"The irony is that when more walls show up it is a good opportunity for services companies to help do business across those walls," said Mr Sikka of Infosys.

Commerce Minister Nirmala Sitharaman emphasised that the world needs to do a "reality check" even as she said India remains on track to grow its trade and economy faster.

The commerce and industry minister said the debate here at WEF has been about the fate of globalisation and whether capitalism needs to be demonised.