Davos 2017 News

As leaders and economists debated the future of globalisation at WEF, the emerging narrative shifted to growth booster from Asia for the global economy amid darkening prospects for trade worldwide.

The Modi government "owed" demonetisation to the nation and it had to do it to eradicate black money menace and to bring hoarded cash back into the banking system, Union Minister Nirmala Sitharaman said today.

As over 3,000 leaders from across the world huddle for their annual talkfest in this snow-capped Swiss ski resort town in sub-zero temperatures, senior union minister Nitin Gadkari has got a full city to take back home literally -- he wants to create India's own Davos in hilly terrains of Himalayas.

With the message of being a "very friendly" investment destination, India on Wednesday sought to woo foreign investors at the WEF annual meet where leaders pored over the benefits of globalisation amid concerns over the impact of automation on jobs worldwide.

With less than 10 percent public companies globally accounting for 80 percent of the entire corporate profits, business leaders including India's Sunil Mittal today acknowledged that consumers are increasingly becoming uneasy with the immense size and power of big firms.

Chinese President Xi Jinping presented himself as a champion of globalisation Tuesday, lecturing the world elite in Davos on the dangers of protectionism and the futility of trade wars.

Chief executives officers in India are among the most confident lot when it comes to short-term revenue growth and also have ambitious hiring plans for the next 12 months, says a survey released today.

The World Economic Forum (WEF) has warned that a staggering 93 percent of Indians will hold jobs without social security benefits in 2017 while creating employment will be a challenge too.

Chinese President Xi Jinping will open the Annual Meeting of World Economic Forum (WEF) in Swiss ski resort town of Davos next week, which will be attended by a record 3,000 global leaders from business, government and civil society, including over 100 from India.