Notes from Davos: When the G7 sets the tone — and the G20 shows up in force

Halfway through the Annual Meeting, Davos feels less like a conference and more like a convergence.A few things stand out this year — unmistakably.

For the first time, the United States has not one but two USA Houses on the Promenade. A first. Word on the Promenade is that parts of this are backed by some U.S. corporates. Symbolism matters in Davos — and this is hard to miss.

Equally visible is the G20 footprint. Most G20 countries are present through pavilions and delegations, with India clearly leading in scale and energy. Led by Minister Ashwini Vaishnaw, there were several strong India-focused sessions — not just with Indian companies, but with a clear global presence. We presented a confident India story — a Goldilocks moment, as some described it.


Indonesia follows closely, and you see strong country presences from Qatar, the UAE, Saudi Arabia, the Philippines, Nigeria, Brazil, South Africa — and others. The geography of global growth is very much on display.

This is also a record year for country and leader participation at the World Economic Forum. It shows — not just on stage, but in corridors, side rooms, and security queues.

Look at the mix:

• G7 leaders, with three already having addressed Davos
  
• The EU fully present
  
• BRICS (barring Russia) visible in multiple formats
  
• Heads of the World Bank, International Monetary Fund, the European Central Bank, and major European and American banks all here
  
• A large G20 presence
  
• Almost every conceivable global grouping represented
  

At moments, it feels like more than a UN General Assembly or a World Bank–IMF Annual Meeting — almost all rolled into one. In my 37 years of Davos, I have never seen a gathering quite like this. Many congratulations to the WEF leadership for pulling this off.

Then there was President Donald Trump — his second appearance at Davos. The curiosity was unlike anything I’ve seen before. Queues formed two hours in advance. Many didn’t get in. Every spillover hall was full. I understand that out of the roughly 1,000-seat capacity of the Congress Hall, a significant portion was taken up by the U.S. delegation and security presence, which only added to the pressure on access. I don’t recall this level of anticipation even during his earlier visit. The session overran, the grid was disrupted — but hats off to the WEF team for managing it smoothly.

As the week progresses, the crowds keep growing — especially in what many now call the Other Davos or UnDavos. The gravity is clearly shifting beyond just the official programme.

A walk down the Promenade tells its own story. You see countries, then consulting firms, then tech — and more tech. A few banks. And everywhere, AI — or perhaps better described as all-inclusive AI. Whatever the label, its presence is total: in showcases, demos, messaging, and positioning conversations.

I also notice a significant shift in India Inc.’s presence. The next generation has clearly arrived — in many cases added to, and in many cases replacing, the old timers who traditionally anchored India’s Davos presence. The conversations feel different: more global in instinct, more technology-native, more confident. Less about announcing arrival — more about operating from a position of arrival.

One absence is noticeable too: China feels less present this year — both in scale and signalling but not in conversations.

On a personal note, Nandan and I caught up and looked back at something that feels almost surreal now — 20 years since the “India Everywhere” initiative in 2006. From then to now, the contrast is striking.

Evenings, as always, are more competitive than daytime sessions. Dinners and receptions overlap aggressively. Security feels tighter, checks stricter — and frankly, that’s reassuring. I still make it to Japan Night — for the sake of sake — and Indonesia Night, which in my view remains one of the best country evenings at Davos for its food, music, and sheer warmth.

Some things, though, are missing.

The snowfall, for one — though some is expected on Friday. Davos without snow always feels slightly unfinished.

More than that, I miss the cafés, piano bars, and small restaurants you could once just walk into. The informal, Davos-style conversations are very much alive — perhaps more than ever — but there are fewer and fewer venues where you can simply take a friend, or a new acquaintance, for a spontaneous meal or a quiet drink outside the Congress Centre ecosystem. Even the hotel lobbies are taken over by events, branding, and access control.

And then, a small but telling first — almost a metaphor for how Davos is changing.

An Indian food truck on the Promenade. Run by a couple based in Zurich, originally from Punjab. Called Kumar. Serving excellent pakoras and hot Indian curries. Amid the tech, geopolitics, and policy, that felt quietly grounding.

That balance — vibrant conversations, shrinking informal spaces, but new forms finding their way in — feels like a subtle but important shift.

I miss parts of the old Davos.

But I’m intrigued by what this new one is becoming.

Something to ponder.

The G7 may set the tone.

But this year, the G20 — and the rest of the world — have shown up.

The author is Co-Founder, Public Affairs Forum of India (PAFI).