Inflation accelerated in the United States and Eurozone to 8.5% and 7.5%, respectively, with high energy prices as the principal driver. The US economy contracted –0.4% in the first quarter of 2022; economists are citing steep increases in US imports as a cause of the retreat. Developed and emerging economies alike are experiencing continuing supply chain disruptions and productions shortages, challenges magnified by the effects of Russia’s invasion of Ukraine. Recent monthly data suggest, however, that global economic fundamentals are sound and overall demand remains strong. Output is limited by shortages in labor and supplies. Global trade and supply chains were affected soon after China imposed restrictions in Shanghai to stop the spread of COVID-19. The measures are now being lifted, but China is still recording between 1,000 and 3,500 new cases daily. These figures are low by global standards, but the government there is sticking to a zero-COVID-19 policy. This augurs well for India as India is predominantly competing with China in many spaces.
The World Economic Forum Annual Meeting at the Swiss ski resort town of Davos began on May 22 after a gap of nearly two-and-a-half years. On the first day of the summit, WEF’s President Borge Brende said that for India things look better, while other countries are beginning to struggle. This year marks the 25th anniversary since India began to appear at the World Economic Forum at Davos. To mark the special moment, the India Lounge at Davos has six sessions covering, digital economy, energy transformation, and building unicorns. One of the sessions will include the opportunity of infrastructure asset monetisation pegged at $80 billion.
I invite all our readers to block their calendars for the upcoming 6th mega edition of the Exhibition Excellence Awards that will be held on 8th July 2022 at the India Expo Mart, Gr. Noida (India). Nominations are now open for the Exhibition Excellence Awards 2022 that have received the acknowledgment and support of IEIA – the Voice of the Indian Exhibition Industry along with prominent industry bodies like IESA, ICPB, SITE India, PATA India, TAAI, NIMA, ADTOI, IATTE, prominent Govt. body for MSME – NSIC and leading international industry bodies – IAEE & AFECA. The nominations close on 1st June 2022 and forms can be filled online at www.exhibitionexcellenceawards.com. I hope you enjoy reading this insightful issue.
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