The Davos paper said Trump's administration believed "unfair" trade had led to large trade deficits and job losses, but policies based on such thinking could end up harming the people they aimed to help.

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.