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Source– This post is based on the article “India to host 27th WAIPA World Investment Conference in New Delhi” published in “PIB” on 9th December 2023.
Why in the News?
India is going to host the 27th World Investment Conference (WIC) in New Delhi.
What is World Investment Conference (WIC)?
| Specification | Details |
| What is it? | 1) It is an annual flagship event of World Association of Investment Promotion Agencies (WAIPA). 2) It serves as a platform for global investment promotion and innovation stakeholders. |
| 2023 WIC theme | Empowering Investors: IPAs Pioneering Future Growth. |
| Organising body | Invest India (Current President of WAIPA)- 1) It’s India’s investment promotion agency under the Ministry of Commerce and Industry. 2) It empowers investors under the ‘Make in India’ initiative to establish, operate, and expand businesses in India. |
| Key features of 2023 WIC | 1) The WIC is being held in India for the first time and is set to be the largest WIC ever. 2) This conference unites stakeholders to discuss investment policies and trends, offering a unique opportunity for networking, knowledge sharing, and building partnerships. 3) Experience India Centre (EIC)- Invest India will establish an EIC to showcase India’s top services, technology, and products using various technologies, including virtual and augmented reality. |
What is World Association of Investment Promotion Agencies (WAIPA)?
| Specification | Details |
| What is it? | It’s a non-governmental organization serving as a forum for investment promotion agencies (IPAs), facilitating networking, and promoting best practices in investment promotion. |
| Established in | 1995 by the United Nations Conference on Trade and Development |
| Secretariat | Istanbul |
| Members | It has more than 120 member agencies representing more than 100 countries. |
| Objectives | 1) Promote and develop understanding and cooperation amongst IPAs. 2) Assist IPAs in advising their respective governments on the formulation of appropriate investment promotion policies and strategies. 3) It acts as a bridge between the public and private sector |
UPSC Syllabus- Miscellaneous/ International Organisations
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