Schwab hails India's policy in COVID-19 fight; says 'has potential to shape global agenda'

Founder and Chairman of World Ecomic Forum (WEF) Klaus Schwab on Sunday hailed India's strong policy response to mitigate impact of COVID-19 pandemic. Exuding confidence over India's power to shape global nda, Schwab said country w has opportunity in leapfrogging to a more digital and sustainable ecomy.

Schwab, who founded WEF 50 years ago, furr asserted that he remains optimistic about India as country continues its quest to build a stronger and more equal nation. He also ded that entire world will watch India for inspiration.

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'India has power to shape global nda'

"With its demographic vant and extensive diversity, India has power to shape global nda and define our collective future," Schwab told news ncy PTI in an interview from Geneva where World Ecomic Forum (WEF) is based.

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He continued to praise India for its early strong policies to mitigate impact of pandemic. He stated that India has put in place an early lockdown, distributed large-scale food rations to over 800 million people who were at risk of starvation and supported small businesses by giving collateral-free credit.

"But what it couldn't prevent is that this pandemic has put millions of informal workers, low-income migrant workers and daily-w earners in a state of extreme insecurity. Protecting ir lives and livelihoods is prime concern today, as it could le to an even deeper, humanitarian crisis on back of ongoing public health crisis," Schwab said.

Schwab furr ded that as India focuses on building a better future post pandemic, "its greatest opportunity probably lies in its efforts to leapfrog to a more digital and sustainable ecomy". During his interview, he also said world is at a turning point for humanity today.

"COVID-19 is most devastating and immediate crisis we are facing, but we are equally going through worst environmental crisis in human history as well. And socio-ecomically, division and inequalities we are facing are worst in a generation," he said.

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COVID-19 situation in India

Over span of 24 hours, COVID-19 cases reported in India remained below 55,000 for third consecutive day, while new fatalities recorded in a day dropped to 578 after almost three months, according to Union Health Ministry's data updated on Sunday. Meanwhile, India's COVID-19 cases rose to 78,64,811 with 50,129 fresh infections being reported in a day and death toll climbed to 1,18,534 with 578 new fatalities, data updated at 8 am showed.

active cases remained below seven lakh for three days in a row, while national recovery rate has risen to 90 percent, ministry said. As of w, re are 6,68,154 active cases of COVID-19 in country which comprise 8.50 percent of total caselo, data stated.

(With inputs from PTI)