Chinese President Xi Jinping offered a vigorous defence of globalisation and free trade in a speech at the World Economic Forum in Davos on Tuesday, which underscored Beijing's desire to play a greater global role as the United States turns inward.

World Economic Forum's Annual Meeting began in Davos on Monday evening with call for governments to be 'responsive and responsible' in the backdrop of falling trust in all kinds of institutions and various studies painting a dismal picture for India including on inclusive development, rich-poor gap and talent competitiveness.

Just eight individuals, all men, own as much wealth as the poorest half of the world's population, Oxfam said on Monday in a report calling for action to curtail rewards for those at the top.