Davos: A sense of optimism was in the air with industry captains and global leaders seeing improved business confidence and many experts predicting good prospects for the Indian economy at the World Economic Forum.
Spread across multiple sessions, topics of discussions varied from climate change to unemployment to European economic conditions. Concerns over snooping activities also found mention as the rich and powerful began the annual talk-fest at this Alpine town.
Just like the optimistic mood among most of the WEF participants, the climate too turned bright with sunny moments unlike yesterday.
The 44th WEF annual meet, with participation of more than 2,500 people from different parts of the world, also comes at a time crucial juncture when the global economy still grappling with sluggishness.
At a time when the Indian economy is grappling with challenging times, Finance Minister P Chidambaram on Wednesday assured global investors that the country is prepared to face the impact of US Fed tapering and asserted that growth is poised to be at about 5 per cent this fiscal.
Experts gathered at the meet expressed optimism over India's growth prospects and said the country remains a good place to do business and its fundamentals are quite strong.
Noted economist Thomas Friedman said he was hugely optimistic about India even though the country is facing big challenges.
Echoing similar views, Internet major Google's Senior Vice President and Chief Business Officer Nikesh Arora said they have been very bullish about India for a long time.
Reflecting the growing optimism, nearly half of the Indian CEOs surveyed are "very confident" about revenue gains for their companies in the next 12 months, according to a study released by global consultancy PwC.
PepsiCo Chairperson and Chief Executive Indra Nooyi said that most global enterprises are doing business the right way and there are green shoots of recovery in terms of public trusting business.
According to Nooyi, doing business in the right way can be defined as possessing financial integrity, transforming with changes in the marketplace and by thinking long-term.
Topics of unemployment, climate change and income inequality were also discussed at the forum. South Korean President Park Geun-hye said the world must act as one to tackle climate and environmental changes.
Going by a survey released in Davos, most youngsters think that business can do much more to address society's challenges in the areas of most concern like resource scarcity, climate change and income inequality.
Meanwhile, during a session top executives of global technology firms acknowledged that ensuring hundred per cent privacy would be difficult in the ever-changing digital landscape.
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