She adds that the recent reform announcements by the Indian government have created a positive mood, even though the world expects India to better than what it is doing.

Angel Gurria, secretary-general of the Organisation for Economic Co-operation and Development (OECD) speaks to NDTV on the sidelines of the World Economic Forum 2013 about recovery in global, US and European economies. Here is the edited transcript of the interview:

Chinese banks were among the first to make their way into the continent, with ICBC, the world's biggest bank by market value, having bought a 20 percent stake in South Africa's Standard Bank in 2007.