One of eight World Economic Forum regional meetings, the summit offers the opportunity for foreign companies and multi-national corporations to meet with Indian policy makers and businesses. Over 400 top decision makers are expected to attend the summit along with 150 panelists and speakers.

"The forum has helped us greatly to market India," said Ajay Khanna, Deputy Director General of CII. He expects many speakers and delegates from India and other countries to attend what he called "a showcase of India."

The theme of this year's summit is 'India: Changing Paradigms,' and the meeting is expected to concentrate on a new phase of reforms in the Indian economy. The national budget passed for fiscal year 2001-02 is designed to revive the economy and was well received by both Indian industry and foreign investors. While India is suffering from the global economic slowdown, the business world is optimistic about government policy initiatives and further liberalizations.

"The Indian industry is not doing well because the world is not doing well," said Khanna. "However we still hope to have about five percent growth, which will make India one of the only countries with over four percent growth rate this year."

High profile business leaders, including Indian industrialist Rahul Bajaj and CEO of Infosys, N. R. Narayana Murthy will lead the summit. The three main themes at the Summit include Indian economic initiatives, bilateral collaboration and social development issues.

Sessions will take place over three days, addressing these different areas. Topics range from regional economic collaboration and the role of the World Trade Organization after its annual meeting in Doha, Qatar to the global potential for the Indian film industry.

Social development issues that have real economic consequences will be another important part of discussions. This summit is one of the first business meetings to discuss the economic impact of HIV/AIDS and the threat it poses to development. Another session will focus on elementary education as a a foundation for sustainable growth and development.

Representatives of nongovernmental organizations will also participate in the summit. The emphasis on NGO participation in economic meetings has increased in recent times, especially in light of high-profile protests against multi-lateral institutions such as the WTO and the International Monetary Fund.

"It has been a conscious effort at the World Economic Forum to have NGO participation," said Khanna. "At the India Economic Summit we've added the NGO factor because we think that civil society needs to participate in these discussions."

CII is preparing for the forum by identifying key investment sectors in India. Several working groups that will recommend policy initiatives to the government have already been established. Khanna hopes that this pre forum work will result in tangible and immediate results following the summit.

"The group is identifying issues now rather than waiting till the forum to bring them up," said Khanna. "The expectation is for the government to respond to these issues at the forum."