The rich and powerful from across the globe will flock to the ski resort town of Davos on the Swiss Alps for five days beginning Monday to discuss what's ailing the world amid fears of the global economy sleepwalking into a crisis, with more than 100 CEOs from India expected to be in attendance.

President Donald Trump on Thursday cancelled the US delegation's trip to the annual international conference at Davos, saying the officials were needed in Washington to tackle the shutdown of the federal government.

US President Donald Trump had told reporters at the White House earlier on Thursday that he intended to speak at the forum but would not attend if the shutdown continued.