Force is to develop action plan to address skills gaps in India and make Indian workforce ready for jobs of future. It will bring together leaders from business, Government, civil society, and the education and training sectors to accelerate future-proofing of education and training systems in the country.


More than half of India’s population is in the working age, thus skills development is critical to sustaining inclusive growth and development in the country. The task force will be significant step to accelerate the impact on skills development already achieved by bringing together relevant stakeholders to act collectively. It will the second country-led public-private collaboration of  WEF’s Closing the Skills Gap Project after South Africa.

Month: Categories: India Current Affairs 2018