Chinese President Xi Jinping offered a vigorous defence of globalisation on Tuesday, pushing back against the "America First" rhetoric of incoming US president Donald Trump and signalling Beijing's desire to play a bigger role on the global stage.

Union Ministers Nitin Gadkari and Nirmala Sitharaman on Tuesday joined over 100 corporate honchos from India at the WEF meet.

Some panelists noted that creating environment where innovation will prosper in gigantic companies tends to spawn new structures.