Global markets have calmed significantly in the past year, but the world economy is not out of the woods yet, a panel of top officials and bankers said Wednesday as the World Economic Forum opened.

The high confidence levels of Indian CEOs is in sharp contrast to the declining confidence level of CEOs across the world in their own businesses as well as for the broader economic scenario.

The chief executive officers (CEOs) of Indian companies have emerged as the most optimistic lot in the world when it comes to expectations for improvement in global economy this year and revenue prospects of their own businesses in the longer term.