Top economists and business leaders attending the WEF have also expressed optimism over the growth potential of India and China, amid gloomy global economic conditions.

Israeli Defense Minister Ehud Barak said today the world must quickly stop Iran from reaching the point where even a "surgical" military strike could not block it from obtaining nuclear weapons.

Sharma said that the decision to open 51 per cent FDI in multi-brand retail "could not be implemented.