WEF 2017 News

Amid rising uncertainties on political as well as economic fronts in different parts of the world, India continued to be seen as "bright star" even as clamour picked up momentum for speedier reforms and decision-making process to catch up with neighbouring China.

As the annual talkfest of the rich and powerful from across the world reached its last day here, top economic leaders felt the global economy is improving though mostly on internal factors even as they warned of new 'black swan' events post elections in various countries.

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.

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.

Policymakers across the world must act now to check inequalities even as there is no "silver bullet" to contain this problem, IMF chief Christine Lagarde.

Amid rising concerns about globalisation benefitting the world's richest more, India's wealthiest man Mukesh Ambani today favoured free market economy and said wealth creation should not be constrained as it is a precursor to the distribution of wealth.

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.

In signs of rising income inequality, India's richest 1 percent now hold a huge 58 percent of the country's total wealth -- higher than the global figure of about 50 percent, a new study showed today.