India, China steal the show as Davos meet draws to a close

DAVOS: Curtains came down on the WEF meeting after five days of intense debate on rebuilding the global economy by world leaders and corporate honchos.

About 2,500 participants, including CEOs of almost all the Fortune 1,000 companies, and government heads discussed and brainstormed the future of the global economy after its worst recession since the World War II.

The 95-member strong Indian delegation at the centrally- heated Congress Centre, nestled in the snow-laden Alps, included Road Transport Minister Kamal Nath, Commerce and Industry Minister Anand Sharma and Planning Commission Deputy Chairman Montek Singh Ahluwalia.

Captains of Indian industry Vijay Mallaya, Rahul Bajaj, K P Singh, Chanda Kochhar, O P Bhatt, Sunil Bharti Mittal and Anand Mahindra spoke on how the emerging economies put up a better show, while the rich countries crumbled under the weight of the financial meltdown.

"India is now being seen as a land of opportunities. There is an interest in India. India's growth drivers are really more fundamental and advantageous (than in the rich nations)," said ICICI Bank's MD & CEO Chanda Kochhar.

Even when there was a strong acceptance that the future belongs to Asia, the developed world unlikely to take it lying down. "They (the West) are not at peace with the idea that they are not going to grow," while India and China continue to expand, Jamshed Godrej, said.