The world has not yet escaped the risk of a collapse in the global economy despite some renewed confidence heading into 2013, the founder of the World Economic Forum told The Associated Press on Monday.

As the annual WEF jamboree begins here today, over 100 business and political leaders from India will join the world's rich and powerful, including 50 government heads, to discuss current state of economic affairs in freezing weather of this Swiss Alpine resort town.

Urban Development and Parliamentary Affairs Minister Kamal Nath will lead the Indian delegation to the annual meet of the World Economic Forum (WEF) at Davos, Switzerland, starting next week.