Globally, the environment-related risks top the charts, as per the survey of around 1,000 global leaders described by the WEF as members of its "multi-stakeholder communities".

WEF also took note of the government's 'Make in India' initiative to make the country a global manufacturing hub.

The risk of political and economic confrontations between major powers, including outright military conflicts, has risen sharply, according to a survey released by the World Economic Forum (WEF) days before its annual gathering in Davos.