Davos summit News

Over the course of the two years of the pandemic, the fortunes of the world`s 10 richest individuals have risen to $1.5 trillion - or by $15,000 a second - a study by Oxfam this week showed.

The Chinese President also spoke against "protectionism and unilateralism" "History has proved time and again that confrontation does not solve problems" "Protectionism and unilateralism can protect no one, they ultimately hurt the interests of others as well as one`s own," Xi said

He further added that India was once known for licence raj and the now encouraging ease of doing business, reducing govt involvement in businesses. He also said India is fighting another COVID-19 wave with full alertness and caution while also maintaining economic growth.

Trump`s $1.5 trillion tax plan unveiled in December slashed the corporate rate from 35% to 21%.

There is a huge appetite for the continuous surge in foreign investments in India with no comparable opportunity available worldwide, Union minister Piyush Goyal said today, even as he saw India's role at international platforms growing into a leader being looked into for solving problems of a 'fractured world'.

Modi is expected to be accompanied by some union ministers and top government officials, while a large India Inc delegation led by apex industry chamber CII will also be present at the meet, whose theme will be 'Creating a Shared Future in a Fractured World'.