While the rich and famous from across the world have assembled here for their annual talk-fest and networking for business, many top Indian business leaders like Mukesh Ambani and Rahul Bajaj have given this year's WEF Annual Meeting a miss.

He said there is no need to ring alarm bells for the Indian economy as it was already growing at 5 per cent and the rate would improve further.

The billionaire said, the world was more concerned about governance issues of the country and "how do we move from a country where execution is a huge challenge to making execution the core of who we are."