he minister, who held a series of meetings with existing and potential investors in power and coal sectors as also with various government leaders during his three-day visit, said "the auction process is already on, people have started registering themselves on the website".

Speaking to the business and political elite at the World Economic Forum at Davos, Schmidt said: "There will be so many sensors, so many devices, that you won't even sense it, it will be all around you."

Speaking at the 45th World Economic Forum Annual Meeting Jack Ma, who is also China's richest man, said he aims to serve 2 billion consumers and help 10 million small businesses outside China sell their products through the Internet.