Speaking here on the sidelines of the World Economic Forum (WEF) annual meet, Mr Sharma said the AAP's success in Delhi does not mean it would be replicated elsewhere in India. Asked whether AAP was adding to uncertainties, Mr Sharma said there may not be a need to worry as this was like a "localised storm" and Delhi is a city state.

Mr Ghosn, who is Renault-Nissan Alliance's Chairman and CEO, said that 2013 was disappointing for the industry in India but 2014 should see slow recovery.

Eyeing India as a long-term growth market, US-based retail giant Walmart says it is currently focussing on expanding its wholesale retail business in the country and would wait for further clarity on rules for entering the multi-brand retail business.